“Indians spent US$ 12.2 Billion on outbound travel in 2015 and it is predicted to be US$ 91 Billion by 2030”, says RNCOS.
Online PR News – 11-October-2017 – Noida – The significant increase in per capita disposable income at a CAGR of 8% between 2014 -2020 in India is expected to stimulate growth in spending on leisure products and tourism. The number of outbound tourist from India has increased during 2010-15 at an impressive rate of 10%. The increasing numbers of middle class families in India, improving air connectivity, education and increasing curiosity for different culture are all the factors which are expected to propel the growth of Indian outbound tourism.
Highlighting the potential of this industry, Shushmul Maheshwari, CEO – RNCOS said, “Continuing at this growth rate, outbound departures from India will double in coming years. This significant growth is backed by numerous factors, such as, improving general economic condition and the effect of recession wiping away.”
Around 25 million Indians stay overseas and this is emerging as one of the major reason for Indians to visit overseas. Countries across the world have realized the potential of Indian market. Popular destinations such as European countries, South Africa, Mauritius have adopted aggressive advertising strategies for promoting and brand building. The National Tourism Organizations (NTO) and ministry of tourism of these countries have adopted aggressive strategy for Indian outbound market and raised their budget for the Indian market.
NTOs have launched print and visual advertisements, campaigns, and road shows to attract the Indian consumer. Countries are trying to adapt to the expectations of Indian consumers, for instance ensuring the availability of vegetarian food, to make their experience during the stay better.
Air connectivity is improving. Overnight flights from countries such as Finland, Sweden and Denmark have more than doubled in the last five years. Most of the countries are working to increase the frequency of direct flights. Most of the countries such as Kenya, Maldives, and Mauritius have eased their visa regulations providing visa on arrival for Indian traveler.
The mindset of Indian travelers has changed. Once only the elite class would opt for foreign travel for higher education or business purpose. Now with increasing trend of dual income families and increasing number of woman in the workforce foreign vacations are no more reserved for the privileged.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.