India Travel & Tourism Market Size, 2018 Trend and Opportunities, PESTEL Analysis, CAGR And Value Chain Study To 2028
India Travel & Tourism market is driven by rising disposable incomes and middle-class aspirations, the digital transformation of the industry, and government initiatives aimed at enhancing infrastructure and promoting tourism.
As
per the TechSci Research report titled "India
Travel & Tourism Market - Industry Size, Share, Trends,
Competition Forecast & Opportunities, 2029," the India Travel &
Tourism Market achieved a value of USD 18.92 billion in 2023. It is expected to
expand at a Compound Annual Growth Rate (CAGR) of 13.45% during the forecast
period from 2025 to 2029. The India Travel & Tourism market is a vibrant
and diverse sector that has long been a substantial contributor to the nation's
economy and cultural tapestry. Renowned for its extensive history, diverse landscapes,
and a plethora of cultural attractions, India has consistently enticed
globetrotters from all corners of the world.
Travel
and tourism in India boast deep-rooted historical origins. From ancient trade
routes crisscrossing the Indian subcontinent to the arrival of European
explorers and the era of British colonialism, India has served as a crossroads
for various cultures and civilizations. Its historical landmarks, such as the
Taj Mahal, the palaces of Jaipur, and the temples of Varanasi, continuously
draw tourists seeking a glimpse into the past.
Browse
over XX market data Figures spread through XX Pages and an in-depth TOC on "India
Travel & Tourism Market”
https://www.techsciresearch.com/report/india-travel-and-tourism-market/17443.html
The
travel and tourism sector significantly contributes to India's economy. It not
only adds to the Gross Domestic Product (GDP) but also generates employment
opportunities and fosters growth in several related industries. Domestic
tourism has been a driving force in India. The country's immense geographical
and cultural diversity offers a wealth of experiences to its own citizens. From
the snow-clad Himalayas in the north to the sun-drenched beaches of the south,
domestic tourists explore a wide array of destinations. The government's
"Incredible India" campaign has encouraged Indians to discover their
own country.
India
has also been a preferred destination for international tourists. The country's
blend of historical, cultural, and natural attractions has attracted visitors
from around the globe. Before the COVID-19 pandemic, foreign tourist arrivals
(FTAs) were consistently increasing, with India hosting millions of tourists
annually.
The
COVID-19 pandemic, which emerged in late 2019, had a severe impact on the
travel and tourism sector globally, including India. Lockdowns, travel
restrictions, and health concerns led to a dramatic decline in both domestic
and international tourism. The sector faced significant challenges, such as job
losses, business closures, and the need to adapt to new safety protocols.
Nevertheless,
despite the challenges posed by the pandemic, the India Travel & Tourism
market has displayed resilience. As vaccination campaigns progress and travel
restrictions ease, the industry has been on a path to recovery. A shift toward
domestic tourism has been observed, with travelers exploring local
destinations, hill stations, and nature-centric locations.
The
pandemic accelerated the adoption of digital technologies in the travel
industry. Online bookings, contactless check-ins, and digital health
certificates became common practices to enhance safety and convenience. Travel
companies and agencies swiftly adapted to these changes to meet evolving
consumer expectations.
Sustainability
and responsible tourism have gained prominence in India. Travelers increasingly
seek experiences that are environmentally friendly and contribute positively to
local communities. Eco-friendly accommodations, wildlife conservation efforts,
and community-based tourism initiatives are becoming more prevalent.
India's
rich cultural and heritage assets continue to be a major draw for tourists. The
Golden Triangle circuit, which includes Delhi, Agra, and Jaipur, is a popular
route for exploring historical and architectural marvels like the Taj Mahal and
Amer Fort. These sites offer insights into India's fascinating history and
artistic achievements.
The
diverse landscapes of India, from the Himalayas to the Western Ghats, provide
ample opportunities for adventure tourism. Treks, mountaineering, white-water
rafting, and wildlife safaris attract adventure enthusiasts looking for
adrenaline-pumping experiences.
India
has emerged as a prominent destination for medical tourism. The country's
world-class healthcare facilities offer cost-effective medical treatments and
procedures, attracting patients from around the world. This segment continues
to grow as India's healthcare infrastructure improves.
