India Travel & Tourism Market to Grow with a CAGR of 8.27% through 2030
The India Travel & Tourism market is
experiencing robust growth, driven by rising disposable incomes, a growing
middle class, government initiatives, increasing domestic and international
travel, and expanding digital platforms
According
to TechSci Research report, “India Travel & Tourism Market – By Region, Competition,
Forecast & Opportunities, 2030F”, the
India Travel & Tourism market stood at USD 19.44 billion in 2024 and is
anticipated to grow USD 31.21 billion by 2030 with a CAGR 8.27% during forecast
period. India’s Travel & Tourism market has experienced significant growth
over the last decade, and it continues to be one of the fastest-growing sectors
within the economy. With its vast cultural heritage, diverse landscapes, and
historical landmarks, India remains an attractive destination for both
international and domestic travelers. The market's expansion is supported by
several key factors, including an increasing middle class, greater disposable
income, improved infrastructure, and digital advancements that make travel
easier and more accessible. This dynamic growth is also bolstered by government
initiatives aimed at promoting tourism, such as the Dekho Apna Desh campaign
and the Incredible India campaign.
One of the key drivers of this market is
domestic tourism, which has grown at a remarkable pace in recent years. As more
Indian citizens are able to afford travel, the domestic tourism market has
surged, especially with the ease of travel during long weekends and festive
periods. Additionally, the growing popularity of road trips, short getaways,
and exploring offbeat destinations within the country have contributed to this
rise. The COVID-19 pandemic also played a role in boosting domestic tourism as
travel restrictions prompted Indians to rediscover their own country. The
government's initiatives, including the promotion of local destinations and
offering incentives to tourists, have been pivotal in fostering this trend.
Experiential travel has also emerged as
a significant trend within the Indian market. Indian travelers are increasingly
seeking personalized and immersive experiences, shifting away from traditional
sightseeing tours. The focus now is on authentic cultural encounters, such as
village stays, rural tourism, and engaging with local communities. Moreover,
wellness tourism has gained popularity, with travelers looking for holistic
experiences that cater to both physical and mental well-being. Yoga retreats, Ayurvedic
treatments, and eco-friendly resorts are in high demand, especially among
international tourists. The rise of wellness tourism also aligns with a broader
global trend towards healthier lifestyles and sustainable tourism practices.
Browse
over xx market data Figures spread through xx Pages and an in-depth TOC on
" India Travel & Tourism Market”
The India Travel
& Tourism market is segmented into type, service offering, purpose of visit,
booking type, regional distribution, and company.
Based on the booking
type, the online segment was the fastest-growing segment in the India Travel
& Tourism market, driven by increasing internet penetration, smartphone
usage, and the convenience of booking travel through digital platforms.
Consumers prefer booking flights, hotels, and activities online due to time
efficiency and competitive pricing. The growth of online travel agencies (OTAs)
and mobile apps, along with improved digital payment solutions, has further
accelerated this trend. The COVID-19 pandemic also played a role in pushing
more travelers to adopt online platforms, providing a significant boost to the
segment.
Based on region,
the South region was the fastest-growing segment in India's Travel & Tourism
market, driven by increased regional tourism, higher disposable incomes, and
the growing popularity of destinations like Kerala, Tamil Nadu, and Karnataka.
The rise of domestic travel, supported by improved infrastructure and
government promotions, has further contributed to the region's growth.
Additionally, South India’s rich cultural heritage, wellness tourism, and
coastal offerings continue to attract both domestic and international tourists,
further fueling this expansion.
Major companies
operating in India Travel & Tourism market is:
- Thomas Cook
(India) Ltd.
- Country
Holidays Inn and Suites Pvt. Ltd
- Yatra Online
Limited
- Riya Travel and
Tours Pvt. Ltd.
- Cox & Kings
Limited
- Cleartrip
Private Limited
- Indian Railway
Catering and Tourism Corporation Ltd.
- Makemytrip
(India) Private Limited
- Le Travenues
Technology Limited (“ixigo”)
- SOTC Travel
Limited
Download Free Sample Report
Customers can
also request for 10% free customization in this report.
“Infrastructure
development has played a pivotal role in the growth of India’s tourism sector.
The government’s investments in airports, highways, and rail networks have
significantly enhanced the accessibility of remote destinations, making travel
more convenient for both domestic and international visitors. In addition to
transportation, the hospitality sector has expanded with a surge in the number
of hotels, resorts, and other accommodations catering to a wide variety of
budgets. The advent of online travel agencies (OTAs) and booking platforms has
also simplified the booking process, providing a convenient solution for
travelers to plan and book their trips,” said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based management consulting firm.
"India Travel &
Tourism Market, By Type (Domestic, Inbound, Outbound), By Service Offering
(Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Others), By Purpose
of Visit (Business, Leisure & Recreation, Education, Medical, Social
Activity, Others), By Booking Type (Travel Companies, Travel Agencies, Online,
Others), By Region, Competition, Forecast & Opportunities, 2020-2030F”,
has evaluated the future growth potential of India Travel & Tourism market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the India Travel & Tourism market.
Contact Us-
TechSci
Research LLC
420 Lexington
Avenue, Suite 300,
New York, India-
10170
M: +13322586602
Email: [email protected]
Website: www.techsciresearch.com