In this episode of the Skift India Travel Podcast, Asia Editor Peden Doma Bhutia sits down with Mahesh Iyer, managing director and CEO of Thomas Cook India, to explore how the company is strategically adapting to the evolving preferences of Indian travelers. The discussion delves into the shifting dynamics of India’s travel landscape and how Thomas Cook is positioning itself to meet these new demands.
How the Indian Diaspora Is Supporting India's Inbound Travel Growth - India Report
14.08.2024 - 05:12 / skift.com / Bulbul Dhawan
India’s travel landscape is evolving rapidly, reflecting the country’s growing economic clout and the increasing confidence of its travelers. The first half of 2024 saw a significant surge in both outbound and inbound tourism, with Trevolution Group reporting 46% market growth compared to the same period last year. This uptick is not just a rebound from the pandemic but an indicator of the deeper shifts in Indian travel habits.
Trevolution reported that trans-Pacific flights, in particular, have soared well above pre-pandemic levels, driven by a combination of increased flight connectivity, a robust economic outlook, and a burgeoning middle class eager to explore the world.
The traditional leisure tourism sector remains strong, but what’s particularly noteworthy is the sharp growth in the visiting friends and relatives (VFR) segment. This reflects the deep ties of the Indian diaspora, particularly the 4.4 million Indian Americans, who are increasingly making frequent trips back home.
For Trevolution Group, which sold over 54,000 airline tickets to and from India in the first half of 2024, these trends are highly encouraging. The company’s 68% increase in outbound tourism sales and 37% growth in inbound tourism highlight India as a pivotal market.
While India’s travel demand continues to rise, the country’s travelers are also becoming more discerning, seeking out both value and flexibility. This bodes well for companies like Trevolution.
The travel habits of Indian passengers reveal a marked shift towards greater flexibility. The demand for round-trip tickets has risen, yet there’s also a significant increase in one-way tickets, pointing to a desire for more adaptable travel plans. This is further evidenced by the growing number of last-minute bookings, as Indian travelers take advantage of more affordable and accessible international flights.
As airfares stabilize and even decrease — in the first half of 2024, airfares to India were 27% cheaper in Economy and 8.5% in Business class, with the average Economy ticket price being $894.32. — international travel is becoming increasingly accessible to a wider segment of the population.
This affordability, combined with the push to boost tourism, signals a robust outlook for the travel industry in India. The next phase of growth will likely see more Indians venturing abroad.
“India remains a key market for Trevolution Group, consistently demonstrating strong growth in air travel year after year. It was also one of the first markets to rebound to pre-pandemic levels by 2021,” said Alex Weinstein, the founder of Dyninno Group, which restructured and rebranded as the Trevolution Group in 2022.
Hospitality company Oyo has raised INR 14.5 billion (approximately
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