NEW YORK, Feb. 1, 2016 /PRNewswire/ --
Summary
The expanding economy reflected the increased disposable income of the Indian population, encouraging them to take more trips. The trend is expected to continue over the coming years (2016-2020). Tamil Nadu and Uttar Pradesh maintained their first and second rank respectively in terms of domestic tourist visits in 2014. Inbound tourist volume grew at a CAGR of 6.8% during 2010-2015, and the governments visa friendly policy will spur the growth of inbound tourism.
Key Findings
- The Indian travel and tourism sector is flourishing. Domestic trips grew by 9.7% in 2015, while expenditure increased by 7.6%. The rising middle class and increasing disposable incomes continued to support the growth of domestic and outbound tourism. Outbound trips totaled 19.9 million in 2015, up by 8.7%. Inbound trips grew at a CAGR of 6.8% during the historic period (2010-2015). The US is the largest source market for India and the continued depreciation of the Indian currency against the US$ in recent years has supported the growth of inbound tourism. The Indian Rupee fell against the US$ at a CAGR of -6.5% during 2010-2015 and trips grew by. Trips from Russia, another key source market, slowed from 46% in 2013 to 4.1% in 2014 and -2.5% in 2015 as Russia removed India from its safe travel destinations list as Goa, the top destination for Russians, registered cases of robbery and molestation against foreign tourists. This, along with the weak Russian Rouble, resulted in fewer arrivals to India. Over the forecast period (2015-2019), domestic trips, inbound trips, and outbound trips are projected to grow at an average annual rate of 9.7%, 8.4%, and 4.6% respectively.
- The e-tourist visa facility launched in 2014 is currently available for the citizens of 113 countries at 16 airports. E-tourist visas simplify visa procedures and will help India to attract more international visitors. This is clear from the fact that after the introduction of e-tourist visas by India for Russian nationals, nearly 20,000 Russian tourists made use of this facility. In May 2015, Mr. Modi announced an e-visa for Chinese visitors. Furthermore, India and Russia are considering measures such as group visa-free travel, to increase tourist flows between the two countries.
- To attract investments in the aviation sector, India aims to remove the 5/20 rule that mandates that carriers fly for a minimum of 5 years domestically and possess 20 aircraft before flying overseas. If implemented, this rule will benefit companies such as Vistara, which entered the market recently.
Synopsis
Canadean's report - Travel and Tourism in India to 2020 - provides detailed information on the country's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.
What else does this report offer?
- Historic and forecast tourist volumes covering the entire Indian Travel and Tourism sector
- Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others
- Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics
- Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travelers
Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to India's Travel and Tourism sector
- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
- Direct the promotional efforts on most promising markets by identifying the key source and destination countries
Read the full report: http://www.reportlinker.com/p03596602-summary/view-report.html
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