The Indian Outbound Travel Market is expected to increase at a compounded growth rate of over 25% over the five year period scanning from 2010 to 2015. A consumption-driven economy coupled with a population keen to explore the world, India is well positioned for a booming travel and tourism industry. India's outbound travel market is recognized as one of the key emerging sources of tourism for the world.
India’s economy is expected to grow 9.5 per cent in 2010 and 8.5 per cent in 2011, according to the International Monetary Fund (IMF). As such, consumer confidence remains at a high, with India topping the Nielsen Global Consumer Confidence Survey for the first quarter of 2010.
PATA President & CEO Peter de Jong said, "With India being one of the fastest growing markets in our region, the eyes of the travel industry are turning to this country of 1.1 billion residents, and its rapidly expanding middle class. Indians are among the highest spenders in key destinations around the region such as Singapore and Hong Kong SAR. And every year, millions more Indians move into an income bracket where they can afford to travel overseas. In very many ways, India is a market of incredible opportunity."
A strong, consumption-driven economy, a large and increasingly affluent middle class, and the on-going liberalization of air transport will contribute to a 10 per cent annual growth in Indian outbound travelers over the next three years, according to a new report released recently.
India has a growing number of travel agents and tour operators all over the country. Located in metros, cities towns, meeting them under one roof is always a challenge.
With numerous holiday options growing for them to promote, it is critical that NTOs and travel companies from around the world meet them regularly and familiarize them their product with regular updates.
Over 35 countries have a full time representation in India. Road shows and B2B / B2C meetings are held round the year.
Trade shows and marts are routinely organized by Airlines, Tourism Boards, Hotel Chains and Representation Companies.
Apart from regular leisure travel, Indians are taking on to beach holidays, spa vacations, Casino Trips and safaris.
The recent explosion in the MICE segment where Indian Corporate houses are choosing to do their conferences and events outside the country has been a major factor in the explosion and boom in the outbound market.
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