How India Is Set to Be a Powerhouse in $15 Trillion Global Leisure Travel Market
Photo Credit: An Indian family at the Monkeyland Primate Sanctuary in South Africa. South Africa Tourism
Skift Take
India’s fast-growing leisure travel market is set to reshape global tourism, driven by a new generation of travelers with rising disposable incomes who are prioritizing meaningful, experience-led journeys over budget constraints.
The global leisure travel market is expected to triple in value by 2040 to reach $15 trillion, according to Boston Consulting Group’s new report. And India is among the countries expected to drive this surge.
Domestic leisure travel is expected to reach $12 trillion by 2040, while regional travel will triple to over $2 trillion, according to the report. International leisure travel is projected to grow the fastest, however, it will still hold the smallest share of around $1.4 trillion.
BCG added that the next wave of travelers is increasingly originating from “emerging markets” such as China, India, Saudi Arabia, and Vietnam. These markets, it added, are outpacing traditional tourism drivers like the U.S., U.K., and Germany.
Projections for India: “India is poised to become one of the most dynamic leisure travel markets globally,” said Nitima Malhotra, partner at BCG. “With domestic leisure travel spend projected to grow at 12
