India's New High Net Worth Travelers – India Report

12.07.2024 - 21:05 / skift.com / Bulbul Dhawan

We’ve written a lot about India’s rising middle class – and how they’re set to keep spending more on travel. But now we’re hearing more about India’s high net worth travelers in a new report from Marriott International.

According to the research, culinary experiences are a key driver for Indian travelers. In fact, for them, a hotel’s fine dining options are more important than the property’s location.

India is also driving the trend of exclusive experiences in the Asia Pacific region, the report stated. “Affluent Indian travelers have a deep appreciation for culture, architecture and design and are willing to pay more for VIP access.” 

A significant portion of Indian travelers are planning to spend more on their leisure travel this year, looking at six trips over the course of the year, with an average three-four nights for a short trip and two-three weeks for a long holiday.

Nearly 50% of the Indian travelers are willing to pay more for luxury hotel brands, and wellness within their leisure trips is a priority. 

A full, fast-paced itinerary is also a preference for Indian travelers, the report added.

Key Destinations for Indians: About 70% of these high net worth Indian travelers are planning a trip to Australia, followed by Singapore, where more than 50% of travelers are planning to visit. 

Japan, Malaysia, Thailand, New Zealand, Hong Kong, and Maldives are among other key destinations for Indians in the Asia Pacific (APAC) region. 

A recent report by consulting firm McKinsey and Company said that India is a fast-growing source of outbound tourism. During the 2023-24 financial year, Indians spent about $17 billion on international travel.

The government will work on increasing the contribution of tourism to India’s Gross Domestic Product (GDP) to 10% from the current level of just over 6%. 

Tourism minister Gajendra Singh Shekhawat said that India has several verticals of tourism, including culture, nature, wildlife, activity, adventure, and more. 

“We will work on how these verticals of tourism can be further developed, so that, along with increasing the contribution of tourism to the country’s GDP, employment opportunities can also increase,” he said.

Low-cost Indian airline Akasa Air has announced that it will be commencing flights to Abu Dhabi starting July 11. This will mark the carrier’s fourth international destination. Akasa Air will operate daily direct flights between Mumbai and Abu Dhabi. 

The airline commenced its international operations earlier this year, when it started flying to Doha, and then it expanded its network to include Jeddah and Riyadh in Saudi Arabia. It has also been granted flying rights to Kuwait, co-founder Praveen Iyer told Skift in an earlier interview. 

Akasa Air’s