For the second year in a row, travel software provider Open Destinations has been ranked in the Sunday Times SME Export Track 100 league table. Open Destinations, appearing at number 74, is one of thirteen software providers featured in the research report, which ranks the top 100 small and medium-sized companies (SME) with the fastest-growing overseas sales.
Open Destinations experienced an average of 43% in international sales over the past two years, with particular growth in the regions of Australasia, Latin America and Southeast Asia.
‘We are really pleased to be featured among the fastest growing companies in the UK once again,’ says CEO Kevin O’Sullivan. ‘This award confirms our view that our software is relevant to tour operators around the world.’
The Sunday Times reported that Europe was the main overseas market for 80% of the companies featured in the SME Export Track. O’Sullivan claims that Open Destinations has seen tremendous growth in Europe over the past decade and is adamant that if the UK leaves the EU, it will negatively impact the company’s future expansion. ‘The UK has become a hub for the travel technology sector and we will certainly feel the impact of leaving the EU. The legal uncertainty that it will create could well motivate companies to choose local suppliers as an alternative to UK-based companies. I hope we vote to remain in the EU.’
Open Destinations’ revenues are projected to continue to grow rapidly over the next few years, with the majority of sales projected to come from international markets.