Monday, September 25, 2006

Flights that catch the fancy

Investing in a Web site that sells flight tickets online can hardly go wrong," says Promod Haque, Managing Partner of Norwest Venture Partners (NVP), a venture capital firm.
Speaking to eWorld, he elaborates on NVP's recent investment in, a Web site that allows users to book flight tickets and hotel reservations online.
The travel industry is growing, both in terms of corporate travel as well as personal journeys, because the economy is booming and because the disposable income of the middle-class is rising every day, he says.
Also, with mobile and broadband penetration, not only is Internet usage going up, but the amount of time spent on the Internet by each unique user has also increased.
And finally, the number of credit card users is increasing by 30-35 per cent every year. Currently, this figure stands at 17 million users in India, he says.
25/09/06 Abhinav Ramnarayan/Hindu Business Line
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