Indian Outbound Tourism: The Story of the Next Decade

According to the World Travel and Tourism Council, by 2034, overseas travel spending by Indians will skyrocket to $76.8 billion, double the current figure.

India, with its booming economy and population of 1.4 billion, is emerging as a new “gold mine” for the global hotel industry.

According to a report by the World Travel and Tourism Council, Indian tourists are expected to spend an impressive $34.2 billion on outbound tourism by 2023.

However, according to Alan Watts, President of Hilton Hotels Asia-Pacific, this is just the beginning. He said that India's current tourism levels are "very small" compared to what is to come in the near future.

Outbound travel by Indians, according to Mr Watts, will be “the story of the next decade”.

According to the World Travel and Tourism Council, by 2034, Indians’ outbound tourism spending will skyrocket to $76.8 billion, double the current figure. This will help India climb to seventh place in the ranking of countries with the largest tourism spending in the world, from the current 12th place.

This growth is expected to lead to high demand for tourism services, especially the hotel industry.

India is on a strong economic growth trajectory, with the goal of increasing the size of its economy to $7 trillion by 2030 and becoming a developed country by 2047.

The Indian government is investing heavily in infrastructure, including roads, high-speed trains and airports. This will not only improve the quality of life in the country but also create huge opportunities for the hotel industry, as demand for international tourism from India increases.

According to reports, India is currently one of the most potential hotel markets in the world.

Hilton recently announced an agreement to open 150 Spark by Hilton hotels in India, indicating strong interest from international investors in this market.

India now has as many branded hotels as Las Vegas, but the market is attracting greater attention from international investors.

Major hotel chains like Marriott, IHG, Hyatt and Wyndham are not sitting still either. Marriott has announced plans to expand its hotel network in India with a target of 250 hotels by 2025.

Along with the growth in the hotel industry, India’s aviation industry is also making great strides. The country is now the third largest in the world in terms of air passenger traffic, after the US and China.

It is predicted that by 2042, India will have 960 million new passengers, a huge number.

Major airlines like Air India have started investing heavily in their fleets with a record order of 100 Airbus aircraft in 2023, opening up opportunities to connect India with global travel destinations.

On the international stage, many countries are looking to attract Indian tourists with easy access policies such as visa exemptions, direct flights and strong advertising campaigns. This will further boost the demand for international travel among Indians and at the same time expand opportunities for investors in the global hotel industry./.

(Vietnam+)

Source: https://vietnamplus.vn/du-lich-nuoc-ngoai-cua-nguoi-dan-an-do-cau-chuyen-cua-thap-ky-toi-post1002198.vnp