Society Pass (Nasdaq: SOPA)'s NusaTrip Opens Regional Office in Singapore to Service Booming Rebound in Southeast Asia Travel Market

Rhea-AI Summary

NusaTrip, an IATA-certified online travel agency and part of Society Pass (Nasdaq: SOPA), has opened its first regional office in Singapore, marking its first expansion outside Indonesia. This move aims to enhance NusaTrip's presence in the Southeast Asian tourism market and offer customers in Singapore the ability to book flights and hotels directly in local currency. The travel and tourism sector in Asia-Pacific is projected to grow at an annual rate of 8.5%, prompting NusaTrip to expand its hotel offerings beyond the current 200,000 listings.

Positive

• Opening of the first regional office in Singapore enhances market presence.
• Expansion aimed at capitalizing on a growing tourism market in Southeast Asia.
• Projected 8.5% annual growth in Asia-Pacific travel and tourism GDP supports business strategy.

Negative

• None.

Jakarta, Indonesia, Jan. 04, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- NusaTrip, Indonesia’s first IATA-certified online travel agency (OTA) and the travel vertical of Society Pass Incorporated (Nasdaq: SOPA), today announces the opening of its first regional office in Singapore and first office outside of Indonesia. The office opening positions NusaTrip as the travel platform of choice for travelers desiring access to the booming recovery of Southeast Asia's (SEA) tourism industry and reflects NusaTrip’s commitment to developing a wider range of marketing and commercial partnerships with airlines, hotels, and tourism boards. Customers in Singapore can now directly book flights and hotel rooms and pay in local currency on NusaTrip.com’s dedicated website for Singapore travelers.

Singapore's strategic location at the center of Southeast Asia (SEA) make it a preferred destination for travelers from around the globe. Ranked the third busiest airport in the world by Skytrax, Singapore’s Changi Airport (IATA: SIN, ICAO: WSSS) “plays an important and strategic role in SEA's travel, tourism, and hospitality industry. The presence of NusaTrip in Singapore is only the beginning of many significant advancements to come. It is an important step toward increasing our accessibility and credibility among our key stakeholders in SEA," said NusaTrip’s CEO, Johanes (Joe) Chang. 

Leveraging SEA’s soaring momentum of the travel and tourism industry recovery post-COVID-19 pandemic, NusaTrip is expanding its offering beyond air travel. According to the World Travel & Tourism Council's "Travel & Tourism Economic Impact 2022" report, the Travel & Tourism GDP in Asia-Pacific is forecasted to grow at an average annual rate of 8.5% or twice the 4% growth rate for the regional economy. Against this backdrop, NusaTrip expects to significantly add to its supply of hotels beyond the current 200,000 registered hotels on its platform. NusaTrip connects worldwide flight content through streamlined integration with low-cost and full-service airlines from multiple points of sale and enables global distribution at ease via its proprietary technology, the NusaXchange platform. 

About NusaTrip
Founded in 2013, NusaTrip is an IATA-licensed, Indonesia-based online travel agency serving both local and global customers and partners by optimising cutting-edge technology and providing 24/7 customer-centric support team-as-a-service. NusaTrip is a member of Society Pass (Nasdaq: SoPa) ecosystem.

For more information, please review: https://www.nusatrip.com.

About Society Pass Inc.
Founded in 2018 as a next generation, data-driven, loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital advertising network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines;Handycart.vn, a premier online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please review the following online information which is not part of this press release:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass  or
Facebook at https://www.facebook.com/thesocietypass  or
Twitter at https://twitter.com/society_pass or 
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
Rosa Milyarna - NusaTrip Indonesia
Rosa@nusatrip.com

NusaTrip/ Society Pass ID PR Representatives
Elisabeth (elisabeth.winiartati@gmail.com | +62813375150220)
Angga (anggahadi@gmail.com | +6281213858388)

FAQ

What is the significance of NusaTrip's new office opening in Singapore?

NusaTrip's new office in Singapore represents its first expansion outside Indonesia, aiming to strengthen its position in the Southeast Asian tourism market.

How does NusaTrip plan to benefit from the growth in Southeast Asia's tourism sector?

NusaTrip plans to expand its hotel offerings and enhance partnerships within the tourism industry to capture the projected 8.5% annual growth rate in travel and tourism GDP in the region.

What services are available to Singaporean travelers through NusaTrip?

Singaporean travelers can book flights and hotel rooms directly on NusaTrip's dedicated website, paying in local currency.

What is the future growth outlook for NusaTrip after its Singapore office opening?

With the opening of the Singapore office, NusaTrip anticipates increasing its supply of registered hotels and expanding its market reach in Southeast Asia.