The Air India and Vistara merger has been ongoing for over 20 months and is now in its final phase with an expected completion date of November 12, the airlines announced Friday.
20.08.2024 - 10:00 / skift.com / Paris Olympics / Peden Doma Bhutia / Saniya Zanpure
Catch Asia Editor Peden Doma Bhutia in conversation with Saniya Zanpure, Skift’s research analyst, as they dive into the Skift Travel Health Index (STHI) — a tool that tracks and measures the performance of various travel sectors. They explore why the travel industry in 2024 is mirroring 2023, with insights into the factors driving this stability. Plus, they look at India’s rise as a major player in global travel and find out what’s fueling this rapid growth.
Skift Travel Health Index: Tracks performance across all travel sectors, initially launched as the Skift Recovery Index during the pandemic to measure industry recovery.
Benchmarking Evolution: Originally compared monthly performance to 2019, but in 2024, it shifted to comparing performance year-over-year to capture current trends better.
2024 Stability: Travel performance in 2024 is stable, similar to 2023. Some sectors, like car rentals, have slowed, while others like aviation and hotels continue to grow.
India’s Outbound Market Growth: India is on track to become the fifth-largest outbound market by 2027, driven by favorable demographics, increased disposable income, and a young, aspirational population.
Visa and Connectivity: Improved visa processes and direct flights have boosted travel, especially to emerging destinations like Vietnam and Kazakhstan.
First-Time Travelers: For first-time travelers, international travel is not just about vacationing, it’s about personal growth, cultural enrichment, and the pursuit of unique experiences. This shift is influenced by several factors, including globalization, social media and exposure to diverse cultures.
Increased Spending: Indians are spending more on travel, especially on transportation and accommodation, while also maximizing value through travel hacks and credit card points.
Sports Tourism: Sports tourism is growing among Indians, with cricket, Formula One, and the Paris Olympics being top attractions.
Social Media Influence: Social media and travel influencers significantly shape travel preferences, particularly among younger generations.
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In this episode, Skift Asia Editor Peden Doma Bhutia and Saniya Zanpure, Skift research analyst, discuss the evolution and significance of the Skift Travel Health Index, a tool tracking the performance of the global travel industry. Initially launched as the Skift Recovery Index in 2020, the index benchmarked monthly travel performance against 2019 levels to gauge the industry’s recovery from the Covid-19 pandemic. However, in 2024, the index shifted its focus to year-over-year comparisons, providing a more relevant snapshot of current industry trends.
The conversation highlights the stability of travel performance
The Air India and Vistara merger has been ongoing for over 20 months and is now in its final phase with an expected completion date of November 12, the airlines announced Friday.
Did you know: In 2022, the number of domestic tourists who visited Indian pilgrimage sites was more than India’s population – 1.43 billion.
Over 80% of Indians have either had or are planning a destination wedding, a survey conducted by search aggregator Skyscanner showed. This preference is strongest among Gen Z, with about 50% of that group indicating that they are considering a destination wedding. This figure is 33% among Millennials.
Travel research and events leader Phocuswright has released its Global Travel Market Report 2024, revealing an impressive 24 percent surge in 2023, with gross bookings reaching $1.5 trillion.
India’s tourism industry is experiencing a major transformation, fueled by the growing middle class and increasing disposable income. Asia Editor Peden Doma Bhutia and India Reporter Bulbul Dhawan recap this month’s developments, discussing India’s rising influence in global tourism. With the country’s booming economy making headlines, what does this mean for global travel?
Sri Lanka is set to launch a six-month pilot program on October 1, offering free 30-day tourist visas on arrival to citizens from 35 countries, including the U.S., UK, Russia, India and China. The initiative, which temporarily waives the typical $50 visa fee, aligns with the island nation’s peak travel season, lasting from December to mid-April. This move is part of a broader strategy to revitalize tourism, a sector crucial to Sri Lanka’s economy.
What can India and U.S. do to boost tourism? According to the first Indo-U.S. Tourism and Hospitality Summit held by the Indo-American Chamber of Commerce in Delhi on Friday, the answer is speedier visas and more direct flights.
Skift’s State of Travel 2024 report highlighted that the Middle East and Africa are seeing a surge in international tourism, driven largely by Saudi Arabia’s push in recent years.
Branded hotel room signings in India during the April to June quarter surged by nearly 40% from the same period in 2023, according to data by real estate services company JLL. During the quarter, over 9,700 new keys across 82 branded hotels were signed, while another 50 hotels opened during this period.
IndiGo, India’s largest airline, will be introducing a business class on the high-demand Delhi-Mumbai route. This is a strategic move by the airline to meet the growing demand for luxury and premium travel.
Travel services operator Alhind Group based in Kerala’s Kozhikode has received the Indian aviation regulator Directorate General of Civil Aviation (DGCA)’s initial approval to start an airline. Alhind aims to commence operations of Alhind Air by the end of 2024.
Looking to bolster its presence in the European short-term rental market, India-based hospitality company Oyo has acquired Paris-based rental management company Checkmyguest. The acquisition is valued at INR 2.3 billion ($27.4 million), according to reports.