GlobalTix doubles revenue, books a profit amid SEA tourism recovery

Major airlines across the globe felt the chill of the end of “revenge travel,” as their profits cooled from record-breaking highs immediately after the pandemic.

But for other travel-related services, life is still a beach.

That is the case for e-ticketing platform GlobalTix, as it posted a profit before changes in fair value of S$45,000 (around US$34,000) in the financial year ending March 2024, based on its audited financial statement. During the same period, the firm’s revenue more than doubled from the previous fiscal year, too.

GlobalTix COO Chan Chee Kong (left) and CEO Chan Chee Chong / Photo credit: GlobalTix

A GlobalTix representative tells Tech in Asia that the platform “strengthened business” in Singapore, Indonesia, and Malaysia and maintained “cost discipline,” to help the company turnaround from the previous year’s loss of US$501,000.

Founded in 2013 by brothers Chan Chee Kong and Chan Chee Chong, the SaaS firm helps tourist destinations such as Marina Bay Sands in Singapore and Disneyland in Hong Kong sell their tickets to small and mid-sized travel agencies across Southeast Asia.

According to the representative, GlobalTix now sells 12 million tickets each year, a surge from the 3 to 4 million tickets a year it issued when the company first spoke with Tech in Asia in 2020.

In FY 2024, the firm’s revenue more than doubled from the previous fiscal year.

The majority of this revenue comes from the commissions it earns for bookings made by travel agencies through its platform. These are on top of the subscription fees charged to clients, who pay for one of three tiers of services. The prices of these subscriptions are not publicly available.

See also: Ticketing platform GlobalTix wants to ensure tour operators don’t get left behind

The company’s positive performance coincides with the recovery of Southeast Asia’s tourism sector. In September, the Asian Development Bank reported that 61 million people arrived in the region in the first half of 2024, 32% more than in H1 2023.

Expanding experiences

The company representative says that in the past year, GlobalTix also became the “preferred ticketing and channel manager” for experiences offered at Singapore’s Jewel Changi Airport as well as those from Faber Leisure Group, known for its attractions at Sentosa.

Meanwhile, the value of GlobalTix’s inventory grew by 70% year on year at S$3.9 million (US$2.9 million).

The company representative says that this was due to the “expanding volume of products” on the platform, as travel agents demand a wider variety of experiences to offer their clients.

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