indian travel stocks

List of Best Travel & Tourism Stocks to buy in India

Travel and tourism stocks encompass shares of companies operating within sectors like airlines, hotels, online travel agencies, and cruise lines. These stocks are crucial economic indicators because increased travel activity generally correlates with higher disposable income and consumer confidence. In India, the travel industry is undergoing significant transformation, spurred by evolving consumer preferences and technological advancements, which are reshaping travel habits. The sector is recovering from global events like the COVID-19 pandemic, offering investment opportunities in companies that demonstrate resilience and potential for growth. As tourism contributes increasingly to India’s GDP and job market, investing in travel stocks could be a strategic move for those looking to benefit from the sector’s resurgence and future expansion.

Ideal Investors for Top Travel and Tourism Stocks

Investing in the best travel and tourism stocks is particularly suitable for individuals who have a long-term investment horizon and a high tolerance for risk, given the sector’s susceptibility to economic fluctuations and global events. Ideal candidates for this type of investment are those who are keenly interested in the dynamics of the tourism industry and are prepared to stay informed about factors like global travel restrictions, consumer travel preferences, and overall economic health. Additionally, investors should be resilient and adaptable, ready to navigate the challenges that might arise from sudden changes in market conditions or external shocks such as pandemics. It’s also crucial for potential investors in this sector to conduct thorough research or consult with financial professionals to make informed decisions and mitigate inherent risks.

Benefits of Investing in the Best Travel & Tourism Stocks

Investing in top tourism stocks offers several distinct benefits:

• Access to a Booming Market: The global travel industry is projected to grow to $11.4 trillion by 2025, driven by increasing disposable income, urbanization, and evolving consumer preferences. Investing in tourism stocks provides an opportunity to tap into this lucrative market.  
• Potential for High Returns: Tourism stocks often yield high returns during periods of industry growth and recovery from economic downturns. Companies like MakeMyTrip and IRCTC have demonstrated significant growth recently, highlighting the potential for substantial financial gains.  
• Diversification Benefits: Adding tourism stocks to your portfolio can enhance diversification, reducing overall investment risk and potentially improving returns. These stocks span various segments and regions of the travel industry, from domestic to international markets and from leisure to business travel, including both online and offline ventures.

These advantages make tourism stocks an attractive option for investors looking to diversify their portfolios while capitalising on the growth and resilience of the global travel market

Overview of Best Travel & Tourism Stocks

Thomas cook.

Thomas Cook India is a leading travel services company that excels in offering a wide array of services including foreign exchange, insurance, visa assistance, and both corporate and leisure travel. With over 270 locations worldwide, it annually caters to around 4 million customers, showcasing its global reach and operational scale. Over the past year, the company’s stock price has surged by 50%, driven by its strategic initiatives in digital expansion, diversification into domestic travel and staycations, and a robust portfolio that continues to attract a diverse clientele.

IRCTC, the exclusive online ticketing, catering, and tourism service provider for Indian Railways, stands as a critical component of India’s transportation infrastructure. Holding a monopoly in core service areas, IRCTC benefits from high profit margins and minimal competition, contributing to a substantial 300% stock price increase since its IPO in 2019. As a state-owned enterprise, it enjoys stability and growth potential, further boosted by governmental efforts to improve rail travel and tourism in the country.

MakeMyTrip, India’s premier online travel agency, provides a comprehensive range of services including flight bookings, hotel reservations, holiday packages, and bus tickets. Serving over 40 million customers, it operates not only in India but also extends its reach to Southeast Asia, Europe, and North America. The company’s stock price has experienced an impressive 80% surge over the past year, driven by the overall growth in online travel services and the recovery of the travel industry post-pandemic.

Indian Hotels Company Limited (IHCL)

Indian Hotels Company Limited (IHCL), the largest hotel chain in India, manages prestigious brands such as Taj and Vivanta, with over 200 hotels across 12 countries and more than 25,000 rooms. Affiliated with the Tata Group, IHCL is renowned for its high-quality service and diverse portfolio of hotels, resorts, and palaces. The company has witnessed a 60% increase in stock price over the past year, buoyed by improved operational efficiencies, reduced debt, and diversified revenue streams, positioning it well for growth as global travel rebounds.

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Best Travel And Tourism Stocks in India

If you’re a new stock investor ( or a day-trader) , or even if you’re someone with experience, this piece is for you.

In this piece, I’ve shared the best stocks in the Indian subcontinent as far as the “travel and tourism” industry goes.

Let’s not waste time and get started eh?

How to select the best travel and tourism stocks in India?

1. makemytrip (mmyt), 2. indian hotels corporation (ihcl), 3. interglobe aviation ltd. (indigo), 4. lemon tree (lemontree), 5. thomas cook (thomascook), 6. indian railway catering and tourism corporation (irctc), frequently asked questions, financial and legal disclaimer.

