Why India's Rising Middle Class Dominated the MakeMyTrip Earnings Call
Skift Take
India's rising middle class and higher disposable income have boosted spending on discretionary services, while the growing lower middle class has bolstered domestic travel, said Rajesh Magow, group CEO of MakeMyTrip, during an earnings call on Tuesday.
Magow highlighted the impact of younger generations driving a cultural shift towards more frequent breaks.
He also noted a positive long-term outlook for outbound travel from India with fast-growing pools of first-time tourists, particularly to emerging destinations like Turkey and Kazakhstan, which have seen significant increases in Indian tourists.
"For Kazakhstan, India is now the third largest source market witnessing a threefold increase in Indian tourists compared to 2021. For Turkey, the number of tourists from India has surged 34% in the first five months of 2024 compared to same period l
