India Travel Tourism Market Bwc19107
India Travel and Tourism Market, By Type (Leisure, Educational, Business, Sports, Medical Tourism, Others); By Application (Domestic, Inbound, Outbound); By Traveler Type (Solo Traveler, Couple Traveler, Group Traveler); By Travel Days (Less than 7 Days, 8–15 Days, 16–30 Days, More than 30 Days); By Travel Mode (Travel Packages, Self-created); By Booking (Online, Offline); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: January 2024
- Report ID: BWC19107
- Available Format: PDF
- Page: 328
Report Overview
Easy access to trip destinations across the country, reasonably priced commuting, the emergence of new travel trends, and rising disposable income among growing middle class are expected to boost the growth of India Travel and Tourism Market during the forecast period between 2024 and 2030.
India Travel and Tourism Market – Industry Trends & Forecast Report, 2030
The India Travel and Tourism Market size was estimated at USD 78 billion in 2023. During the forecast period between 2024 and 2030, the India Travel and Tourism Market size is projected to grow at a significant CAGR of 7.77% reaching a value of USD 131.7 Billion by 2030. The India travel and tourism market is expected to boom due to a number of factors, including rising disposable income among thriving middle class, accessible trip destinations, reasonably priced commuting, and the emergence of new travel trends. In the coming years, an increase in government investments in the travel and tourism market will further fuel the growth of India Travel and Tourism Market during the period in analysis.
Travel and Tourism – Overview
Travel and tourism encompass the dynamic activities of individuals or groups moving from one location to another for diverse purposes. Travel involves the physical journey, spanning local commutes to international voyages, driven by motives ranging from business engagements to leisurely exploration. Tourism, a broader concept, encapsulates the entire experience of individuals temporarily residing in places outside their usual environment for recreational, cultural, or business pursuits. This multifaceted industry incorporates key components like transportation, accommodation, attractions, hospitality services, travel agencies, and tour operators.
India Travel and Tourism Market
Growth Drivers
Rising Disposable Income and Aspirations among Expanding Middle Class
As India undergoes an economic development, an increasing number of people are experiencing improvements in their financial capabilities, leading to greater disposable incomes. This newfound financial capacity allows individuals and families to allocate a portion of their income to leisure activities, including travel. The expanding middle class, characterized by a rising standard of living and increased purchasing power, is a key demographic driving the growth of the Travel and Tourism Market in India. Aspirations for a better quality of life often translate into a desire for travel experiences, both within the country and abroad. This trend is particularly notable in urban areas where access to employment opportunities and economic growth is more pronounced.
Challenges
Infrastructure Challenges
Inadequate and outdated transportation infrastructure, including roads, airports, and railways, can lead to delays, inefficiencies, and increased travel times. It can deter both domestic and international tourists from exploring various destinations within India. Connectivity between popular tourist destinations and remote areas can be a challenge. Poor connectivity limits accessibility and hinders the development of lesser known but potentially attractive locations. While there has been considerable growth in the number of hotels and accommodations, there are still regions that lack sufficient and quality lodging options. It can be a deterrent for tourists seeking diverse and comfortable stay experiences.
Impact of Escalating Geopolitical Tensions on India Travel and Tourism Market
Geopolitical tensions can create an atmosphere of uncertainties and insecurity, leading to a decline in tourist arrivals. Travelers may be hesitant to visit a region perceived as politically unstable due to concerns about safety and security. Geopolitical tensions can affect the international image of a country. Negative perceptions resulting from political unrest may discourage potential tourists, impacting India's tourism brand and reputation. Political tensions can lead to disruptions in travel plans, with flights being canceled, borders closed, or increased security measures causing inconvenience for tourists. These uncertainties can discourage people from making travel arrangements to or within the affected region.
India Travel and Tourism Market
Segmental Coverage
India Travel and Tourism Market – By Type
Based on type, India Travel and Tourism Market is divided into Leisure, Educational, Business, Sports, Medical Tourism, and Other (including Event Travel and Volunteer Travel) segments. The leisure segment is expected to grow at the fastest rate over the forecast period owing to the demographic profile of the Indian population is evolving, with a significant youth bulge and a growing urban middle class. Younger generations often prioritize experiences over material possessions, driving the demand for leisure travel experiences. The advent of the internet and social media has played a crucial role in increasing awareness about diverse travel destinations and experiences. Indians now have access to a wealth of information and are exposed to global travel trends, influencing their preferences toward leisure-oriented travel.
India Travel and Tourism Market – By Application
Based on application, India Travel and Tourism Market is divided into Domestic, Inbound, and Outbound segments. The domestic segment is expected to grow at the fastest CAGR in India Travel and Tourism Market by application during the forecast period, as the expanding middle class population in India has witnessed an increase in disposable incomes. This demographic shift has enabled more people to afford leisure travel, contributing to the growth of domestic tourism. As India experiences economic growth, there is an improvement in infrastructure, transportation, and overall connectivity. This makes it easier for people to travel within the country, leading to an increase in domestic tourism. India boasts a rich cultural and geographical diversity with historical landmarks, scenic landscapes, diverse cuisines, and a variety of traditions. The allure of exploring different cultures and landscapes within the country attracts domestic travelers across the world’s most populous country.
