The world won’t take China’s money—and India’s online travel firms are benefiting
6 May 2019 1:05 AM GMT
A symbiotic relationship.
- Chinese investors have developed an affinity for India's online travel agencies (OTA).
- On April 26, China's CTrip bought a 42.5% stake in India's largest online travel firm MakeMyTrip
- Besides MMT, two other leading players in the segment, India's biggest budget hotels chains, OYO, and its rival Treebo, are already backed by Chinese investors.
- "Folks who have seen growth in China know that India is the next big leap and there will be significant growth for many years to come," said Vidhya Shankar Satyamurthi, who heads strategy, policy and corporate development at the computer software firm SecurelyShare.
- CTrip is trying to cash in on the upward momentum in India's online travel market, analysts say.
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