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Summary
Market Insights; Indian Source Market Report provides an overview of the India outbound market, analyzing market data and providing insights. This report provides a better understanding of the number of tourists departing from India, where they are staying, their spending habits and future developments on the Indian tourist industry.
Key Findings
- Indians made over 18 million outbound trips in 2014, an increase on the 16 million trips made in 2013. Barely 2% of India's population currently travel overseas but over the past five years the country's middle classes have increased by over 10%. This demographic is set to grow from 32% at present to 50% by 2030, making it a major source market with tourism boards vying to tap into this potential tourist goldmine
- India is expected to increase its business travel and tourism following the election of Narendra Modi's Bharatiya Janata Party (BJP) pro-business government in May 2014. However, outbound tourism will be challenged by the domestic tourism industry, which is expected to experience a surge in business confidence, shown by its average of 9% annually over the historic period
- Indian travelers characteristically have been avid business travelers with 40% of all departures accounted for by business trips. While most of this MICE tourism has been consistently to the Asia-Pacific region, TTIC expects that changing trends in India's economy will spur a rise in leisure and VFR travel to the Middle East and Europe over the forecast period
- Key destinations include Thailand and UAE, as well as increasing visitors to the US. Although outbound tourism is growing, domestic investment could threaten the dominance of international trips.
Synopsis
- The report provides detailed market analysis, information, and insights, including:
- Historic and forecast tourist volumes covering the Indian outbound tourism sector
- Detailed analysis of tourist spending patterns for various categories in the travel and tourism sector, such as purpose of spending and top source markets.
- Detailed analysis of the market trends in Indian outbound tourism sector
Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to the Indian outbound market
- Understand the key market trends and growth opportunities in the Indian outbound tourism sector, along with key trends and grow opportunities
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