BLS International Secures Schengen Visa Contract for Slovakia, Stocks Surge 6%

BLS International, a leading outsourcing company, has clinched a significant Schengen visa outsourcing contract for Slovakia. As a result, the company's stock has witnessed a remarkable 6% increase in value.

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BLS International, a leading outsourcing company, has clinched a significant Schengen visa outsourcing contract for Slovakia. As a result, the company's stock has witnessed a remarkable 6% increase in value.

Under this new contract, BLS International will have the vital role of providing various visa services, including tourist, business, and national visas. The primary objective is to streamline and enhance the travel and immigration processes for visitors to Slovakia. According to industry statistics, 2.64 million tourists visited Slovakia in 2021, and this number is projected to rise, following prevailing travel trends.

Shikhar Aggarwal, the joint managing director of BLS International, expressed the company's commitment to aligning with core Schengen principles and elevating the visa application experience. He emphasized their dedication to setting new industry standards through innovative and customer-centric solutions.

With Slovakia emerging as an increasingly attractive tourism destination, the growth of the travel industry is expected to benefit significantly, and BLS International aims to contribute to this growth.

It's worth noting that BLS International specializes in outsourcing services for diplomatic missions and governments. In a recent announcement, the company temporarily suspended its Indian visa services in Canada, citing "operational reasons." After briefly removing the message from their website, they attributed the back-and-forth to a "technical glitch."

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However, BLS International reassured that the suspension of services in Canada would have a minimal impact on its financials. In the previous fiscal year, Canadian visa issuance contributed to less than 2% of the company's annual revenue.

The positive news has significantly impacted BLS International's stock, which is currently trading 6.4% higher at Rs 266.20. Year-to-date, the stock has appreciated by 55%, approaching its record high of Rs 302.

This development marks a substantial step forward for BLS International and is set to have a substantial impact on the travel industry and visa services in Slovakia.