Market Insights; India: Source Market Report
FOR IMMEDIATE RELEASE, Illinois – United States – March 05,2015 (PR Buzz):Market Insights; India: Source Market Report is a new market research publication announced by Reportstack. This 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.
- 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 Asia-Pacific 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
- Key destinations include Thailand and UAE, as well as increasing visitors to the US. Although outbound tourism is growing, domestic investment could threaten the dominance of international trips.
Complete report available @ Market Insights; India: Source Market Report.
- The report provides detailed market analysis, information, and insights, including:
- Historic and forecast tourist volumes covering the Indian outbound tourism sector
- Detailed analysis of tourist spending patterns for various categories in the travel and tourism sector, such as purpose of spending and top source markets.
- Detailed analysis of the market trends in Indian outbound tourism sector
Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to the Indian outbound market
- Understand the key market trends and growth opportunities in the Indian outbound tourism sector, along with key trends and grow opportunities
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