NDIA'S travel and tourism industry is projected to generate nearly $24 billion in revenue in 2024, according to the India Brand Equity Foundation. With an impressive estimated annual growth rate of 9.6 per cent from 2024 to 2028, the industry is expected to reach a market volume of $34.25 billion by 2028. This growth projection underscores the sector's resilience and potential, driven by factors such as increasing domestic travel, the revival of international tourism, and enhanced infrastructure. The revenue trend indicates a significant shift, with package holidays expected to become the primary revenue generator in 2024, potentially reaching 65 million travellers by 2028.
India is poised for a significant boost in travel this summer, driven by rising disposable incomes and a strong desire for vacations post-pandemic. Industry experts predict a 30 per cent increase in domestic travel compared to last year, with popular destinations such as Goa, Kerala, and Himachal Pradesh witnessing a surge in bookings. Additionally, international travel is expected to see a 20 per cent rise, particularly to Southeast Asian and European countries. This uptick is set to propel the travel and hospitality sectors towards record growth, solidifying their recovery trajectory.
Emerging Trends
India's diverse landscapes and rich cultural heritage make it an ideal destination for various types of tourism. Adventure tourism is gaining traction, with destinations like Rishikesh for river rafting, Himachal Pradesh for trekking, and Goa for water sports becoming increasingly popular.
هذه القصة مأخوذة من طبعة September 07, 2024 من BW Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 07, 2024 من BW Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders
