Market Insights India: Source Market Report MarketreportsonIndia.com presents the latest report on “ Market Insights India: Source Market Report”. The report provides detailed market analysis, information, and insights, including. June 10, 2015 – Navi Mumbai, India: MarketreportsonIndia.com presents the latest report on Market Insights India: Source Market Report”. This report provides a better understanding of the number of tourists departing from India, where they are staying, their spending habits and future developments on the Indian tourist industry.
Summary
Market Insights; Indian Source Market Report provides an overview of the India outbound market, analyzing market data and providing insights. This report provides a better understanding of the number of tourists departing from India, where they are staying, their spending habits and future developments on the Indian tourist industry.
Key Findings
-Indians made over 18 million outbound trips in 2014, an increase on the 16 million trips made in 2013. Barely 2% of India’s population currently travel overseas but over the past five years the country’s middle classes have increased by over 10%. This demographic is set to grow from 32% at present to 50% by 2030, making it a major source market with tourism boards vying to tap into this potential tourist goldmine - India is expected to increase its business travel and tourism following the election of Narendra Modi’s Bharatiya Janata Party (BJP) pro-business government in May 2014. However, outbound tourism will be challenged by the domestic tourism industry, which is expected to experience a surge in business confidence, shown by its average of 9% annually over the historic period
- Indian travelers characteristically have been avid business travelers with 40% of all departures accounted for by business trips. While most of this MICE tourism has been consistently to the AsiaPacific region, TTIC expects that changing trends in India’s economy will spur a rise in leisure and VFR travel to the Middle East and Europe over the forecast period