India Travel and Tourism Market – By Region
Geographically, the India Travel and Tourism Market is divided into North India, South India, East India and West India region. The West India region is expected to grow at the fastest rate over the forecast period. West India is home to several culturally and historically significant destinations. Cities like Mumbai, Pune, and Ahmedabad boast iconic landmarks, museums, and historical sites that attract both domestic and international tourists. The region has a vast coastline along the Arabian Sea, offering picturesque beaches and coastal attractions. Goa, in particular, is renowned for its beautiful beaches, vibrant nightlife, and water sports, making it a popular destination for both leisure and adventure travelers.
Competitive Landscape
Major players operating in India Travel and Tourism Market include MakeMyTrip, Yatra, Cleartrip, Goibibo, Booking.com, Tripadvisor, Thomas Cook, Easemytrip, and Thrillophilia. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
-
In August 2023 - MakeMyTrip and the Ministry of Tourism formed a partnership to present more than 600 unusual and distinctive travel locations. To support this campaign, MakeMyTrip launched a dedicated microsite called "Traveller's Map of India."
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2030 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
Revenue in USD Billion |
Market Coverage |
India |
Product/ Service Segmentation |
Type, Application, Traveler Type, Price, Travel Mode, Booking |
Key Players |
MakeMyTrip, Yatra, Cleartrip, Goibibo, Booking.com, Tripadvisor, Thomas Cook, Easemytrip, Thrillophilia |
By Type
-
Leisure
-
Educational
-
Business
-
Sports
-
Medical Tourism
-
Others (Event Travel, Volunteer Travel)
By Application
-
Domestic
-
Inbound
-
Outbound
By Traveler Type
-
Solo Traveler
-
Couple Traveler
-
Group Traveler
By Travel Days
-
Less than 7 Days
-
8–15 Days
-
16–30 Days
-
More than 30 Days
By Travel Mode
-
Travel Packages
-
Self-created
By Booking
-
Online
-
Offline
By Region
-
North India
-
South India
-
East India
-
West India
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- India Travel and Tourism Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Rising disposable incomes and middle-class aspirations
- Favorable government policies
- Restraints
- Safety and security concern
- Opportunities
- Increasing awareness of India's diverse cultural heritage and natural beauty through international media and social media
- Challenges
- Infrastructure challenges
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- India Travel and Tourism Market: Marketing Strategies
- India Travel and Tourism Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- Leisure
- Educational
- Business
- Sports
- Medical Tourism
- Others (Event Travel, Volunteer Travel)
- By Application
- Domestic
- Inbound
- Outbound
- By Traveler Type
- Solo Traveler
- Couple Traveler
- Group Traveler
- By Travel Days
- Less than 7 Days
- 8–15 Days
- 16–30 Days
- More than 30 Days
- By Travel Mode
- Travel Packages
- Self-created
- By Booking
- Online
- Offline
- By Region
- North India
- South India
- East India
- West India
- By Type
- Market Size & Forecast, 2019–2030
- North India Travel and Tourism Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- By Application
- By Traveler Type
- By Price
- By Travel Mode
- By Booking
- Market Size & Forecast, 2019–2030
- South India Travel and Tourism Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- By Application
- By Traveler Type
- By Price
- By Travel Mode
- By Booking
- Market Size & Forecast, 2019–2030
- East India Travel and Tourism Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- By Application
- By Traveler Type
- By Price
- By Travel Mode
- By Booking
- Market Size & Forecast, 2019–2030
- West India Travel and Tourism Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- By Application
- By Traveler Type
- By Price
- By Travel Mode
- By Booking
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- India Travel and Tourism Market Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tension on India Travel and Tourism Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- MakeMyTrip
- Yatra
- Cleartrip
- Goibibo
- Booking.com
- Tripadvisor
- Thomas Cook
- Easemytrip
- Thrillophilia
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Country
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 India Travel and Tourism Segmentation
Figure 2 India Travel and Tourism Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Figure 5 India Travel and Tourism Market Share, By Type, By Value, 2019–2030
Figure 6 India Travel and Tourism Market Share, By Application, By Value, 2019–2030
Figure 7 India Travel and Tourism Market Share, By Traveler Type, By Value, 2019–2030
Figure 8 India Travel and Tourism Market Share, By Price, By Value, 2019–2030
Figure 9 India Travel and Tourism Market Share, By Travel Mode, By Value, 2019–2030
Figure 10 India Travel and Tourism Market Share, By Region, By Value, 2019–2030
Figure 11 North India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Figure 12 North India Travel and Tourism Market Share, By Type, By Value, 2019–2030
