Yes, velocity can be defined as speed combined with direction. While speed refers to how fast an object is moving, velocity includes both the magnitude (speed) and the direction of the motion.
For example, if you say a car is traveling at 60 kilometers per hour, that refers to the speed of the car. However, if you say the car is traveling at 60 kilometers per hour to the north, that provides both the speed and the direction, thus defining the velocity of the car.
Velocity is a vector quantity because it has both magnitude and direction, whereas speed is a scalar quantity as it only has magnitude. It's important to consider both speed and direction when describing the motion of an object accurately.