Tourism Source Market Insights: India - Analysis of tourist profile, traveler flows, spending patterns, main destination markets, and risks and opportunities
Summary India’s outbound tourist market has experienced rapid growth in correlation with a fast-growing economy, with a compound annual growth rate (CAGR) of more than 11% between 2012 and 2016. Having reached more than 23 Million outbound trips in 2016, it is expected to increase to over 30 Million by 2021, making India one of the quickest growing outbound tourist markets in the world.
India has experienced significant economic growth and a fast growing middle class, which has led to surge in the outbound tourism. Despite the huge growth, the number of outbound trips remains at just about 2% of the country’s total population. Therefore, India presents a huge opportunity for the travel industry as incomes continue to grow and more of the population can afford to travel internationally.
Business is the main purpose for outbound travel from India and comprised more than a third of all trips in 2016. Visiting friends and relatives (VFR) also remains a major reason for international travel, primarily due to the large Indian diaspora around the world.
India’s technology sector drives business travel and the US is the most popular destination. Indian business travellers are likely to use gyms and spas while traveling for work. Hence, understanding the needs of these travellers will be important for the industry to capitalize on this large market.
The report "Tourism Source Market Insights: India", provides a thorough insight into India’s outbound tourism industry. India is of the fastest growing outbound tourist markets in the world, this report delves into different aspects of this market, including traveler profiles, traveler flows, spending patterns, main destination markets, how to attract Indian tourists, and future risks and opportunities.
Companies mentioned in this report: Spicejet, Star Cruises, Costa Cruises, Royal Caribbean, Skyscanner, Air India Express, Turespaña
Scope - Business trips are the main reason for outbound tourism from India, comprising 34.6% of all trips in 2016. - Bollywood has a significant impact on where Indians travel and has made Europe a highly desirable destination. However, the majority of international departures are within the Asia-Pacific region as Europe remains unaffordable for the large share of Indian tourists. - Demonetization and the Goods and Services Tax could hinder growth in the outbound tourist market if there are significant economic implications.
Reasons to buy - This report provides in-depth insight into one of the fastest growing outbound tourist markets with huge potential and a plethora of opportunities. - The report uses data, surveys and analysis to discuss current and future topics related to traveller flows, spending patterns and how to attract Indian tourists. - The reader will gain a strong understanding of the market as well as the risks and opportunities available.
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