International tech stocks tend to go overlooked, but they may be this year’s biggest moneymakers as global economic conditions rebound and investors become nervous about high-flying US tech stocks like Nvidia (NASDAQ:NVDA). Though it didn’t hit the wider news cycle, the iShares Global Tech ETF (NYSEARCA:IXN) returned nearly 50% over the past year, far outpacing even the S&P 500’s solid 25% increase over the same period.

But just because the wider asset class is on a bull run doesn’t mean you’ve missed the boat. These three international tech stocks still offer plenty of upside and are (relatively) under the radar, meaning that building a position today could pay off massively tomorrow.

Trip.com Group Ltd (TCOM)

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Tourism is a major slice of China’s economy, and Trip.com Group Ltd (NASDAQ:TCOM) stands out as one of the few international tech stocks best positioned to capture long-term upside in the sector. What’s particularly unique about the international tech stock at this point is that Trip.com is set to capture a massive upswing as China’s Zero-Covid policies fully twilight. In other words, per Citi’s 2024 outlook, the “aggregate economic impact of the policies of 2023 is likely to produce a mild cyclical recovery in 2024” for China.

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TCOM is a single-shop source for ticketing, hotel reservations, and travel planning for 50%+ of China’s tourism market. Before the pandemic, Chinese tourism was rapidly increasing, hitting 154.63 million international outbound tourists in 2019 before collapsing to just 20.33 million in 2020. Since then, though, tourism has more than doubled. As of 2023’s first half, more than 40 million tourists left the mainland. While it remains far below pre-pandemic levels, the rapid increase on the heels of the Zero-Covid regime ending alongside a projected economic reversal could make TCOM this year’s top international tech stock.

Jumia Technologies (JMIA)

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Africa’s eCommerce and digital retail solutions are increasingly part of the continent’s daily life. Jumia Technologies (NYSE:JMIA) is one of the few international tech stocks able to seize the $36 billion market. Jumia exuberance hit markets a few years ago when investors called the stock the “Amazon (NASDAQ:AMZN) of Africa.” Since then, shares currently trade at a fraction of past highs, though the small-cap stock is up more than 20% since the start of the year. And, though over-enthusiasm inflated Jumia’s prospects, there’s real potential behind its operational plan.