With the disposable income keep on increasing, Indians now took more than Rs 182 crore domestic and international trips in the year 2018, spending around $94 Billion which is much more Equals to the 4% of the entire GDP.
The expenditures of the Indian Travelers now grew at the compounded rate of 10% from the last three years and could even grow at a high rate of $136 Billion by the end of 2020, according to the report which has been revealed by the Google and Bain Management Company.
Domestic trips accounted for the majority of the travel at close to around 200 crores Domestic trips in the year 2018 and expenditure of around $80 Billion. Moreover, 2.7 crore international trips were held by the Indian at the time period of 2018, which costs around $22 Billion.
Indians have also spent close to 10% of their average disposable income on the tourism and travel, which is much more as compared to some other developed countries like the Japan, US, UK, and Australia. Airways are the fast-growing popularity within the Travelers of the Indian.
India has more than 40 crores internet active users, and it hardly makes the surprise of about $23.5 Billion, or the 30% of the expenditure on the travel, that was spent over the internet. The penetration of the online booking is much more highly for both the rail and air travel, at around 50% while on the other hand for the lodging it remains moderate at 27% as per the report which has been revealed.
Some of the reports also revealed that the expenditure on the travels by the Indian s to grow to $136 Billion in the coming couple of three years, net booking could grow by $24 Billion at the same period, the report revealed. That grows up the immense opportunity for the aggregators of the online traveler.
The tourism industry which even includes the local, as well as the inbound tourism from some other countries, is also one of the significant generators for employment. As it counts for around 10% of the India GDP in the year 2018.
