Deyor, India’s first Whatsapp-verified travel tech company, expects to make Rs 100 crore in 2024. The revenue forecast is based on the current momentum in travel bookings and inquiries received by the company over the last few quarters. As people turned to revenge travel in the post-pandemic world, Deyor was able to make north of Rs 20 crore in revenue in just one financial year after the pandemic.
Commenting on it, Chirag Gupta, Founder, and CEO, Deyor, said, “The travel industry, like many others, had been severely impacted by the global pandemic. However, as vaccination rates rose and restrictions began to ease, we started to see the light at the end of the tunnel. We recovered with domestic travel seeing a resurgence, with many individuals eager to explore their own countries and others after months of confinement. India is a top source for many countries. Almost 225,000 travelers have visited Maldives in 2022, another 600,000 to Singapore, and 900,000 to Dubai, we are anticipating these numbers to double in 2023.”
It is predicted that between 2021 and 2026, the size of the Indian travel services market will rise by $11.78 billion. At a CAGR of 11.38 per cent over the forecast period, the market’s growth speed will pick up. Deyor will send 5000 people to the Maldives by September 2023. The number of requests for the Maldives has increased two-fold in the past two months, and the company is hoping to benefit from the demand for one of the most popular honeymoon locations.
Speaking on the revival of the tourism sector, Himanshu Agarwal, Co-Founder, Deyor, said, “The travel industry has faced unprecedented challenges over the past couple of years. However, we are optimistic about the road ahead. 2023 is shaping up to be a pivotal year for travel and we believe it will be the biggest ever for the industry, particularly for travel startups in India. We are seeing pent-up demand for travel as people are eager to explore the world again after a difficult year. At Deyor, we are excited to be at the forefront of this resurgence and look forward to playing our part in shaping the future of the travel industry in India.”
According to the analysis, the online market would expand significantly throughout the projection period. Customers prefer booking travel services through online platforms due to their convenience. This is increasing the volume of sales in this market. This shift is being driven by online travel services providers such as Deyor who have extensive geographic reach and geographic penetration. As a result, it is expected that sales through the segment of online travel services will increase rapidly over the forecast period.