Indians' wanderlust to fuel more spending

Indians will spend $410 billion on travel and accommodation by the end of the decade aided by a growing economy, swelling incomes and youthful population, a new study said. This is about three times the amount ($150 billion) spent in 2019, the last pre-covid year of normal consumption.

- Varuni Khosla

Indians are keen on non-traditional accommodation such as hostels, campsites, vacation rentals and chalets, the study by Booking.com with knowledge partner McKinsey & Company said.

The average daily rate and the number of room nights booking in alternative accommodations is nearly twice that of hotels and managed chains, with the highest increase in average daily rates for niche alternative accommodation such as country houses and boats.

But the figure is higher since alternative accommodations at present have a much smaller base.