Budget carrier IndiGo on Friday reported a loss of INR 9.9 billion ($118 million) in the most recent quarter – a reversal after seven straight profitable reports for India’s largest airline.
23.10.2024 - 06:51 / skift.com / Narendra Modi / Bulbul Dhawan
Indians spent over $2 billion on international travel in August, data from the Indian central bank shows – the highest amount in the past 12 months. Travel held the lion’s share in total overseas spending during the month: close to 63% of $3.2 billion.
The 2023-24 fiscal yearshowed the highest overseas travel spending on record: $17 billion. It was 25% more than the 2022-23, and accounted for 54% of overall international spending. By comparison, Indians spent about $7 billion on international travel in the 2019-20 fiscal year – 37% of overall overseas spending.
The initial increase was attributed to revenge travel post-pandemic, but the sustained spending this year is indicative of a long-term trend. Indians are willing to spend more on travel and are becoming a key source market for outbound tourism, according to a report by consulting firm McKinsey and Company.
Travel services company Collinson International last month revealed that Millennials in India are spending an average of $6,031 on travel annually, more than any other generation.
Indian travelers are also spending more on unique experiences. In a separate report, Collinson had shared that more than 50% of Indian sports travelers are spending over $500 per trip per person to attend sporting events: a significant amount for a country where middle class individuals have an annual income between $6,000 and $36,000.
Prime Minister Narendra Modi has inaugurated three new airports in India under the Regional Connectivity Scheme: Rewa in Madhya Pradesh, Ambikapur in Chhattisgarh, and Saharanpur in Uttar Pradesh. These airports will commence operations under the scheme soon.
The Regional Connectivity Scheme (RCS-UDAN) is an initiative meant to upgrade and develop aviation infrastructure in India to improve connectivity to smaller cities. The scheme also aims to increase scheduled flights to these smaller regions through government’s financial support.
The focus on improving connectivity has led to the emergence of new airlines such as Akasa Air and Fly91. Two more airlines, Alhind Air and Air Kerala, are also in the process of getting clearance to commence operations.
These three airports are expected to connect people from nearby regions to major aviation hubs in the country. Currently, people from some parts of the country have to travel for a few hours to get to the nearest airport.
Visa processing platform Atlys has recorded a 146% increase in visa applications for Vietnam as compared to 2023. The biggest surge in applications have been recorded in Bengaluru, Mumbai, and Delhi.
Solo travelers accounted for 66% of the visa applications, the platform noted. Meanwhile, group travel has also increased, especially among Gen Z and Millennials.
Budget carrier IndiGo on Friday reported a loss of INR 9.9 billion ($118 million) in the most recent quarter – a reversal after seven straight profitable reports for India’s largest airline.
Online travel company Ixigo’s board on Thursday approved plans to acquire a 51% stake in train e-catering food service Zoop. The deal is for INR 125.4 million ($1.5 million).
Goa’s Department of Tourism has launched a slew of adventure tourism activities, such as paramotoring and shooting range experiences along with white water rafting, bungee jumping, and scuba diving. This, it said, is meant to cater to the growing demand for unique experiences among travelers.
This episode of the Skift India Travel Podcast sets the stage for an in-depth discussion on India’s evolving corporate travel market. Avinash Chandani, partner at Deloitte India, talks to Asia Editor Peden Doma Bhutia about the growth potential of the Indian corporate travel market. Key topics include growth drivers, industry trends like blended travel, the impact of technology and data, and the role of travel management companies. The podcast provides an insight into how businesses are navigating high travel costs, geopolitical challenges, and shifting traveler expectations providing a comprehensive understanding of the opportunities and challenges in India’s corporate travel landscape, with a mix of data-driven analysis and expert commentary.
Indian hospitality chain The Leela has announced the launch of Arq by The Leela – its collection of “ultra-luxury villas.” The collection has been launched at the Leela Palace Udaipur and is being positioned as a “hyper-personalized Palace within a Palace” by the hotel chain. The hotel chain will introduce more Arq by The Leela collections across its portfolio.
Travel metasearch engine Skyscanner is preparing to launch a new marketplace within its app that offers a range of additional services.
If you're looking for a true breath of fresh air in the most literal sense, the pros at QR Code Generator have a new study you're going to want to see. In September, the team unveiled the findings of its newest study, which showed which U.S. and European destinations have the lowest pollution rates, offering the cleanest air possible for travelers and locals alike.
Wyndham Hotels and Resorts is introducing its Microtel by Wyndham Brand to India – its eighth brand in the country – through a development agreement with NILE Hospitality.
In its latest move to attract international travelers, budget carrier IndiGo has entered into a codeshare agreement with Malaysian Airlines. In a codeshare agreement, partner airlines are able to sell seats in flights operated by the other carrier.
This year is shaping up to be a “year of contrasts” for the Asia Pacific hotel market, according to real estate services company JLL.
India’s sports tourism market is expected to grow at an annual rate of 17% and reach $53 billion by 2033. A new report by KPMG – ‘Harnessing India’s Sports Tourism Potential’ – looks at the challenges India faces in capturing this potential.
Minimalism, for Gautam Munjal, the founder of Minimalist Hotels, is more than a buzzword — it’s about offering a high-quality experience without excess, appealing to travelers who are increasingly eco-conscious. In the latest episode of the Skift India Travel Podcast, catch Munjal in conversation with Asia Editor Peden Doma Bhutia as he talks about integrating hybrid spaces that cater to both work and leisure needs, while aiming to tap into the growing demand for flexibility among young urban travelers. He also sees food and beverage as an essential part of the guest experience, introducing unique concepts like craft cocktail bars and cozy cafés.