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Indian tourists on the rise: Report
It is conceivable that Indian tourists may embark on 80 million to 90 million trips annually by 2040
Representative image / Image - Unsplash
According to a report by McKinsey and Company, India is poised to become a significant global source market for leisure travel, driven by its increasing economic prosperity and rapid economic growth.
India has now emerged as the fifth-largest economy globally, surpassing China in population with over 1.4 billion people. Notably, the population is predominantly young, with a median age of 27.6, more than a decade younger than that of many major economies. Projections indicate that the consumption of goods and services, encompassing leisure and recreation, is expected to double by 2030. Coupled with a robust post-pandemic travel recovery and a burgeoning interest in international travel, these factors underscore India's substantial potential as a key player in outbound tourism.
With the anticipated growth in GDP per capita and an increasing inclination toward international travel, there is a prospect of a significant surge in Indian travellers exploring the world. Drawing parallels with China's outbound travel trajectory, given similarities in population size and per capita income trends, it is conceivable that Indian tourists may embark on 80 million to 90 million trips annually by 2040.
Before the onset of the COVID-19 pandemic, India's outbound tourist market stood out as one of the fastest-growing markets in Asia. Remarkably, India has made substantial strides in its recovery, reclaiming 61 percent of its pre-pandemic market, with a notable figure of 13 million outbound tourists in 2022, the report highlighted.
When it comes to the preferences of Indian travellers, proximity plays a pivotal role in decision-making. Approximately 70 percent of travellers opt for destinations that are nearby. With a travel time of less than four hours and a significant Indian diaspora, the Middle East emerges as a favored destination for about one-third of Indian travelers, closely followed by destinations in South Asia. For more extended journeys, North America and Western Europe are prominent choices among Indian travelers.
The report also revealed that Indian travellers exhibit diversity in their preferences, with destination choices varying across regions. Notably, tourists from North India represent a substantial portion of those heading to the United States and Canada. On the other hand, approximately two-thirds from Kerala express a preference for destinations in the Middle East.
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