In a conference call following the release of its financial results for the first quarter, Tui Group’s chief executive, Fritz Joussen, said that while the group has been transforming from predominantly a tour operator to a “vertically integrated business” it has been considering which markets it could enter afresh.

Frank Rosenberger will be tasked with managing the process, after being appointed Tui Group’s head of strategy in October 2015 from Vodafone.

“We must enter them in a different way to our other source markets,” said Joussen.

“We will enter them fully digitally and we have a plan to achieve one million customers and €1 billion in revenue by 2022.

"We’re looking at countries with increasing middle classes and high synergies," he added. 

“This will be a very important exercise for our future.”

Joussen admitted that Tui Group would tread carefully when entering the new markets.

“We cannot invest a huge amount and then find out it doesn’t work,” he said.

“Many companies have entered China for example and come back with a bloody nose.”