Consumer sentiment and demand outlook is positive, says MakeMyTrip's Rajesh Magow

Online travel firm MakeMyTrip on Wednesday said consumer sentiment and long-term demand outlook remain positive.

In an interview with CNBC-TV18, Rajesh Magow, co-founder of MakeMyTrip, said India is better poised on any metric than many other global economies.

Talking about the rebound in travel, Magow said, "As the travel picked up, it is a huge amount of travel for the last three-four quarters that's been happening across whether it is domestic or even international."

He said the minister made a comment yesterday that India is still a little behind than the pre-pandemic number when it comes to the domestic travel numbers on a daily basis, "But we are getting there, right, and then the overall international might still be a little behind, thanks to fares being high, maybe the capacity issues, maybe also the operational issues related to visas, etc."

Magow is of the opinion that the travel technology industry, or overall internet-led businesses, or the ecosystem which was supporting all the internet businesses have significantly changed, "The whole digital payment ecosystem has completely changed so much so that in this area, we are actually ahead of China already."

He added that smartphones have been a game changer. Smartphones saw a power shift from big cities to tier-II and tier-III cities.