Figure 13 North India Travel and Tourism Market Share, By Application, By Value, 2019–2030
Figure 14 North India Travel and Tourism Market Share, By Traveler Type, By Value, 2019–2030
Figure 15 North India Travel and Tourism Market Share, By Price, By Value, 2019–2030
Figure 16 North India Travel and Tourism Market Share, By Travel Mode, By Value, 2019–2030
Figure 17 South India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Figure 18 South India Travel and Tourism Market Share, By Type, By Value, 2019–2030
Figure 19 South India Travel and Tourism Market Share, By Application, By Value, 2019–2030
Figure 20 South India Travel and Tourism Market Share, By Traveler Type, By Value, 2019–2030
Figure 21 South India Travel and Tourism Market Share, By Price, By Value, 2019–2030
Figure 22 South India Travel and Tourism Market Share, By Travel Mode, By Value, 2019–2030
Figure 23 East India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Figure 24 East India Travel and Tourism Market Share, By Type, By Value, 2019–2030
Figure 25 East India Travel and Tourism Market Share, By Application, By Value, 2019–2030
Figure 26 East India Travel and Tourism Market Share, By Traveler Type, By Value, 2019–2030
Figure 27 East India Travel and Tourism Market Share, By Price, By Value, 2019–2030
Figure 28 East India Travel and Tourism Market Share, By Travel Mode, By Value, 2019–2030
Figure 29 West India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Figure 30 West India Travel and Tourism Market Share, By Type, By Value, 2019–2030
Figure 31 West India Travel and Tourism Market Share, By Application, By Value, 2019–2030
Figure 32 West India Travel and Tourism Market Share, By Traveler Type, By Value, 2019–2030
Figure 33 West India Travel and Tourism Market Share, By Price, By Value, 2019–2030
Figure 34 West India Travel and Tourism Market Share, By Travel Mode, By Value, 2019–2030
List of Tables
Table 1 India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Table 2 India Travel and Tourism Market Size, By Type, By Value, 2019–2030
Table 3 India Travel and Tourism Market Size, By Application, By Value, 2019–2030
Table 4 India Travel and Tourism Market Size, By Traveler Type, By Value, 2019–2030
Table 5 India Travel and Tourism Market Size, By Price, By Value, 2019–2030
Table 6 India Travel and Tourism Market Size, By Travel Mode, By Value, 2019–2030
Table 7 India Travel and Tourism Market Size, By Region, By Value, 2019–2030
Table 8 North India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Table 9 North India Travel and Tourism Market Size, By Type, By Value, 2019–2030
Table 10 North India Travel and Tourism Market Size, By Application, By Value, 2019–2030
Table 11 North India Travel and Tourism Market Size, By Traveler Type, By Value, 2019–2030
Table 12 North India Travel and Tourism Market Size, By Price, By Value, 2019–2030
Table 13 North India Travel and Tourism Market Size, By Travel Mode, By Value, 2019–2030
Table 14 South India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Table 15 South India Travel and Tourism Market Size, By Type, By Value, 2019–2030
Table 16 South India Travel and Tourism Market Size, By Application, By Value, 2019–2030
Table 17 South India Travel and Tourism Market Size, By Traveler Type, By Value, 2019–2030
Table 18 South India Travel and Tourism Market Size, By Price, By Value, 2019–2030
Table 19 South India Travel and Tourism Market Size, By Travel Mode, By Value, 2019–2030
Table 20 East India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Table 21 East India Travel and Tourism Market Size, By Type, By Value, 2019–2030
Table 22 East India Travel and Tourism Market Size, By Application, By Value, 2019–2030
Table 23 East India Travel and Tourism Market Size, By Traveler Type, By Value, 2019–2030
Table 24 East India Travel and Tourism Market Size, By Price, By Value, 2019–2030
Table 25 East India Travel and Tourism Market Size, By Travel Mode, By Value, 2019–2030
Table 26 West India Travel and Tourism Market Size, By Value (USD Billion), 2019–2030
Table 27 West India Travel and Tourism Market Size, By Type, By Value, 2019–2030
Table 28 West India Travel and Tourism Market Size, By Application, By Value, 2019–2030
Table 29 West India Travel and Tourism Market Size, By Traveler Type, By Value, 2019–2030
Table 30 West India Travel and Tourism Market Size, By Price, By Value, 2019–2030
Table 31 West India Travel and Tourism Market Size, By Travel Mode, By Value, 2019–2030
Table 32 MakeMyTrip Company Overview
Table 33 MakeMyTrip Financial Overview
Table 34 Yatra Company Overview
Table 35 Yatra Financial Overview
Table 36 Cleartrip Company Overview
Table 37 Cleartrip Financial Overview
Table 38 Goibibo Company Overview
Table 39 Goibibo Financial Overview
Table 40 Booking.com Company Overview
Table 41 Booking.com Financial Overview
Table 42 Tripadvisor Company Overview
Table 43 Tripadvisor Financial Overview
Table 44 Thomas Cook Company Overview
Table 45 Thomas Cook Financial Overview
Table 46 Easemytrip Company Overview
Table 47 Easemytrip Financial Overview
Table 48 Thrillophilia Company Overview
Table 49 Thrillophilia Financial Overview
Market Segmentation
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