In recent years, India’s tourism sector has undergone a remarkable transformation, with domestic travel and weekend getaways taking centre stage. Traditionally, international destinations were the top choice for Indian travellers seeking new experiences, but evolving travel dynamics are reshaping the way Indians explore their own country.
This shift is led by many factors, such as rising disposable income, more affordable air travel, increasing awareness of India’s diverse tourism offerings, and the widespread use of social media and online booking platforms. The result? A burgeoning trend that is breathing new life into India’s tourism industry.
Visa Inc., the global leader in digital payments, in collaboration with Ernst & Young, a leading professional services firm, released a report titled ‘Charting the course for India – Tourism megatrends unpacked,’ which paints a promising picture of India’s tourism future, projecting that the industry could reach a staggering US $1 trillion by 2047. The key driver of this growth is expected to be data-led tourism.
The report identifies sustainability, enabling technologies, and evolving tourist preferences as primary disruptive forces shaping India’s tourism landscape. Sustainable tourism experiences and offerings are in high demand, both in India and worldwide, and this trend is expected to continue.
Presently, the global sustainable tourism market is valued at an impressive US $180 billion. In India, this sector’s value ranges from US $26 million to US $2.5 billion, with a projected annual growth rate of 15%.
Esta historia es de la edición October, 2023 de Beyond Market.
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Esta historia es de la edición October, 2023 de Beyond Market.
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