Report Overview

India Travel & Tourism Market: Overview

The India travel & tourism industry has emerged as one of the key drivers of growth among the services sector in India. During January-October 2018 FEEs from tourism augmented over 8 percent year-on-year to USD 23.54 billion. In 2017 the travel & tourism sector in India accounted for 8 percent of the total employment opportunities. Growing infrastructural developments, increasing standards of living, and rising government focus on promoting tourism sector are some of the other major factors expected to aid the country’s travel & tourism market in the next few years.

The Indian government has apprehended the country’s potential in the tourism industry and has taken numerous steps to make India a global tourism hub. The Government of India is working to achieve a 1 percent share in the world’s international tourist arrivals by 2020 and 2 percent share by 2025. India offers geographical diversity, world heritage sites and niche tourism products such as cruises, adventure, and eco-tourism. Furthermore, growth in Travel & Tourism sector is anticipated to be robust as millions of people are moved to travel to see the country’s culture and heritage.

Government Initiatives: Some of the major initiatives planned by the Government of India to give a boost to the tourism and hospitality sector of India

·         Statue of Sardar Vallabhbhai Patel, also known as ‘State of Unity’, was inaugurated in October 2018. It is the highest standing statue in the world at a height of 182 meters. It is expected to boost the tourism sector in the country and put India on the world tourism map

·         Under Budget 2018-19, the government has allotted USD 183.89 million for Integrated development of tourist circuits under Swadesh Darshan and Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASAD)

Leisure & Recreation segment is projected to dominate the India travel & tourism market during the forecast period.

On the basis of visit purpose, the India travel & tourism market has been segmented into Business, Leisure & Recreation, Education, Medical, Social Activity, and Others. Over the years tourism has rapidly grown and it is an important sector for many regions and countries all over the world. Leisure & Recreation is anticipated to be the leading segment in India travel & tourism market followed by Medical purpose due to increasing stress, cortisol levels, and anxiety. Recreation means “restoration to health”. To reduce these entire problem people go with leisure and recreation activities help to nurture oneself provides a sense of balance and self-esteem. India is one of the fastest growing medical destinations provides world-class and standardized medical services and care with the help of the latest technology. The main factor that attracts medical value travel to India is cost-effectiveness and treatment from recognized facilities at par with developed countries at a much lower cost.

Ticket Reservation segment is estimated to be the fastest growing segment in the India travel & tourism market during the forecast period.

On the basis of product/service offering, the India travel & tourism market has been segmented into Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Travel Insurance, Foreign Exchange, and Others. Ticket reservation segment is projected to be the fastest growing segment followed by holiday/tour packages. Tourism generates a huge amount of employment opportunity for the people and ticketing also is one of them. Ticketing is one of the important aspects owing to the growth of Tourism activities throughout India and the frequency of level of growing air traveler to cover up the larger distance in short time lap. Holiday/Tour package is also growing rapidly due to the offer and service they provided. Tour package includes offers like hotels reservation, convenient transfers, varied sightseeing options and an array of activities to choose from, delectable meals and niche experiences.

Southern Region accounts for largest share of the India travel & tourism market during the forecast period.

On the basis of region, the travel & tourism market has been segmented into North, South, East, and West. Southern India dominates the India travel & tourism market and project to lead the market during the forecast period 2019-2025. Owing to medical and wellness tourism. Leisure & recreation, which is the main purpose of visit in the country, accounts for the largest market share, on the back of increasing number of people visiting families and friends for various occasions and tour operators offering cheap packages. Tamil Nadu is the most visited tourist states destination in the Southern region by both Indian and International tourists. Southern Region is the most popular medical tourism destination in India.

 Objective of the Study:

·         To analyze and forecast market size of the India travel & tourism market, in terms of value & volume.

·         To examine the careful market segmentation and forecast the market size, in terms value, on the basis of region by segmenting travel & tourism market into four regions, namely, North, South, East and West.

·         To outline, categorized and forecast the India travel & tourism market on the basis of product type, application and vehicle type.

·         To examine competitive developments like expansions, technological advancement, services, and regulative framework within the India travel & tourism market.

·         To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

·         To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

India Travel & Tourism Market Competitive Landscape

Companies such as MakeMyTrip (India) Private Limited, Yatra Online Private Limited, India, Cleartrip Pvt. Ltd., Indian Railway Catering and Tourism Corporation Ltd., Thomas Cook (India) Ltd., Travel Corporation (India) Ltd., SOTC Travel Services Pvt. Ltd., Air India Limited, 
Mahindra Holidays and Resorts India Limited (MHRIL), Jet Airways (India) Limited, Cox & Kings Ltd., Indian Hotels Company Limited (IHCL) are the key players of travel & tourism market in India.

Key Target Audience:

·         Market research and consulting firms

·         Industry associations

·         Research organizations and consulting companies

·         Travel & tourism companies operating in India

·         Organizations, associations and alliances related to Travel & tourism market

·         Regulatory bodies

Scope of the Report

By Product/Service Offering

·         Ticket Reservation

·         Hotel Booking

·         Holiday/Tour Packages

·         Travel Insurance

·         Foreign Exchange

·         Others

By Type

·         Domestic

·         Inbound

·         Outbound

By Purpose of Visit

·         Leisure & Recreation

·         Education

·         Medical

·         Social Activity

·         Others

By Tourist Profile

·         Indians

·         Foreign Nationals

In addition, the report provides analysis of the India travel & tourism market with respect to the following geographic segments:

·         North

·         South

·         East

·         West

Business Questions answer by the report

·         How will the market drivers, restraints and opportunities affect the market dynamics?

·         What will be the market size in terms of value and volume and market statistics with detailed classification

·         Which segment dominates the market or region and one will be the fastest growing and why?

·         A comprehensive survey of the competitive landscape and the market participant players

·         Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority. And that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

·         With five additional company detail analysis.

·         Additional country analysis.

·         Detailed segment analysis.