By 2024, outbound trips from India are expected to exceed $42 billion

Tuesday, August 9, 2022

By 2024, outbound trips from India are expected to exceed $42 billion. The government might initiate certain changes in policy for promoting this emergent market.

The report known as, ‘Outbound Travel and Tourism – An Opportunity Untapped’ by Nangia Andersen LLP in partnership with FICCI, shows the growing Indian travel market, outlining an agenda for creating a better value for money understanding for Indian tourists and travelers.

To enable better business and to encourage the interests of Indian companies who deal with outbound travel, the government is considering measures such as increasing direct networks with popular and forthcoming destinations, permitting foreign cruises to run on Indian waters, and also making intensive and synchronized efforts for propelling the outbound tourism market.

Suraj Nangia, Nangia Andersen LLP Head – Government and Public Sector Advisory said that Indian outbound tourism has all the chances to exceed $42 billion by 2024.

He said that India is shortly going to be the most populous country globally with the swiftest growing economy. The Indian outbound travel segment is among the speediest rising markets internationally with around 80 million passport level of buying power, specifically among the middle class.”

Letting foreign cruises to comprise Indian destinations as a halt would inspire inbound and outbound tourism equally and also escalate income for the Indian ports.

With a mounting economy, young population, and increasing middle class, India has all the possibilities to become one of the most productive outbound tourism markets globally.

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