IITM Kochi now open: Bringing travel businesses together for success

Saturday, January 20, 2024

The much-celebrated India International Travel Mart (IITM) is all set to unveil its inaugural showcase, marking the commencement of the year’s travel festivities in the vibrant city of Kochi, located in South India. From January 19th to 21st, this highly anticipated event promises to be a focal point of activity, drawing travel enthusiasts and garnering active participation from states such as Delhi, Meghalaya, Chhattisgarh, and Jharkhand. Brace yourself for an exhilarating convergence of exploration and industry innovation as IITM Kochi 2024 takes center stage.

Kochi IITM 2024, an unmissable event spotlighting the abundance of trade and tourism in the country, kicked off at the Rajiv Gandhi Indoor Stadium. The festivities commenced on Friday, urging attendees not to miss the opportunity to explore the diverse offerings until the concluding day on Sunday. IITM Kochi brought together industry leaders, seasoned travel agents, and eager wanderers, setting out on new and exciting journeys.

The inauguration ceremony was graced by notable figures, including Ms. Mariyamma Jose, Chairperson of TAAI, Mr. Paulose K Mathre, Chairman of TAFI, Ms. Nirmala Lily, President of SKAL Cochin, Mr. Rajkumar K, CEO of Kerala Travel Mart Society, Mr. Nasir Shah, Chairman of IATO – J&K Chapter, and Mr. Abdul Nasir, President of Tour Operators ASSC of India.

While speaking about the event, Mr. Rohit Hangal, Director of Sphere Travel Media, “As we
launched IITM Kochi 2024, we envisioned it as a nexus for unparalleled exploration and innovation in
the travel industry. This showcase not only promises a vibrant convergence of cultures but also sets
the stage for transformative journeys and business opportunities.”

Sanjay Hakhu, Director of Sphere Travel Media, added “Kochi IITM 2024 is more than an event; it’s a
celebration of India’s rich trade and tourism tapestry. With a dynamic lineup and diverse offerings, it
beckons industry leaders, travel agents, and enthusiasts to embark on a journey of discovery, making
it an unmissable experience for all.”

Tourism Report: A Glance at 2023 and a Look Forward to 2024

• Travel Forecast: According to Statista, the travel and tourism market in India is projected to reach an impressive $23.72 billion by 2024. Moreover, the market is expected to witness a substantial annual growth rate of 9.62% from 2024 to 2028, culminating in a total of $34.25 billion by the end of 2028. These significant figures underscore the country’s potential for substantial growth in the travel and tourism sector.
• Promising Growth in the Sector: The Indian tour and travel industry are poised for significant expansion, with experts predicting a robust growth rate of 12-14% in the current and upcoming fiscal years. This anticipated growth is fueled by consistently high airfares and the steady return of pre-Covid travel volumes across various segments, as outlined in a report by Crisil.
• Sustainable Tourism Trends: In 2024, the tourism industry is expected to undergo a significant shift towards sustainability. With a growing awareness of environmental impact, it is anticipated that reducing carbon footprints, advocating for eco-friendly accommodations, and practicing responsible tourism will become the norm.
• Expectations from Union Budget 2024: India, with its rich cultural offerings, faces challenges in attracting global visitors. The imperative for Union Budget 2024 is to proactively address this issue. Key focuses include enhancing hotel supply, reducing GST rates, and easing travel sector regulations for a boost. Additionally, the budget should champion sustainable tourism through tax incentives, OTA reforms, and CSR investments in tourist site development.

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