India Travel & Tourism Market to Grow at CAGR 7% till 2021
Growing medical, wellness and
adventure tourism, improvement in connectivity
to and from India, along with rising middle class population base to
drive India travel & tourism market during the forecast period
According to TechSci Research
report, “India Travel &
Tourism Market, By Type, By Purpose of
Visit, By Tourist Profile, By Average Duration of Stay, By Mode of Travel,
Competition Forecast and Opportunities, 2011 - 2021”, travel & tourism market in India is projected to grow at a CAGR of over
7%, during 2016-2021, on account of increasing foreign tourist footfall in the
country, robust medical infrastructure development, rising government
initiatives and diversified service offerings by major companies. As per the Ministry
of Tourism, in 2015, foreign tourist footfall in India was over 8 million, which
was 4.5% higher than the previous year and this is projected to increase
through 2017, on account of rising infrastructural developments, increasing trend
towards recreational tourism and growing regional and central government’s
focus on promoting tourism sector. Over 1,430 million domestic tourists visited
different states/union territories of India in 2015.
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11 market data Tables and 94 Figures spread through 137 Pages and an
in-depth TOC on "India
Travel & Tourism Market"
https://www.techsciresearch.com/report/india-travel-tourism-market-by-product-service-offering-by-type-domestic-inbound-etc-by-purpose-of-visit-by-tourist-profile-by-average-duration-of-stay-by-mode-of-travel-competition-forecast-and-opportunities/883.html
South region dominated India travel & tourism market in 2015 and the region is anticipated to continue dominating the
market through 2021, on account of growing domestic and foreign tourist
footfall, and increasing number of religious and leisure trips to the region. Moreover,
south region of the country is also emerging as a key hub for medical and
wellness tourism. Leisure
& recreation segment dominated India travel & tourism market in 2015, on
the back of increasing number of people visiting families and friends for
various occasions and tour operators offering cheap packages. Medical tourism is
a small, but a robustly growing segment in India travel & tourism market.
Fast growth in India medical travel & tourism market can be attributed to
availability of cost-effective and high medical treatment procedures at internationally
renowned facilities.
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“Indian travel & tourism
industry has emerged as a key driver for the growth of the services sector in
India. Travel & tourism is also a large employment generator besides serving
as a significant source of generating foreign exchange for the country.
Increasing disposable income along with rising middle class has continued to
support growth of domestic and outbound tourism in the country. Furthermore,
Ministry of Tourism in India has been proactively engaged in designing national
policies for promotion and development of travel & tourism sector in the
country. The Ministry is also collaborating with other stakeholders in the
industry including state governments, various central ministries/agencies,
representatives of the private sector and union territories. Of late, with advent
of online booking for travel services, increasing number of people prefer to
use internet to book flight tickets, hotel accommodation, etc., instead
traditional travel agents, as it offers convenience and ability to compare
various prices and deals.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“India Travel & Tourism
Market, By Type, By Purpose of Visit, By Tourist Profile, By Average Duration
of Stay, By Mode of Travel, Competition Forecast and Opportunities, 2011 - 2021” has evaluated the future growth potential of travel
& tourism market in India and provides statistics and information on market
structure, size, share and future growth. The report is intended to provide
cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes emerging trends
along with essential drivers, challenges and opportunities present in India travel
& tourism market.
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