Well, before picking a stock, market research is of course super important. Here’s what I look for when I choose my stocks:

• Revenue Growth: This is basically how much money the firm has made in the past vs. how much they are making now. Obviously, you also need to look at profit margins, their debt:equity ratio ( their worth vs. debt) , and their cash flow ( investors/sitting cash etc).
• Find out how much of the market they own as well in whatever industry they operate in. In this specific case, we already know these are stocks from the travel and tourism industries in India. You simply need to look at the market-share.
• The people behind the company/firm are pretty important. Check their creditability, past performance, market-view and so on.
• Then there’s valuation. What’s the stock price compared to the money the company is making. Always compare this to other similar stocks to get a better idea.
• Always look for third-party forces, such as the economy in India(GDP growth), Inflation rates, and specially the governments’ actions for the industry/specific company. E.g. “Adani” is a stock that gained massive traction because controversial links with the sitting Indian government. Similarly, Bike taxies getting banned in Delhi and other Indian states will definitely impact the share prices for Uber and Rapido ( if it was a publicly listed company).
• Your goal: You obviously need to select stocks based on your investment style. Are you in for the long game or just need to make a few quick bucks? Are you aiming for a regular dividend income or just wish to make profits off the stock price?

There are a few other factors but I’m sure you’ve got an idea, haven’t you?

Well, fortunately, you do not have to actually go through all of that research.

I’ve already done that for you and compiled this list of the best travel and tourism stocks in India. Let’s get started?

Best Travel and Tourism stocks in India

Here are some Indian travel and tourism stocks to start with:

The company has already reported a 63% quarterly increase in bookings for 2023. That’s massive, isn’t it?

It operates in almost all the travel tourism segments including flights, trains, hotels, bus booking and even curated travel packages!

I’m sure you’ve heard of the Taj hotels, haven’t you? Indian Hotels Corporation (IHCL) is the parent company of the Taj Group of Hotels.

It runs some of the best hotels and resorts not just throughout India  but also overseas. IHCL is the undisputed monarch of the Indian hotel sector, and it intends to remain so.

InterGlobe Aviation is the parent firm of IndiGo, one of India’s hippest low-cost carriers. IndiGo is India’s Ryanair, but much better.

They have a sizable market share when it comes to transporting people in India, and they’re poised to go off as the country’s air travel expands.

LEMONTREE: Lemon Tree Hotels is the Indian hotel industry’s Goldilocks – not too posh, not too inexpensive – just perfect!

They have hotels in 36 locations across India, and they’re all ready to gain from the growing middle-class hospitality sector in India. Lemon Tree Hotels is the place to be if you want to party without breaking the bank.

Do you remember that spectacular trip you had and had the time of your life? Thomas Cook India is the firm that made it possible.

They provide a wide range of travel services, from vacation packages, cruise, hotels, flights and even VISA services!  They are, to a large degree, India’s travel gurus.

IRCTC is managed by the Ministry of Railways, govt. of India. In the year 2022, it netted a 22% increase in profit from its previous year.  Similarly, it had a 70% surge in profits as compared to Q2 which is another pretty good buy-signal, isn’t it?

It doesn’t have almost any debt, and it has a monopoly on the Indian railway market.

If you’re on this page, you’re clearly interested in stocks and you’re probably new. Even if you’ve got tons of experience, you may have a few questions about these stocks. Let me try and answer a few of them?

• What are the best exchanges to trade travel and tourism stocks in India?

Zerodha is often termed the Indian stock market’s Robin Hood, isn’t it? It’s known for its simple trading interface and low brokerage fees. It’s not made just for the bigshots; anyone with basic trading knowledge can start investing right away.

Upstox, the coolest kid on the block, lets you trade stocks, futures, and options. And their smartphone app is so simple to use that even your granny (if she’s interested) can use it.

5paisa is one of the less-popular ( or maybe I just was living under a rock) but very feature-rich stock exchanges in India. It offers shares, mutual funds, and other financial instruments for trading. All you need is a phone and you’re all set.

Nothing on this article is financial advice. We are not recommending/encouraging you to invest in these stocks purely based on our opinion or research.

Always do your own research before investing in stocks. It’s an extremely volatile market and may result in heavy losses for you. We will not be responsible for any of your losses.

Final words- Best Travel and Tourism stocks in India

So, these were the best travel and tourism stocks in India, in my opinion, for 2024 folks. These are best simply because given their market dominance, they’re evergreen.

Meaning, even if the market trend changes or negative policies/events occur, they’re probably your best bets.

Do note that stocks are heavily influenced by “current” events in the country. Hence, depending on when you’re reading this, you must do your own research and see if these stocks are or aren’t worth your time ( and money).

That’s about it folks. Share the list with your other friends who may be trying to get into travel and tourism stocks in India, they’ll thank you.

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Part of the Asia Pacific Travel Market Report 2022-2026 series, Phocuswright’s India Travel Market Report 2022-2026 provides a comprehensive view of the India travel market, including detailed market sizing and projections, distribution trends, analysis of major travel segments, key developments and more.

With the single purchase of the Asia Pacific Travel Market Report 2022-2026 series , the following reports (available now or publishing soon) are automatically included at no additional cost:

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India Online Travel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

India's Online Travel Market Report is Segmented by Service Type (transportation, Travel Accommodation, Vacation Packages, and Others), by Booking Type (online Travel Agencies, Direct Travel Suppliers), by Platform (desktop, Mobile) and by Tour Type (Independent Traveller, Tour Group, Package Traveller). the Market Size and Forecasts for the India Online Travel Market are Provided in Terms of Value (USD) for all the Above Segments.

• India Online Travel Market Size

Need a report that reflects how COVID-19 has impacted this market and its growth?

