NusaTrip extends services to Vietnam in regional expansion

Vietnam-based Nasdaq-listed Society Pass Incorporated’s online travel agency NusaTrip has opened a Ho Chi Minh City office, representing its third Southeast Asian office outside of Jakarta, following the opening of offices in Singapore and Manila earlier this year.

E-commerce firm Society Pass, listed on Nasdaq as SoPa, already has an operating presence in the U.S., Vietnam, and the Philippines. Meanwhile, NusaTrip is Indonesia’s first online travel agency certified by the International Air Transport Association (IATA).

Post the Covid-19 pandemic, Vietnam reopened its doors to international travelers in March 2022, receiving about four million foreign arrivals last year. Domestic tourism has seen a strong recovery.

According to ASEANFocus, in Southeast Asia, 16 million international tourists and 80 million domestic travelers are projected to spend $34 billion in total travel revenue from 2024 to 2026.

In addition, the Civil Aviation Authority of Vietnam (CAAV) expects a full travel recovery by December 2023 with around 34 million passengers from Vietnam expected to travel internationally, tripling the volume from 2022.

“With the aim of increasing its service portfolio across Southeast Asia as well as boosting tourism in Vietnam, NusaTrip is well-positioned to grasp the huge market potential and serve additional communities in the region,” said a release seen on the Nasdaq website Tuesday.

“The NusaTrip regional offices focus on creating more variety of marketing initiatives and managing existing business relationships with airlines, hotels and tourism promotion boards as partners.”

NusaTrip CEO Joe Chang said in the announcement: “The opening of our office in Vietnam reaffirms our commitment to bringing an unparalleled travel experience to more customers in one of the fastest growing regions throughout Southeast Asia.

“Considering the market potential, NusaTrip also plans to open more offices across Southeast Asia to bring customers an intimate and one-stop booking experience,” he said.

Leveraging the upbeat momentum of the travel and tourism industry post-Covid-19 pandemic, NusaTrip is striving to expand its service offerings in the travel market.

Society Pass Vietnam country manager Ngo Thi Cham said: “Southeast Asia is a dynamic and diverse engine of growth for NusaTrip. As the recovery continues, we are optimistic about the market in Vietnam.”

Last year, Society Pass acquired Jakarta-based NusaTrip to enter the regional travel business. The deal also marked SoPa’s entry into Indonesia as well as its growing ecosystem of technology-enabled companies located in Vietnam, Indonesia, the Philippines, Singapore, and Thailand. SoPa also acquired Thai company Thoughtful Media in August 2022 to penetrate Thailand’s market and expand its multi-platform digital video business.