Happy Tour, Romania’s largest travel agency will spend around €400,000 to strengthen its brand in the local market, according to own statements.
Happy Tour’s turnover grew 7% to €50 million in 2008 from €46.4 million a year earlier.
In December 2007, the venture capital fund GED Eastern Fund based in Spain acquired majority stake in travel agency Happy Tour. The deal marked the first investment of a foreign investment fund in a domestic travel agency.
Local travel and tourism market was evaluated at around €800 million in 2008, 20% above year-ago levels.
