United Kingdom
United States
Asia Pacific
TUI eyes Indian outbound market
WTTC Summit Special: Following his company’s 50% acquisition in a leading India tour operator, TUI AG chairman, Michael Frenzel has announced his intention to develop India’s outbound business.
As reported by TravelMole this week, TUI AG has signed a joint venture with Le Passage to India following a deal to acquire 50% of the company for an undisclosed sum.
While inbound tourism from Europe will be a focus, TUI hopes to develop the brand in India and capitalise on the country’s growing middle classes. Statistics released by TUI suggest there are up to 70 million middle class Indians who can afford a trip abroad – that’s more than the total population of the UK.
Mr Fenzel said he opted for a joint venture because TUI favoured working with a local partner rather than starting up in a country from scratch. But the company will use the TUI brand for the outbound market.
TUI aims to recieve 100,000 visitors from Europe through the joint venture over the next three years.
Le Passage doubled its turnover in 2004-05 to $20.7 million and expects to end this financial year with further increases, taking turnover to $29.5 million.
Report by Ginny McGrath
Related News Stories:
Ginny McGrath
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference
Insights from James Ferrara on Inteletravel’s Growth and Future
Tricia Handley-Hughes on Inteletravel’s Growth and Challenges
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Dozens fall ill in P&O Cruises ship outbreak
Woman dies after getting ‘entangled’ in baggage carousel
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls