Trip.com’s Strong Revenue Growth Fueled by Domestic Travel Market Recovery

In 2023, China-based travel service provider Trip.com (NASDAQ: TCOM) reported robust revenue growth of +122%, reaching CN¥44.6 billion. This impressive increase was largely fueled by the recovery of the domestic travel market. The revenue surge was particularly notable in package tours, which saw a remarkable +294% year-over-year increase. Transportation ticketing and accommodation reservations were the primary revenue drivers, contributing ¥18.4 billion and ¥17.3 billion, respectively, to the company’s total revenue.

According to Visible Alpha consensus, Trip.com is expected to maintain its growth trajectory, with revenues projected to rise by +18% year over year in 2024 and continue experiencing double-digit growth in the years ahead. Between 2024 and 2030, Trip’s gross revenues are expected to grow at a CAGR of 12%.