Global (excl USA) - Institutional
Online travel agency Trip.com continues to execute well operationally, recording 16% revenue growth in the second quarter of 2025 and 10% operating profit growth. Although competitive intensity is picking up in the technology space in general, Trip.com has so far managed to avoid the sort of price war that we are seeing in other sectors like ecommerce and food delivery. Incoming tourists to China are proving to be a significant opportunity, with the company seeing 60% growth in Q2, helped by China's easing of visa policies for inbound tourism from an increasing number of countries.
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