India Online Travel Market Analysis

The India Online Travel Market size is estimated at USD 17.24 billion in 2024, and is expected to reach USD 28.40 billion by 2029, growing at a CAGR of 10.5% during the forecast period (2024-2029).

India's online travel industry was hit hard by COVID-19. However, long-term growth fundamentals were intact. The pandemic was a major challenge, but it was also an acquisition opportunity for stronger players as the industry consolidated. Domestic tourism, on the other hand, is expected to pick up faster, with plenty of pent-up demand to support a relatively quick recovery. Indian travel firms have reportedly seen a 25%-30% increase in bookings, both for air travel and accommodations, for the Christmas and New Year holidays.

Mobile apps have become a significant channel for travel bookings. Many of the leading travel companies in India have developed user-friendly mobile apps, allowing travelers to book tickets and accommodations on the go.

The online travel industry in India is highly competitive and features several prominent players, including MakeMyTrip, Yatra, Cleartrip, Goibibo, and Booking.com, among others. These companies offer a variety of services, including flight and hotel bookings, holiday packages, car rentals, and more.

• India Online Travel Market Trends

Growth of the Tourism Industry in India is Driving the Market

The travel and tourism industry in India was the seventh-largest contributor to the country's GDP according to a new report by the World Travel and Tourism Council (WTTC). India's economic growth has been among the highest in the world in the past decade. Positive developments on the economic front should contribute to propelling the country's tourism industry as an increasing number of Indians with rising disposable incomes make a greater number of domestic and international trips.

Players looking to capitalize on growing inbound and outbound international trips from India include MakeMyTrip, which announced its plans to expand into the UAE, and EaseMyTrip, which is expanding its international footprint, particularly in international cities where Indians travel the most. With an expanded international presence, EaseMyTrip expects to provide better service to their customers as well as better rates on local hotels and restaurants that are reluctant to work with companies outside their home countries.

Increasing trend of YOLO and desire for education in international universities will boost the market.

Since March 2020, all of us have faced several losses and challenges. The COVID-19 epidemic left the entire world in a state of lockdown, affecting businesses and households in general. As the world looked forward to a new dawn in 2021, the effects looked slightly different than last time.

According to Ministry of External Affairs (MMEA) data, a significant drop in scholars studying overseas has been observed. Around 2.6 lakh scholars went abroad in 2020, compared to 5.9 lakh scholars in 2019. In 2021 (until February 28, 2021), an estimated 7,699 Indians studied abroad. According to another report, as the number of Indian scholars completing advanced education abroad increases year after year, their overseas spending is expected to increase from USD 28 billion to USD 80 billion by 2024.

India Online Travel Industry Overview

The report covers major international players operating in the Indian online travel market. In terms of market share, a few of the major players currently dominate the market. However, with technological advancement and product innovation, midsize to smaller companies are increasing their market presence by securing new contracts and tapping new markets.

India Online Travel Market Leaders

Booking.com

*Disclaimer: Major Players sorted in no particular order

India Online Travel Market News

• August 2023: Skyscanner launched its Hindi language experience across all its products and services to penetrate deeper into the Indian market. Skyscanner acts as a one-stop solution for travelers looking to compare ticket fares, hotel tariffs, and intra-city commutes by curating data from its partner Online Travel Agent (OTA) sites.
• August 2023: MakeMyTrip long with the Ministry of tourism has launched a unique Travellers' Map of India that showcases 600 plus destinations beyond the popular travel spots in the country.

India's Online Travel Market Report - Table of Contents

1. INTRODUCTION

1.1 Study Assumptions and Market Definition

1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS AND DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Industry Value Chain Analysis

4.5 Porter's Five Forces Analysis

4.5.1 Threat of New Entrants

4.5.2 Bargaining Power of Buyers/Consumers

4.5.3 Bargaining Power of Suppliers

4.5.4 Threat of Substitute Products

4.5.5 Intensity of Competitive Rivalry

4.6 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION

5.1 Service Type

5.1.1 Transportation

5.1.2 Travel Accommodation

5.1.3 Vacation Packages

5.1.4 Other Service Types

5.2 Booking Type

5.2.1 Online Travel Agencies

5.2.2 Direct Travel Suppliers

5.3 Platform

5.3.1 Desktop

5.3.2 Mobile

5.4 By Tour Type

5.4.1 Independent Traveller

5.4.2 Tour Group

5.4.3 Package Traveller

6. COMPETITIVE LANDSCAPE

6.1 Market Concentration Overview

6.2 Company Profiles

6.2.1 Via.com

6.2.2 Booking.com

6.2.3 MakeMyTrip

6.2.4 Yatra

6.2.5 Cleartrip

6.2.6 EaseMyTrip

6.2.7 Expedia

6.2.8 Thomas Cook Ltd.

6.2.9 Cox & Kings Ltd.

6.2.10 Oyo Rooms

6.2.11 ixigo

• *List Not Exhaustive

7. FUTURE OF THE MARKET

8. DISCLAIMER

India Online Travel Industry Segmentation

The online travel market consists of sales of travel services through online channels. Online travel agents or agencies are individuals or companies with websites allowing consumers to book travel-related services via the Internet. A complete background analysis of the market, including the analysis of market size and forecast, market shares, industry trends, growth drivers, and vendors, is provided. Additionally, the report features qualitative and quantitative assessments by analyzing the data gathered from industry analysts and market participants across key points in the industry's value chain.

India's Online Travel Market Report is segmented by service type (transportation, travel accommodation, vacation packages, and others), by booking type (online travel agencies, direct travel suppliers), by platform (desktop, mobile) and By Tour Type (Independent Traveller, Tour Group, Package Traveller). The market size and forecasts for the India Online Travel Market are provided in terms of value (USD) for all the above segments.

India's Online Travel Market Research FAQs

How big is the india online travel market.

The India Online Travel Market size is expected to reach USD 17.24 billion in 2024 and grow at a CAGR of 10.5% to reach USD 28.40 billion by 2029.

What is the current India Online Travel Market size?

In 2024, the India Online Travel Market size is expected to reach USD 17.24 billion.

Who are the key players in India Online Travel Market?

Via.com, Booking.com, MakeMyTrip, Yatra and Expedia are the major companies operating in the India Online Travel Market.

What years does this India Online Travel Market cover, and what was the market size in 2023?

In 2023, the India Online Travel Market size was estimated at USD 15.60 billion. The report covers the India Online Travel Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Online Travel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

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India's Online Travel Industry Report

Statistics for the 2024 India Online Travel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Online Travel analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

India Online Travel Market Report Snapshots

• India Online Travel Market Share
• India Online Travel Companies
• India Online Travel News

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Travel, Tourism & Hospitality

Travel and tourism industry in India - statistics & facts

The most profitable travel segments, agents to help package travel, key insights.

Detailed statistics

Travel & tourism development rank India 2011-2021

Leading global travel markets by travel and tourism contribution to GDP 2019-2022

Contribution of travel and tourism to GDP of India 2019-2022

Editor’s Picks Current statistics on this topic

Value of travel market in India FY 2018-2027

Travel market distribution in India FY 2018-2027, by type

Further recommended statistics

Key figures.

• Basic Statistic Direct contribution of tourism and hospitality to GDP in India 2012-2028
• Basic Statistic Revenue share from tourism in India 2013-2022, by segment
• Premium Statistic Distribution of direct travel and tourism GDP in India FY 2023, by spending type
• Basic Statistic Number of jobs in travel and tourism sector in India FY 2014-2022
• Premium Statistic PE/VC investment deals in travel and hospitality 2013-2022

Direct contribution of tourism and hospitality to GDP in India 2012-2028

Direct contribution of tourism and hospitality to GDP in India from 2012 to 2017, with an estimate until 2028 (in billion U.S. dollars)

Revenue share from tourism in India 2013-2022, by segment

Distribution of revenue from tourism to GDP in India from 2013 to 2022, by segment

Distribution of direct travel and tourism GDP in India FY 2023, by spending type

Distribution of direct travel and tourism GDP in India in the financial year 2023, by spending type

Number of jobs in travel and tourism sector in India FY 2014-2022

Number of direct and indirect jobs in the travel and tourism sector across India from financial year 2014 to 2022, with projection for 2023 (in millions)

PE/VC investment deals in travel and hospitality 2013-2022

Number of private equity and venture capital deals in the travel and hospitality sector in India from 2013 to 2022

• Premium Statistic Tourist arrivals at India 2022, by region
• Basic Statistic Number of domestic tourist visits in India 2000-2022
• Premium Statistic Number of foreign tourist arrivals in India 2008-2022
• Premium Statistic Number of visitors to national monument India FY 2017-2022, by type
• Premium Statistic Number of domestic visitors to ticketed monuments India FY 2023
• Premium Statistic Number of foreign visitors to ticketed monuments India FY 2023

Tourist arrivals at India 2022, by region

Tourist arrivals at India in 2022, by region (in 1,000s)

Number of domestic tourist visits in India 2000-2022

Number of domestic tourist visits in India from 2000 to 2022 (in millions)

Number of foreign tourist arrivals in India 2008-2022

Number of foreign tourist arrivals in India from 2008 to 2022

Number of visitors to national monument India FY 2017-2022, by type

Number of visitors to national monuments across India from financial year 2017 to 2022, by type (in millions)

Number of domestic visitors to ticketed monuments India FY 2023

Leading ticketed monuments in India in financial year 2023, by number of domestic visitors (in 1,000s)

Number of foreign visitors to ticketed monuments India FY 2023

Leading ticketed monuments in India in financial year 2023, by number of foreign visitors (in 1,000s)

Travel services

• Premium Statistic Online travel agency usage India 2023, by gender
• Premium Statistic Agencies used for online services India 2023 by gender
• Premium Statistic Device used for online travel agency India 2023, by age group
• Premium Statistic Purpose of online travel agency usage India 2023, by age group
• Premium Statistic Reason for not using online travel agency India 2023, by gender

Online travel agency usage India 2023, by gender

Share of online travel agency usage in India as of June 2023, by gender

Agencies used for online services India 2023 by gender

Share of agencies used for online travel services in India as of June 2023, by gender

Device used for online travel agency India 2023, by age group

Device used to access online travel agencies in India as of June 2023, by age group

Purpose of online travel agency usage India 2023, by age group

Purposes of using an online travel agency in India as of June 2023, by age group

Reason for not using online travel agency India 2023, by gender

Share of reasons for not using online travel agencies in India as of June 2023, by gender

Market overview

• Premium Statistic Value of travel market in India FY 2018-2027
• Premium Statistic Travel market distribution in India FY 2018-2027, by type
• Premium Statistic Travel market distribution in India FY 2018-2027, by booking channel
• Premium Statistic Value of hotel market in India FY 2018-2027
• Premium Statistic PE/VC investments in travel and hospitality 2013-2022

Value of the travel market in India from financial year 2018 to 2020, with an estimate for 2027 (in billion U.S. dollars)

Distribution of Indian travel market from financial year 2018 to 2020, with an estimate for 2027, by type

Travel market distribution in India FY 2018-2027, by booking channel

Travel market distribution across India from financial year 2018 to 2020, with an estimate for 2027, by booking channel

Value of hotel market in India FY 2018-2027

Value of hotel market in India from financial year 2018 to 2020, with an estimate for 2027 (in billion U.S. dollars)

PE/VC investments in travel and hospitality 2013-2022

Private equity and venture capital investments in travel and hospitality sector in India from 2013 to 2022 (in million U.S. dollars)

Hotel industry

• Premium Statistic Distribution of hotel market in India FY 2018-2027, by type
• Premium Statistic Distribution of the hotel market in India FY 2018-2027, by booking channel
• Premium Statistic Number of hotel rooms in India FY 2001-2023
• Premium Statistic Number of approved hotels in India 2022, by category
• Premium Statistic Supply of hotel rooms in India FY 2022-2023, by city
• Basic Statistic Occupancy rate in hotels in India FY 2001-2024

Distribution of hotel market in India FY 2018-2027, by type

Distribution of the hotel market across India from financial year 2018 to 2020, with an estimate for 2027, by type

Distribution of the hotel market in India FY 2018-2027, by booking channel

Distribution of the hotel market across India from financial year 2018 to 2020, with an estimate for 2027, by booking channel

Number of hotel rooms in India FY 2001-2023

Number of hotel rooms across India from financial year 2001 to 2023, with an estimate until 2027 (in 1,000s)

Number of approved hotels in India 2022, by category

Number of approved hotels in India in 2022, by category

Supply of hotel rooms in India FY 2022-2023, by city

Existing supply of hotel rooms across Indian cities from financial year 2022 to 2023 (in 1,000s)

Occupancy rate in hotels in India FY 2001-2024

Occupancy rate in hotels in India from financial year 2001 to 2023, with estimates of 2024

Major players

• Basic Statistic Leading hotel and restaurant companies in India 2023, by market capitalization
• Basic Statistic Domestic market share of airlines across India FY 2023, by passengers carried
• Premium Statistic Revenue of Airbnb India FY 2018-2020
• Premium Statistic Revenue of OYO across India FY 2019-2023
• Premium Statistic Thomas Cook India revenue FY 2020-2023
• Premium Statistic MakeMyTrip's revenue FY 2015-2023

Leading hotel and restaurant companies in India 2023, by market capitalization

Leading hotel and restaurant companies in India as of 2023, based on market capitalization (in billion Indian rupees)

Domestic market share of airlines across India FY 2023, by passengers carried

Domestic market share of airlines across India in financial year 2023, by passengers carried

Revenue of Airbnb India FY 2018-2020

Revenue of Airbnb India from financial year 2018 to 2020 (in million Indian rupees)

Revenue of OYO across India FY 2019-2023

Revenue of OYO across India from financial year 2019 to 2023 (in billion Indian rupees)

Thomas Cook India revenue FY 2020-2023

Revenue of Thomas Cook (India) Limited from financial year 2020 to 2023 (in billion Indian rupees)

MakeMyTrip's revenue FY 2015-2023

Revenue of MakeMyTrip Limited from financial year 2015 to 2023 (in million U.S. dollars)

Further reports

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• Economic Outlook India
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• International tourism in India

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From India to the world: Unleashing the potential of India’s tourists

Boosted by rising economic prosperity  and a fast-growing economy, India is set to be an important global source market for leisure travel. India is now the fifth-largest economy, and its population has surpassed China’s to become the largest in the world, at over 1.4 billion people. 1 World Bank national accounts data, GDP (current US$) India, accessed September 2023; World population prospects 2022 , United Nations Department of Economic and Social Affairs, Population Division, 2022. And the population is young—the median age is 27.6, more than ten years younger than that of most major economies. 2 World population prospects 2022 . What's more, consumption of goods and services, including leisure and recreation, is forecast to double by 2030. 3 “India’s impending economic boom,” Morgan Stanley, November 8, 2022. Adding a strong postpandemic travel recovery, and a growing appetite for international travel, these factors point to India’s significant potential for outbound tourism.

India is now the fifth-largest economy, and its population has surpassed China’s to become the largest in the world, at over 1.4 billion people.

Through nine charts, this article unpacks trends and opportunities in the Indian travel market. Selected country examples shed light on how destinations can enhance their value propositions to attract and delight Indian travelers.

Indian globetrotters set to soar

Racing ahead: indian wanderlust is taking off, top picks: united arab emirates reigns, new gems discovered, regional flavors; global explorers.

Indian travelers are not a homogenous group; destination preferences vary across regions. For example, travelers from North India constitute a large share of travel to the United States and Canada, while two-thirds of travelers from Kerala prefer destinations in the Middle East. 1 India tourism statistics 2020 , Ministry of Tourism, Government of India, January 2021; MarketIS. Purpose of travel, distribution of the diaspora, and cultural linkages play a role in destination choice.

Destination matchmaking: Five ways to build value

Destinations looking to harness the full potential of the growing Indian market could consider tailoring their value propositions in alignment with one or more of the five key decision points that influence where travelers choose to go. Destinations might ask the following questions to determine which factors align with what Indian travelers look for when planning a trip.

• Research. How attractive and popular is the destination with Indian tourists?
• Accessibility. Is it easy to obtain a travel visa?
• Connectivity. Are there convenient flights that connect India to the destination?
• Booking. Is the destination affordable for Indian travelers, and is there an adequate supply of hotels in the appropriate price range?
• Travel experience. What is the on-the-ground experience like for Indian tourists in terms of weather, attractions, and whether or not the local population is English speaking?

There’s something for everyone in Thailand

Azerbaijan’s visa policy wows indian travelers, vietnam takes off: direct flights skyrocket arrivals.

In 2019, Kolkata was the only city in India with direct connectivity to Vietnam, and three other Indian cities offered sporadic flights. To stand out from Southeast Asia neighbors and gain popularity with Indian travelers, Vietnam improved direct connectivity from India by increasing flight frequency and adding new routes. Indian arrivals are now at an all-time high. 1 Data from Google trends and Diio Mi.

The luxury of Dubai is within reach

In 2022, India was the largest source market for leisure travelers to Dubai. 1 “1.24 million Indian tourists visit Dubai in first 9 months of 2022,” Business Standard , December 10, 2022. The city is known for its luxury offerings and, perhaps surprisingly, also offers a wide range of accommodations, such as 3-star options. And flights from India are affordable when compared with flights of similar distances. Taken together, these factors make the luxury of Dubai accessible to Indian travelers. 2 MarketIS.

Bollywood magic in Switzerland

While only 9 percent of Indian travelers focus on long-haul destinations in Western Europe, Switzerland has been an Indian top-20 destination for over a decade. Switzerland may be popular, as it feels familiar to Indian travelers: many Bollywood hits feature Swiss attractions, there are plenty of Indian restaurants and cultural festivals, and English is widely spoken. 1 “Switzerland and romantic songs of Indian movies,” Solo Backpacker, September 20, 2019; India-Switzerland relations , Ministry of External Affairs, Government of India, February, 2020; Festival of India in Switzerland and Liechtenstein – Events , Ministry of Culture, Government of India, 2018; Swiss hospitality for Indian guests , a joint report from HotellerieSuisse, Berne and Switzerland Tourism, November, 2019.

Namaste, India!

India is a high-potential, growing source market for leisure travel. Destinations looking to attract Indian leisure travelers could consider targeted marketing, an expanded range of affordable options, and customized on-the-ground hospitality that caters to Indian preferences. Destinations may need to take steps now to build a strong value proposition and distinguish themselves as a preferred location. To do so, they could take action in the following areas:

Destinations looking to attract Indian leisure travelers could consider targeted marketing, an expanded range of affordable options, and customized on-the-ground hospitality.

• Connect. Make travel seamless, for instance, by simplifying visa application processes and providing direct connectivity.
• Entice. Offer affordable packages with a range of choices that appeal to specific groups, such as families, couples, or solo travelers.
• Welcome. Make the experience traveler-friendly, for example, by providing appropriate food and beverage options like vegetarian and Indian cuisine.
• Attract . Design targeted campaigns to showcase experiences that Indian travelers want, and use appropriate channels to get the word out, for example leveraging over-the-air partnerships and social media.
• Unlock. Include the MICE (meetings, incentives, conferences, and exhibitions) and business tourism segments in marketing efforts to boost interest in leisure travel.

Divya Aggarwal is an associate partner in McKinsey’s Gurugram office, Margaux Constantin is a partner in the Dubai office, and Kanika Kalra is a partner in the Mumbai office, where Neelesh Mundra is a senior partner.

The authors wish to thank Ashu Airan, Steffen Köpke, Richa Kothari, Karthik Krishnan, Kargil Mishra, and Jean Petersen for their contributions to this article.

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ATM 2024: India’s travel market is a $72b opportunity in the making

Travel & tourism.

As demand surges, Indians prefer destinations about 5 hours away

Dubai: How do you tap the tourism potential of Indian travelers?

The fifth largest economy in the world, India is home to 1.44 billion people - and 27.3 million people travelled out of the country in 2023. That number is expected to reach 30 million this year, which is why there’s so much interest in Indian tourists. And became a talking point at the Arabian Travel Market on Monday.

At the session – ‘Unlocking the true potential of Indian travelers – the moderator Virendra Jain, co-founder and CEO of Videc, set the ball rolling, saying that the Indian travel market is a $49 billion opportunity that is estimated to grow to $72 billion by FY-2026, driven mainly by a young and digitally-savvy population.

Jain said: “India right now has 93 million active passports. 14 million of them were issued in 2023, seven times the number of passports India issued in 2000, which is symbolic of the upward trajectory of travellers coming from India.”

Jain was joined by Ross Veitch, CEO and co-founder of Wego, Raj Rishi Singh, CMO and CBO-Coporate of MakeMyTrip, and Ankur Garg, Chief Commercial Officer of Air India Express.

