India’s Luxury Sector Poised for Exponential Growth
Photo Credit: The Oberoi Udaivilas in Udaipur, India, is designed after a traditional Indian palace. It includes courtyards, fountains, reflection pools, and gardens for guests to explore. The Oberoi Udaivilas
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India is ready for a jump in luxury travel, but it will need to catch up in terms of the accommodations and services that it can offer while also being conscious that local residents, not just multinationals, benefit from this growth.
The luxury sector is expanding rapidly in India with the market forecast to grow from its current $7 billion to $100 billion in just eight years, India’s Commerce and Industry Minister Normal Sitharaman noted at the Luxury Symposium 2017 in New Delhi.
There she emphasized that stakeholders in the growing luxury market, travel and otherwise, should be making sure that local businesses benefit from the growth. She encouraged the industry to discover and promote artisanal products made throughout India.
The same can be said for travel providers as luxury travel is part of this growing market.
India’s luxury travel market has projected annual growth rate of 12.8 percent between 2015 and 2025, according to analysis from Amadeus. This is the highest growth of any of the 25 economies studied. Luxury travel is growing at a much fa
