The second-largest OTA operator in the nation is now Cleartrip, a Flipkart company. According to a recent comprehensive OTA benchmarking research study by VIDEC, Cleartrip experienced industry-leading growth in FY23 and improved its position in the market.
Even though the company’s air sector has had substantial development, it has also made strategic investments in hotels, buses, and B2B companies, modernising its current offers and introducing new technologies and goods. The Nation on Vacation event, instead of it launched at the beginning of the year, redefines and advances the booking period for the customary summer vacation season by teaming up with 40+ airlines, 80000+ domestic hotels, and 4L+ international hotels to provide their clients with lucrative rates and value-added services.
Ayyappan R., CEO of Cleartrip, commented on this by saying, “This move represents a milestone in Cleartrip’s journey and is a tribute to our commitment to customer-centricity and sustainable growth. The enormous industry of travel has experienced fast expansion and is predicted to reach new heights. We think we are in a good position to use technology to innovate and create disruption. This is a brand-new chapter for Cleartrip, not the conclusion. Making travel a feasible and reasonable dream for everyone will be our continued focus as we extend our product categories, create value-led constructions, and innovate on behalf of our customers.
Indian OTA Landscape: India Travel Market Sizing, OTA Benchmarking & Consumer Insights was undertaken by VIDEC, a boutique research firm with a single emphasis on the global travel business. Through executive interviews with suppliers, travel distributors, OTAs, and travel technology providers active in India, the research summarises the market sizing, segmentation, OTA benchmarking, and travel consumer insights for the Indian travel market.
Virendra Jain, Co-Founder and CEO of VIDEC, explained the key research findings: “Led by the OTAs, the India travel market has made a resounding comeback to INR 3,892 billion (US$48.7 billion) in FY23 and is predicted to reach INR 5,787 billion (US$72.4 billion) in FY26. At INR 1,743 billion ($21.8 billion), air travel would continue to be the most popular type of travel; however, non-air categories and increased international demand from India would also contribute to future growth. The frequently mentioned ‘next billion Indian opportunity’ will be fueled by the ground category.
Source- travel biz