SOTC Travel aiming for a healthy, double digit growth this year, says MD Vishal Suri
SOTC Travel is aiming for a healthy, double digit growth in business this year, and 2024 could be an even better year for the company compared to 2023, said MD Vishal Suri in an interview with ET.
«Our forward bookings are looking stronger for the summer. Well-heeled Indians are travelling 7-8 times a year, and I see other industry leaders stating that people are spending more on travel and experiences,” he said.
“We hope more countries will ease entry requirements for Indians as a lot of short haul destinations are realising the spending power of Indian travellers,» he added.
Suri said despite long haul travel to markets such as the US and Europe not recovering fully due to visa challenges, leisure travel had a great run last year for SOTC Travel, which is currently in its 75th year.
“Domestic travel has been booming. All flights are full wherever you travel in the country. There is huge fervour around spiritual and pilgrimage travel. Our domestic business has grown by 30-40% over pre pandemic times. India is a key market for short haul travel. Our incentive business has grown over 20% compared to the pre pandemic period,” he said.
“All the businesses are firing. Business travel, despite supply side constraints, long haul challenges, and high average air fares, is higher and has recovered in the region of 110-112% versus the pre pandemic times. In 2024, as the visa regime becomes more conducive, you will see far larger volumes emerging out of India for outbound travel,” he added.
Suri said in terms of its
