Saudi’s Seera Mounts Comeback to Report Operating Profit for 2022

Driven by the resurgence in demand for travel, Saudi Arabia-based travel services provider Seera Group reported its first yearly post-pandemic operating profit of $800,000 in 2022, compared to a loss of $76 million in 2021. This return to profit for the group for the year was mostly bolstered by Seera's financial results for the third quarter in which the group had reported a post-pandemic operating profit of $8 million. In 2022, the group generated gross booking value of $2.5 billion, a 94 percent growth relative to the $1.3 billion recorded in 2021. Almosafer, Seera’s travel platform, which operates the consumer and business travel business lines, as well as the destination management company Discover Saudi and Hajj and Umrah tour operator Mawasim, achieved around 74 percent growth in gross booking value to $1.6 billion in 2022 compared to 2021. Almosafer noted that travel demand in 2022 surged across inbound, outbound and domestic tourism and at times, exceeded 2019 levels. Wi