Further strengthening its leading position in the travel sector in Kuwait, Cleartrip, the leading mobile and online travel company in the Middle East, will invest more than $1 million in 2018 as part of its strategic expansion in the country, which has recently seen a sharp uptick in the outbound travel activity.
The third biggest online market in the GCC region, Kuwait has made significant strides in e-commerce and digital payments, paving the way for the growth of online travel in the country. Focused on capitalising on emerging opportunities stemming from the rising number of travellers and the ongoing consumer spending shift to e-commerce, Cleartrip has rolled out new technology-driven products and solutions that are aimed at transforming the online travel sector in the country.
As part of its efforts to scale up operations in Kuwait, Cleartrip has made sizeable investments in product development to launch a host of innovative travel and accommodation solutions. In addition, the company has recently integrated Knet Payment Gateway to offer a secure and convenient checkout experience to its customers in the country, where online payments stand at 84%.
“With its growing tech-savvy youth population and high internet and smartphone penetration rates, Kuwait presents an excellent opportunity for online travel businesses. The third largest online market in the GCC has already been a key focus market for us and we will continue to deepen our presence in the country with further investments in technology and product offering as part of the company’s long-term growth strategy in the region. We are confident that Cleartrip, backed by our new investments, will become the largest online travel agent within the next 18 months,” said Sameer Bagul, Executive Vice President and Managing Director of Cleartrip Middle East.
Kuwait has been witnessing an increase in the number of visitors after concerted efforts of its government and private sector to enhance tourism, cultural and retail offering in the country as part of its ambitious “New Kuwait” strategy. The long-term development plan will see significant investments until 2035 to transform Kuwait into a lucrative business and cultural hub. Similarly, the country’s outbound travel has seen steady growth, driven by a number of factors including growing population of millennials, the rise in the number flights and routes, competitive fares, as well as easing the travel regulatory regimes in overseas destinations.
Cleartrip’s expansion in Kuwait follows the company’s recent merger with Flyin, Saudi Arabia’s leading online travel company. The deal has helped both companies to expand their client base and benefit from increased economies of scale. Together both Cleartrip and Flyin enjoy a market share of more than 60% and an annual turnover of more than USD 550 million in the Middle East.
