Between 2024 and 2034, India’s outbound tourism market is expected to surge at a Compound Annual Growth Rate (CAGR) of 11.4%, reaching a projected value of US$ 55,388.41 million by 2034. This growth is chiefly fueled by the rising inclination of Indian travelers, notably millennials, towards exploring international destinations.
India’s outbound tourism market is experiencing a significant boom, fueled by a confluence of favorable factors:
- Global Accessibility: Expanding flight networks, with more direct routes and competitive airfares, are making international travel more accessible and affordable for Indian travelers.
- Rising Disposable Income: India’s growing affluence is translating to increased discretionary spending, leading to a surge in demand for international travel experiences.
- Experiences Over Souvenirs: Millennials, a dominant travel demographic, are driving the demand for experiential travel and cultural exploration, pushing outbound tourism forward.
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- Digital Revolution: Rising internet penetration in India is facilitating easier access to travel information and booking platforms, empowering more Indians to plan and embark on international adventures.
- Government Push: Government initiatives promoting international tourism and easing visa restrictions are further encouraging exploration of foreign destinations.
- Social Media Inspiration: The allure of exotic locations and travel experiences showcased on social media is fueling wanderlust and inspiring Indians to travel abroad.
- Travel for Every Budget: Affordable travel packages and discounts offered by travel agencies are making international vacations more attainable for a wider range of Indian tourists.
- Global Hospitality Embrace: The expansion of international hotel chains and accommodations catering to Indian preferences is enhancing the overall travel experience for outbound travelers.
- Wellness on the Horizon: Growing awareness about health and wellness tourism is encouraging Indians to seek rejuvenation and relaxation at international destinations.
Further, the demand for packaged holidays offered by companies such as Cox & Kings is rising as more Indians travel overseas for the first time. Indian travelers are growing more daring and like to customize their travels by selecting unexpected locales and novel activities. To improve the outbound tourist business, the government might take measures like increasing direct links to popular and emerging places, permitting foreign cruise ships to sail in Indian waters, and making deliberate and coordinated efforts on several fronts.
Key Takeaways from the India Outbound Tourism Market Study:
- European and North American destinations, is currently dealing with issues like exceptionally long visa processing times and scarce air connectivity with high prices.
- Top three tourist destinations for Indians are expected to be Thailand, Singapore, and the U.S.
- Business travels and holiday/leisure are the most popular purpose types in the India outbound tourism market
- Online booking channels is expected to dominate the India outbound tourism market in terms of booking channel.
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Key Players:
- Orbit
- Thomas Cook
- SOTC Kuoni
- Raj Travels
- In Orbit Tours
- Cox and Kings
- TCI
- Kesari
- Travelmart India
- Riya Travels
- Akbar Travels
- BTI Sita
- BCD Travels
- Mercury Travels
- Gold Chip
- Kesari
- Amadeus ( as per request)
India Outbound Tourism Market By Category
By Purpose Type:
- Business
- Holiday/Leisure
- VFR & Others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Tourism Type
- Cultural & Heritage Tourism
- Medical Tourism
- Eco/Sustainable Tourism
- Sports Tourism
- Wellness Tourism & Others
By Tour Type:
- Independent Traveller
- Package Traveller
- Tour Group
By Consumer Orientation:
- Men
- Women
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
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