Blueweave
India Travel Tourism Market Bwc19107

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.

India Travel and Tourism Market

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 Size

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

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Travel and Tourism Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Rising disposable incomes and middle-class aspirations
        2. Favorable government policies
      2. Restraints
        1. Safety and security concern
      3.  Opportunities
        1. Increasing awareness of India's diverse cultural heritage and natural beauty through international media and social media
      4. Challenges
        1. Infrastructure challenges
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. India Travel and Tourism Market: Marketing Strategies
  5. India Travel and Tourism Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
        1. Leisure
        2. Educational
        3. Business
        4. Sports
        5. Medical Tourism
        6. Others (Event Travel, Volunteer Travel)
      2. By Application
        1. Domestic
        2. Inbound
        3. Outbound
      3. By Traveler Type
        1. Solo Traveler
        2. Couple Traveler
        3. Group Traveler
      4. By Travel Days
        1. Less than 7 Days
        2. 815 Days
        3. 1630 Days
        4. More than 30 Days
      5. By Travel Mode
        1. Travel Packages
        2. Self-created
      6. By Booking
        1. Online
        2. Offline
      7. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  6. North India Travel and Tourism Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Traveler Type
      4. By Price
      5. By Travel Mode
      6. By Booking
  7. South India Travel and Tourism Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Traveler Type
      4. By Price
      5. By Travel Mode
      6. By Booking
  8. East India Travel and Tourism Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Traveler Type
      4. By Price
      5. By Travel Mode
      6. By Booking
  9. West India Travel and Tourism Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Traveler Type
      4. By Price
      5. By Travel Mode
      6. By Booking
  10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Travel and Tourism Market Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  11. Impact of Escalating Geopolitical Tension on India Travel and Tourism Market
  12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. MakeMyTrip
    2. Yatra
    3. Cleartrip
    4. Goibibo
    5. Booking.com
    6. Tripadvisor
    7. Thomas Cook
    8. Easemytrip
    9. Thrillophilia
    10. Other Prominent Players
  13. Key Strategic Recommendations
  14. Research Methodology
    1.    Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Country
    5.    Assumptions & Limitations

*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

No data available
No data available

To request a free sample copy of this report, please complete the form below.

We value your investment and offer free customization with every report to fulfil your exact research needs.

This website is secure and your personal details are safe.

Frequently Asked Questions (FAQs):

Ans: India Travel and Tourism Market size was estimated at USD 78 Billion in 2023.
Ans: India Travel and Tourism Market is expected to grow at a CAGR of 7.77% during the forecast period between 2024 and 2030.
Ans: India Travel and Tourism Market size is forecast to reach a value of USD 131.7 Billion by 2030.
Ans: During the forecast period, the India Travel and Tourism Market is expected to rise due to a number of factors, including rising disposable income, accessible trip destinations, reasonably priced commuting, and the emergence of new travel trends.
Ans: : Key players in India Travel and Tourism Market include MakeMyTrip, Yatra, Cleartrip, Goibibo, Booking.com, Tripadvisor, Thomas Cook, Easemytrip, and Thrillophilia.
Ans: Based on type, the leisure segment holds a major market share in the India Travel and Tourism Market.
Ans: The domestic segment is expected to grow at the highest CAGR in the India Travel and Tourism Market during the forecast period between 2024 and 2030.
Ans: The West India region is expected to grow at the fastest CAGR during the forecast period between 2024 and 2030.