At the end of 50 minutes, they were sure that the profile of Indian travellers had changed, with leisure and tourism forming a critical avenue for spending.

Within 5 hours

One uniform observation was the preference of Indians for destinations that require only five hours of flying time. That makes the UAE a destination of choice, and Dubai is seen more like a domestic destination.

How do you attract the Indian tourist? Five ways, maybe.

Cheap and easy visas, affordability, direct flights and payment systems are among the factors travellers take into account before deciding on a destination.

Ease the visa regime

Veitch insisted that the visa regime is a critical factor in attracting Indian travellers. A Schengen visa will take 30 days, if you are lucky, and a US visa appointment would take up to 365 days, he said.

“The best thing you could do if you want to stimulate this market is to rationalise your visa policies,” Veitch added.

Garg concurred, saying visa policies do matter. “The visa cost starts having a lot of product impact. We have seen countries with visas on arrival and countries where the visa cost is low. When the international destination is cheaper or at par with the domestic destinations, the decision will depend on the ease of getting the visa and the cost of visa,” the Air India Express official said.

What spurs Indians to travel abroad? Veitch says income is one of the main drivers.

“More than 50 million households in India are on more than $10,000 a month today. That number is growing at a rapid pace, and in another four years, it will add another 30 million households.

“So, with overall incomes going up, the number of people who can afford to travel outside is also going up.”

Garg said Indian travellers no longer come from only the metros but also from smaller cities around the country. “From Amritsar Jaipur, Lucknow, Varanasi, Indore and Goa, we have seen that kind of traffic in the last two to three years. I feel that a lot of growth is going to come from having non-stop connectivity from the next set of towns and cities in India to international destinations,” the chief commercial officer of Air India Express said.

Changes to travel patterns

Even the pattern of travel has changed. Rishi Singh pointed out that Indians now readily opt for weekend travel.

“Earlier, the Indian scenario was one long and one short vacation. This changed to multiple short vacations, and at times people skip long vacations. And so I think it’s affordability and how fast you can reach that place [decides the destination],” the MakeMyTrip official said.

Rishi Singh said one of their surveys showed that 85 per cent of the respondents were first-time outbound travellers, which translates into 27 million outbound passengers.

Earlier, the Indian scenario was one long and one short vacation. This changed to multiple short vacations... - Raj Rishi Singh of MakeMyTrip

“When you are travelling internationally, there is this external anxiety, especially if you’re a first-time traveller. So it’s important to have someone to support you during the journey. So we’ve been trying to build journeys, both through digital and otherwise, where we deal away with this insanity,” the MakeMyTrip official said.

Jain noted that the payment system is one area that requires more attention. “Founded in 2016, UPI in 2022 accounted for six times the value of transactions compared to debit and credit cards combined [in India]. It’s way ahead in growth right now; there are seven countries that accept UPI as a payment mechanism,” he said.

“Travel is a lifestyle revenue that grows as the economy grows. So, there’s a correlation between outbound departure and GDP per capita. There is a very clear trend over 30 years as the per capita income has grown, and so have the outbound departure numbers,” Jain added.

“The Indian government is doing the right things, from a macroeconomic point of view, to sustain the sort of growth needed to drive this sort of outbound numbers,” Veitch said.

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‘Indian carriers to have 50% market share in international passenger carriage by FY 2028:’ CRISIL

N EW DELHI: Thanks to massive aircraft orders by Tata Group’s Air India, IndiGo (which has now opted of wide bodies too) and Akasa, Indian carriers’ could account for 50% of the international passenger carriage market share by FY 2028, according to CRISIL. Foreign carriers have always had the lion’s share of this market primarily due to weak balance sheets of Indian airlines with the sole exception of cash-rich IndiGo. But with Modi government divesting AI and the Maharaja returning to founder Tata Group along with IndiGo now deciding to spread its wings in the international arena, things could soon change.

“The share of Indian airlines in international passenger traffic originating from, terminating in, or transitioning through India is seen surging 700 basis points (bps) to about 50% by fiscal 2028 from 43% in fiscal 2024. The improvement would be driven by Indian airlines deploying additional aircraft and adding new routes in the international segment, as well as their inherent advantage of superior domestic connectivity compared with foreign carriers. The business profiles of Indian carriers will strengthen as a result of their rising share in international traffic, which is more profitable than the domestic segment,” CRISIL said in a statement Monday.

India’s international passenger traffic grew to about 7 crore in fiscal 2024, from a low of 1 crore in FY 2021, and has surpassed the pre-pandemic level. The share of Indian airlines, which was rising steadily earlier, picked up pace since the pandemic.

Manish Gupta, CRISIL Ratings’ senior director & deputy chief ratings officer, said:“A noticeable shift in spending patterns has emerged after the pandemic, as evident in the increasing inclination of Indians towards international leisure travel. Increasing disposable incomes, easing visa requirements, growing number of airports and enhanced air travel connectivity are boosting international travel. The government’s focus on making India a hub for tourism is also expected to provide a fillip to inbound traffic. Thus, international passenger traffic is likely to clock a CAGR of 10-11% over the next four fiscals, against a mere 5% CAGR in the four years prior to the pandemic.”

