Articles tagged “travel spending”

India's foreign exchange earnings are up. Travel spending per tourist is up. But international tourists in India are still lagging behind pre-Covid figures by 10%.

EaseMyTrip's new travel debit card with Bank of Baroda checks all the boxes, but just on paper.

Younger generations form the biggest traveler base in India, and are key to the country's growth as a source market. Millennials' willingness to spend more on travel is a positive sign for their tourism economies of their destinations.

More than 65% of Indian population is aged below 35. With increasing spending power, these young travelers make for a large potential traveler base.

The importance of religion to tourism in India is well known. India is now investing in marketing and tourism infrastructure - think technology, hotels and other amenities – to attract more visitors.

Several factors are playing in India's favor as a tourism source market: its population, emerging younger generation, and competition leading to reduced travel costs.

International visitor spending in India in 2023 was 14% below pre-pandemic levels. UPI One World wallet eliminates the need for international travelers to carry currency, and could boost tourism spending in India.

Today's podcast looks at the latest airline to pull from China, new trends for business travel, and what the Travel Corporation acquisition means for private equity deals.

Indian travelers are becoming an attractive source market, a McKinsey says. And a boom in the domestic travel market is leading to "substantial investments."

Of course, we know that Indians are traveling more than ever, but nothing like statistics to highlight just how significant travel spending has become.