The
industry is susceptible to global events, such as health crises, geopolitical
tensions, and economic downturns, which can disrupt travel patterns and reduce
tourist arrivals. Additionally, the need for continued infrastructure
development, including transportation, accommodations, and sanitation
facilities, is crucial for the industry's growth. Furthermore, balancing the growth
of tourism with sustainability and environmental conservation is a complex
challenge. Overcrowding and environmental degradation in popular destinations
must be managed responsibly.
The
ongoing need for health and safety protocols, such as sanitation, social
distancing, and vaccination requirements, poses operational and logistical
challenges for businesses.
Additionally,
the industry requires skilled professionals in various roles, from hospitality
and tour guiding to digital marketing and sustainable tourism management.
Addressing the skills gap is essential. Furthermore, effective marketing
strategies and promotion campaigns are needed to attract tourists, both
domestic and international. Coordinated efforts by the government and private
sector are vital.
The
India Travel & Tourism market is segmented by type, sales channel, and
region.
By
type, the market is categorized into domestic, inbound, and outbound segments.
Among these, the domestic segment holds a significant share in the India travel
& tourism market. India is a vast and diverse country, offering a wide
range of destinations, landscapes, and cultural experiences. From the
snow-covered peaks of the Himalayas to the pristine beaches of Goa and the
historical marvels of Rajasthan, India's domestic travelers have an abundance
of choices.
Regarding
the region, the market is divided into East, West, North, and South regions.
Among these, the North region commands a significant share of the India travel
& tourism market. The North region is a treasure trove of historical and
cultural heritage. It is home to iconic cities like Delhi, Agra, Jaipur, and
Varanasi, each of which boasts a rich history and an array of UNESCO World
Heritage Sites. The Taj Mahal in Agra, the forts and palaces of Rajasthan, and
the ancient temples of Varanasi are just a few examples that draw history
enthusiasts and culture seekers from around the world.
Prominent
companies operating in the India Travel & Tourism market include:
- Makemytrip
Pvt. Ltd.,
- Thomas
Cook Ltd.,
- Country
Holidays Inn & Suites Pvt Ltd,
- Yatra
Online Limited,
- Riya
Travel And Tours (India) Private Limited,
- Cox
& Kings Limited,
- Cleartrip
Private Limited,
- Ibibo
Group Private Limited,
- Le
Travenues Technology Pvt. Ltd.
- (Ixigo),
- Sotc
Travel Services Private Limited.
Download
Free Sample Report@
https://www.techsciresearch.com/sample-report.aspx?cid=17443
Customers
can also request for 10% free customization on this report.
Mr.
Karan Chechi, Research Director at TechSci Research, a research-based
management consulting firm, noted, "The India Travel & Tourism market
is a multifaceted and dynamic sector that plays a vital role in the country's
economy and cultural identity. While it has faced significant challenges,
including the impact of the COVID-19 pandemic, the industry continues to
display resilience and adaptability. As travelers seek diverse experiences,
including cultural, adventure, and sustainable tourism, the India Travel &
Tourism market remains poised for growth and transformation in the years to
come."
The
report titled "India Travel & Tourism Market By Type (Domestic,
Inbound and Outbound), By Service Offering (Ticket Reservation, Hotel Booking,
Holiday/Tour Packages, Others), By Purpose of Visit (Business, Leisure &
Recreation, Education, Medical, Social Activity and Others), By Booking Type
(Travel Companies, Travel Agencies, Online, and Others), By Region, By Competition
Forecast & Opportunities, 2019-2029F" has evaluated the future growth
potential of the India travel & tourism market and offers statistics and
information on market size, structure, and future market growth. The report
aims to provide cutting-edge market intelligence and aid.
Related
Reports:
India
Non-Alcoholic Beverages Market
India
Electric Rice Cooker Market
Contact
Mr. Ken
Mathews
708 Third
Avenue,
Manhattan, NY,
New York 10017
Tel:
+1-646-360-1656
Email: sales@techsciresearch.com
Website: www.techsciresearch.com
Comments
Post a Comment