India To Become 4th largest Spender In Global Travel By 2030
India’s tourism industry is experiencing an unprecedented boom, especially in the wake of the global pandemic and the country is poised to become the fourth-largest global spender in the travel sector by 2030, with total expenditures estimated to soar to a staggering $410 billion. This represents a massive 173 percent increase compared to pre-Covid times in 2019 when Indian travellers spent a total of $150 billion, ranking India as the sixth-largest global spender.
The incredible recovery of India’s tourism expenditure is showcased in Booking.com and McKinsey & Company’s latest report titled ‘How India Travels.’ This report highlights several key factors that are propelling this resurgence.
In 2022, India led the way in tourism expenditure recovery, reaching 78 percent of 2019 levels. This impressive recovery far outstripped the Asian average of 52 percent. As a result, the number of aggregate trips is projected to increase dramatically, from 2.3 billion in 2019 to a staggering 5 billion by 2030.
Indian travellers exhibit remarkable spontaneity in their trip planning, with an average window of just 29 days. This places India ahead of Japan (57 days) and the USA (63 days) in terms of trip spontaneity.
Travellers prioritize culinary convenience, with over 80 percent of them valuing restaurant and room service options during their stay. This culinary emphasis is a notable feature of Indian travel preferences.
Indian travellers are increasingly looking beyond their borders for their next vacation. New destinations from Vietnam, Indonesia, and Nepal have entered the top ranks.
The report also highlights the role of social media in influencing travel decisions. In 2022, 91 percent of Indian travellers expressed that YouTube is their preferred social media platform for travel inspiration, followed closely by Instagram, which captured the interest of 85 percent of Indian travellers.
India’s tourism industry is on an exciting trajectory, offering new experiences, destinations, and opportunities for travellers. As the country’s tourism sector continues to grow, it will not only benefit the local economy but also provide tourists with diverse and enriching experiences. With the willingness of Indian travellers to explore and discover, the future of India’s tourism industry looks incredibly promising.
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