Skift India Report

Even as Thailand is a popular travel destination among Indians, most places beyond Bangkok and Phuket remain unexplored. Smaller resorts and businesses now seem to be trying to attract Indian tourists.

Due to close proximity, the nations of Nepal, Sri Lanka, and Bhutan witness significant tourism from India. With preferences of Indian travelers changing, boutique properties are reaching out with diverse offerings to attract this tourism segment.

There has been a surge in international travel among Indians, powered by increase in spending power. Indian airlines, to serve this growth in demand, are expanding their operations.

Indian weddings mean big money. The Indian government is aiming to harness India's cultural diversity and vast offerings to promote the country as the preferred domestic and international wedding destination.

While there are several co-branded credit cards offered by airlines and hotels, banks releasing travel-focused core credit cards indicates a shift in consumer preference and the rising popularity of travel credit cards in India.

Being meticulous planners and financially independent, young travelers have made India a lucrative source market for several countries.

MakeMyTrip shares insights into changing preferences of Indian travelers as the Indian tourism industry is poised for significant growth in 2024.

India is one of the most important source markets for Thailand. Pre-Covid, nearly 2 million Indian tourists flocked to Thailand, making India the third-largest source market in 2019. Now, Thailand is looking to bring India back to pre-Covid levels.

Travel and tourism industry accounted for around 6% of India's GDP in 2022. The country has therefore been focusing on boosting tourism.

The aviation industry in India is undergoing changes as the market is underserved. ICRA has, therefore, maintained a stable outlook on the sector.