Online travel agency Paravion will enter countries such as the USA, Kuwait, Qatar, the United Arab Emirates, Bahrain, Indonesia, the Philippines, Malaysia, and Taiwan. Agency representatives estimate that this will generate, in 2017, approximately 25% of the consolidated group turnover.
The expansion is taking place due to the existence of large consumer segments with purchasing power and a preference for online purchases in these countries.
Payments on the site, in the new markets, will be made in US dollars.
The company is present in the European tourism market in countries such as the UK, Spain, Hungary, Bulgaria, or Cyprus. Since 2015, the agency has also been active in Turkey.
In 2015, the company’s revenues amounted to 46 million EUR in Romania and 21 million EUR in Turkey, respectively, with the consolidated turnover exceeding 65 million EUR.
Source: Economica
Frequently Asked Questions
Which new markets is Paravion entering?
Paravion is expanding into the USA, Kuwait, Qatar, UAE, Bahrain, Indonesia, Philippines, Malaysia, and Taiwan.
What is the expected revenue contribution from these new markets?
The agency estimates that these new markets will generate approximately 25% of the group’s consolidated turnover in 2017.
What was Paravion’s consolidated turnover in 2015?
In 2015, Paravion’s consolidated turnover exceeded 65 million EUR, with 46 million EUR from Romania and 21 million EUR from Turkey.