Company: NUTR
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001641172-25-009604
Chunk: 91

Company: NUSATRIP Inc
Filing Date: 2025-05-12
Form: S-1/A
Chunk 91
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 is expected to reach more US$263 billion in 2024, growing 15% year on year. In fact, the SEA Internet sector GMV is forecast to grow to over US$300 billion by 2025. 17SEA’s digital adoption is nearing full adoption among digital users in urban SEA and reaching 94% penetration rate for e-commerce in the region.

13 See ASEAN (2024). ASEAN Matters: Epicentrum Of Growth.

14 See Worldometer (2024). South-Eastern Asia Population.

15 See Statista (2024). Share of middle-income class in overall population in the ASEAN, with a forecast for 2030.

16 See Google, Temasek and Bain & Company (2024). e-Conomy SEA 2024.

17 Ibid.

| 64 |

The aviation sector has outperformed expectations with a stronger than expected rebound, to now exceed pre-pandemic levels. While this is true across the region, a significant proportion of gross travel bookings (GTB) growth is coming from increased airfares for flights originating out of Singapore. Fuelled by expanding flight capacity within the region in recent years, over 70% of SEA travel spending now remains within APAC, including SEA itself, highlighting the increasing allure and accessibility of destinations closer to home. Overall revenue growth remains robust at 18%, with 1P channels still the majority contributor. However, online travel agencies (OTA) have been successful at monetising both their core business as well as travel-adjacent offerings such as financing and insurance. 18However, international travel is taking longer to rebound as airlines struggle to cope with demand after years of downsizing. In addition, skyrocketing prices in the international segment are also deterring travelers. Hotel occupancy rates in SEA are back to approximately 80% of pre-COVID GMV. 19Travellers are taking advantage of the relative weakness of the Japanese yen to experience Japan’s iconic landmarks, rich culture, and culinary delights. Japan saw a +5ppt year-on-year increase in consumer spend share, the highest among all destination countries. NusaTrip expects significant increases in inbound travel from China, Japan and Korea to drive travel GMV going forward. As evidence of these trends, travel-related search interest reaches or exceeds pre-pandemic levels, indicating impending demand.

Source: Google, Temasek and Bain & Company (2024). e-Conomy SEA 2024.

Online travel agencies are gaining market share over traditional channels, and