admin Indian travellers are taking to the skies in unprecedented numbers, exploring new horizons and contributing to a significant uptick in international tourism. According to a recent report by the Mastercard Economics Institute (MEI), Indian international travel has seen a marked increase, with significant growth in visits to countries like Japan, Vietnam, and the United States.
Record-breaking Travel Numbers
In the first quarter of 2024, Indian airports saw a staggering 97 million passengers, a number that would have represented an entire year’s worth of travellers just a decade ago. This surge is attributed to an expanding middle class and increased airline route capacities. Domestic air traffic rose by 21% compared to 2019, while international travel experienced a 4% increase.
The report highlights a 53% rise in Indian visits to Japan, a remarkable 248% growth in travel to Vietnam, and a 59% increase in trips to the United States, despite the stronger US dollar. This trend underscores a significant shift in Indian travel patterns, with a growing appetite for diverse global destinations.
Global Travel Trends: Experiences Over Goods
The MEI’s fifth annual “Travel Trends 2024: Breaking Boundaries” report, covering 74 markets including 13 in the Asia Pacific region, indicates robust growth in the global travel sector. It reveals that consumers are prioritising experiences over material purchases, with spending on nightlife and fine dining hitting new highs. Nightlife alone accounts for 12% of tourism sales, the highest in over five years.
In India, the burgeoning fine dining scene has seen a 55.2% increase in spending, while casual dining expenditures rose by 49.2% year-on-year as of March 2024. This trend reflects a broader global movement towards valuing memorable experiences over physical goods.
David Mann, Chief Economist for Asia Pacific at Mastercard, emphasised the importance of value in travel decisions, particularly in the context of fluctuating foreign exchange rates. He suggested that businesses targeting tourism need to adapt their strategies to cater to the value-conscious traveller, ensuring they continue to attract this growing demographic.
As Indian travellers increasingly seek out unique and enriching experiences abroad, destinations worldwide are set to benefit from this evolving trend, driving further growth in the international travel sector.
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