INDIA OUTBOUND LEISURE MARKET
Outbound trips from India will surpass USD 42 billion by 2024, on a separate note One of the key segments being targeted by destinations and tourism stakeholders as they look at India for revival of tourism is luxury travel. It was also the only segment that stayed afloat during the pandemic and emerged as a life-saver for many.
In 2019, outbound luxury travel market in India was valued at USD 8 billion and it is expected to climb rapidly to USD 11 billion by 2024, despite the hiccups caused by the pandemic.
Luxury outbound travel from India is also growing rather very rapidly, and the trend is expected to continue as more Indian travelers intend to travel overseas over the course of the year. This increase in travel confidence has largely been propelled by increasing disposable incomes among younger generations, such as Generation Z and millennials.
The number of Indian travellers interested in travelling overseas is at an all-time high, with destinations around the world also eager to tap into India as a new lucrative source market.
With the rise of disposable incomes, many Indians now have greater access to luxury experiences that can be facilitated through travel. Airlines are responding to this demand with aggressive expansion of capacities between various Indian cities and global destinations, improving the availability of direct flights and providing more options for outward-bound travellers. This makes it easier for Indian travellers to explore new destinations and experience the world more luxuriously.
Increased awareness and access to information: With the rise of the internet and social media, Indian travellers have more access to information about luxury travel destinations and experiences than ever before. This has made it easier for them to plan and book luxury trips and helped increase their awareness of the options available. New destinations which weren’t previously seen as viable are now being explored by adventurous Indians searching for something different and unique outside their country.
As India's middle class continues to grow, more people have the financial means to indulge in luxury travel. This has led to an increase in the number of people who can indulge in high-end travel experiences, such as luxury cruises and all-inclusive resorts.
Changing travel preferences: Indian travelers are increasingly seeking out unique and authentic travel experiences, rather than just sticking to traditional tourist hotspots. This has increased demand for luxury travel options that offer unique and personalized experiences, such as private tours and bespoke travel itineraries.
Another factor driving this trend is the increased desire among Indian travelers to experience new cultures and ways of life. This is particularly true among the younger generations, who are more likely to seek out unique and authentic travel experiences. As a result, many destinations are now offering tailored luxury travel packages that cater to the specific interests and preferences of Indian travelers.
The future looks bright for Indian outbound luxury travel due to its increasing popularity among younger generations and improved infrastructure across international airports in India and abroad. With this industry booming as never before, we expect to see many exciting opportunities for globetrotters from India looking for unforgettable trips throughout the world.
