Research firms and the tourism industry are bullish on the potential of India for both domestic and international travel. Credit Ratings agency CRISIL has projected that a record 30 million Indians will travel overseas this year.
India's move to allow visa-on-arrival to Japan, South Korea, and the UAE nationals can significantly boost international tourism, given the close ties and proximity of the three countries to India. But is it enough?
With each long weekend, Indians are finding new destinations for travel. Scenic beauty and easy visa norms, however, continue to be a factor in how they make their booking decisions.
Tourism in India is growing, especially from domestic travelers. This is leading to a robust demand for accommodation across the country. But the India hotel industry needs to provide enough supply.
India's aviation sector is expanding and people from smaller cities are increasingly looking to fly. Keeping airfares in check is key to ensuring that air travel remains accessible to the Indian middle class, particularly as it makes up for about a third of the country's population.
International visitor spending in India in 2023 was 14% below pre-pandemic levels. UPI One World wallet eliminates the need for international travelers to carry currency, and could boost tourism spending in India.
IndiGo's strategy shake-up is evident as it moves from low-cost basics to premium offerings, with business class, wide-body aircraft, and now in-flight entertainment.
SpiceJet has been facing financial and legal issues for years. However, the positive momentum of the Indian aviation industry is keeping it from going bankrupt, and that is what the airline is banking on.