The Indian traveller has truly come of age. They are travelling to the distant corners of globe and showing a never before tendency of embracing the unknown. This major transformation has changed the landscape of the industry. An interesting dimension in the unfolding growth story of the Indian economy has also been the propensity of Indians to spend on travel and tourism. Travel and tourism consumption has been released by Google and Bain & Company report titled ‘How Does India Travel.’ It remarks that Indians spent 94 billion dollars on 2 billion international and domestic trips in 2018. This growth is only expected to increase. The report notes that the transportation spend is pegged to increase by 12 per cent to account for 50 billion USD in the next three years, whereas lodging spend is predicted to grow at 13 per cent, clocking 21 billion USD. Indians are also forecasted to spend 65 billion USD on shopping, recreation and food, amounting by 2021. The market is forecasted to grow at 13 per cent CAGR to value at 136 billion USD by 2021.
There are several other insights exhibiting the changing profile of the Indian consumer. Here is the pdf copy of the complete report.
