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.
The market for India outbound tourism (to France) consists of the money spent by Indian travelers on their trips to France, including the costs of air travel, food, insurance, visa, domestic travel, accommodation, local sightseeing and other such expenses. The 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.
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. On the other hand, the segment for business is anticipated to grow as a result of rising expenditure by businesses on their trips. Based on the channel of booking, the market for India outbound tourism market is segmented into travel agent, online and others, out of which, the segment for online channel is anticipated to hold the leading share in the market. This can be attributed to rising internet penetration and increasing number of smartphone users
Rising Expenditure on Travel to Drive the Market Growth
According to the World Bank, the per-capita income of India was USD 7,762.9 in 2018 and this is anticipated to further increase in future.
The disposable income of the Indian population is increasing on the back of growing economy of the country. This is leading to a direct increase in leisure activities including international travel, which is estimated to become a major growth factor for the India outbound tourism market. 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). 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.