Spending on outbound tourism to rise 11%, reaching $55 bn in 2034: Report

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Spending on outbound tourism to rise 11%, reaching $55 bn in 2034: Report - Business Standard

Quick Summary:

The 'Navigating Horizons' report jointly prepared by Nangia NXT and Ficci said packaged tours still dominate the outbound market in India, with a share of 39.20 per cent in 2024, as there is a preference for choosing pre-planned tour packages from travel service providers due to greater convenience and customisation.

The report said that availability of Indian or vegetarian food options as well as awareness about niche tourism will help increase the number and frequency of Indians engaging in foreign travel in the coming years.

The market has already seen robust growth with rising disposable incomes, an expanding middle class, systemic ease and flexibility in obtaining visas, and a desire for international experiences.