Research Nester released a report titled “India Outbound Tourism Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the India outbound tourism market in terms of market segmentation by type of tourism, by type of traveller and by channel of booking.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
As per the data recorded by Pacific Asia Travel Association (PATA), around 40% of outbound trips by Indians are for business purposes. Moreover, the segments for leisure, visiting friends & relatives and other purposes each account for over 20% of the total trips.
The India outbound tourism market gained a market value of USD 2,980.8 million in 2018. The number of passengers travelling from India to France increased from 800,000 in 2018 to 864,000 in 2019, and this is anticipated to grow at a high rate in the coming years.
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The market is segmented by type of tourism, by type of traveller and by channel of booking. On the basis of type of tourism, the market is segmented into leisure, visit to friends and relatives, business and others. The segment for leisure held the highest market share of about 55% in 2018 on the back of rising trend of vising other countries for travel by the Indian community. Based on the type of traveler, India outbound tourism market is segmented into high net-worth individual (liquid financial assets above USD 1 million), ultra-high net-worth individual (liquid financial assets above USD 30 million) and others. The individuals with high net worth contribute to outbound tourism by making huge investments in the travel agencies for luxury tours abroad, thus resulting in the segment holding the leading share in the market.
Rising Tourist Attractions in France to Boost the Market Growth
France consists of a wide variety of cultural and natural resources along with a reputation for vibrant, artistic creativity, which is attracting the interest of a large number of Indian travelers. On the back of this, the market for India outbound tourism is predicted to grow in the next few years. However, the price sensitivity among Indian travellers is a major challenge in tourism industry which is estimated to limit the growth of the India outbound tourism market.
This report also provides the existing competitive scenario of some of the key players of the India outbound tourism market which includes company profiling of Creative Travel, Luxury Gold, The Appointment Group Limited, Original Travel, Thomas Cook (NSE: THOMASCOOK), ABC Travels, International Travel House (BOM: 500213) and Cox and Kings (NSE: COX&KINGS).
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the India outbound tourism market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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