Indian airlines are looking to capture a large portion of the growth in international passenger traffic as it is typically more profitable due to higher yields and has less intense competition compared with domestic routes. They have added 55 new international routes over the past 15 months, taking their tally beyond 300. These include direct flights originating from additional cities to popular long-haul destinations in the United States, Europe and Australia, effectively reducing flying time and eliminating layovers.

Indian airlines are also aiming to deploy additional aircraft on the short- and medium-haul international routes and leveraging codeshare agreements with major global airlines to offer onward connectivity to passengers.

“As such, Indian airlines have certain natural advantages in cornering a larger share of the country’s international traffic compared with foreign airlines. They have superior domestic connectivity than their overseas counterparts – which serve only select Indian cities – and can offer end-to-end international connectivity on a single ticket to travellers from Tier 2 and Tier 3 cities.

India’s geographic location also lends itself well to air connections between the EMEA6 and Asia Pacific regions, potentially positioning the country as a hub for international travel,” CRISIL said.

Ankit Kedia, CRISIL Ratings director, said: “To capitalise on the growth in international travel, Indian airlines are investing in widebody and long-range narrowbody aircraft for network expansion, adding new international routes and introducing long-haul non-stop flights to key destinations. Aided by the planned fleet addition and network expansion strategy, Indian airlines could log a CAGR of 14-15% in the international segment over the next four fiscals, taking their market share to 50%.”

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Arabian Travel Market 2024 Showcases India’s Summer Campaign

Site Admin | May 6, 2024 8:58 PM

The 31st edition of the Arabian Travel Market kicked off today in Dubai with the theme “Empowering Innovation: Transforming Travel Through Entrepreneurship.” India is putting the spotlight on its lesser-known summer getaways at the Arabian Travel Market 2024, launching the ‘Cool Summers of India’ campaign to challenge perceptions and promote the country as an attractive 365-day destination. This digital campaign, aptly named ‘’Coolcations,” challenges the notion of India being too hot for summer travel, emphasizing its offerings in hill resorts, including the Himalayas. The campaign seeks to promote India as a holistic destination throughout the year. As one of the largest exhibitors at the 31st edition of the region’s premier travel trade show, the Indian contingent is leveraging ATM’s global platform to showcase not just iconic landmarks but refreshing hill stations, mountain retreats, and other summer escapes.

The Incredible India Pavilion has drawn strong visitor interest, with over 100 participants including state tourism boards from Madhya Pradesh, Uttar Pradesh, Goa, Karnataka, as well as luxury hotels and wellness resorts. India’s diverse cultural attractions and tourism offerings are being highlighted through the sizable pavilion, one of the largest at the event. The country’s participation comes as its inbound tourism sector experiences a remarkable revival, with foreign tourist arrivals in 2023 surging 64% compared to 2022 as pandemic impacts waned. India is focused on positioning itself as a 365-day destination in the strategic Middle East market through this ATM showcase. Tourism is a major economic contributor, with the MENA region comprising a key source market.

Satish Kumar Sivan, Consul General of India to Dubai, inaugurated the Incredible India pavilion in the presence of Mr. Gyan Bhushan, Senior Economic Advisor, Ministry of Tourism, Government of India. The pavilion has made a resounding entry, aiming to capture the entirety of the UAE market. India, leading a delegation comprising tour operators, luxury hotels, wellness resorts, and the Indian Railway Catering and Tourism Corporation, is poised to showcase itself as a 365-day destination.

The four-day ATM provides Indian players an opportunity to network, attract visitors from the region, and drive the sector’s growth through showcasing their varied offerings. The 31st edition has drawn over 2,300 exhibitors from 165 countries, with 41,000 attendees expected .The Arabian Travel Market, also known as ATM, is a leading global event for travel and tourism professionals in the Middle East. Held annually in Dubai, it serves as a platform for businesses in the inbound and outbound tourism sectors.

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RBSE Rajasthan Board Class 10th, 12th Results 2024: Board to announce results soon – Here’s how to check

Rbse rajasthan board class 10th, 12th results direct link at rajeduboard.rajasthan.gov.in or rajresults.nic.in.

Rajasthan Board Class 10th, 12th Results: The results of Rajasthan Class 10th and 12th board exam 2024 are probably going to be released this week by the Rajasthan Board of Secondary Education (RBSE). As per the media reports, the results of both classes can be made public by the RBSE by May 15, 2024. On the other hand, the timing and date of the much anticipated board results are not yet officially confirmed.

The RBSE will probably announce the results of both classes at a press conference, as is customary. Among other significant information, the RBSE will disclose at the conference the names of the board toppers and pass percentages. The state education board will activate the result links following the press conference.

Students are advised to keep an eye on the official website in order to check their scorecard. Follow the below mentioned websites:

• rajeduboard.rajasthan.gov.in
• rajresults.nic.in
• rajasthan.indiaresults.com

How to Check RBSE Rajasthan Board Class 10th, 12th Results 

Follow these steps to check Rajasthan Board class 10th and class 12th results:

• Visit the official websites at rajeduboard.rajasthan.gov.in or rajresults.nic.in
• On the homepage, click the links for either class 10 or class 12 Board Results 2024, as per your requirement
• It will redirect you to a new window
• Select your stream, that is science, commerce or arts 
• Enter your login credentials such as roll number and application number, as mentioned in your admit card 
• Click on the submit button to view your scorecard
• Download the result sheet for future reference.

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