Indian Outbound Tourism To Grow At Over 11?GR Through 2034: FICCI Nangia Report

A FICCI Nangia knowledge paper highlighted that India's outbound tourism market is expected to reach $18.81 billion in 2024 and grow at a CAGR of 11.4 per cent between 2024 and 2034 to reach approximately $55.38 billion.

The paper Navigating Horizons: The Rise and Future of Indian Outbound Tourism, released during the 3rd Outbound Tourism Summit here in the FICCI office earlier this week, asserted that several emerging markets and opportunities for outbound travel include various Southeast Asian, Middle Eastern, African, and Eastern European countries. India's online travel market, which consists of sales of travel services through online channels, is expected to grow at a CAGR of at least 10.5 per cent between 2024-29, from USD 17.24 billion to USD 28.40 billion. The paper states that steady growth in affordable technology has thus eased international travel. It further states that the government administration and the tourism industry stakeholders in India may undertake various strategic interventions to promote the outbound tourism market. These include bilateral engagement, improved connectivity support to travel industry stakeholders, marketing of international destinations, curated packages, and hospitality partnerships. Speaking at the report's launch, Marry M Mutuku, Deputy High Commissioner of Kenya to India, said that Kenya is committed to deepening the relations between India and Kenya and promoting Kenya as a preferred tourism destination. "Currently, the Indian market is one the top 5 Kenya's key sources of tourists, and this has the potential to grow even further," she said in her brief address. To attract more Indian tourists to Kenya, Mutuku stated that Kenya has implemented the necessary infrastructure to ease travel there. "With an increase in the number of flights between the two countries and the opening of the Nairobi Expressway, tourists will have more convenience travelling in Kenya. A new cruise terminal at Mombasa Port significantly boosts cruise tourism. The berth aims to enhance passenger handling capacity and allow for an increased volume of cruise ships arriving at the port," she added. Seitenov Darkhan, Deputy Ambassador Embassy of Kazakhstan to India, had said, "We have huge potential for mutual and beneficial cooperation in the coming to Kazakhstan from India, which is also due to offering 14 days visa-free regime for Indian tourists along with an increase in number of direct flights." While highlighting the investment potential for the Indian industry, Darkhan further said that to meet the needs of Indian tourists in Kazakhstan, it would be advisable to consider building a network of Indian hotels and restaurants in the major cities. "We invite major Indian investors to participate in implementing these initiatives in our country," he added. Geshan Dissanayake, Minister of the Commercial High Commission of Sri Lanka in India, said, "The strong shared heritage between Indian and Lanka forms the bedrock of our bilateral relationship. India alone stands out as a key source market for Sri Lanka. The integration of the Indian UPI payment system with LankaPay has simplified payment options for Indian tourists visiting Sri Lanka," he added. Dissanayake further stated that to fully realize the potential of outbound tourism, there is a need to focus on marketing and promoting various offerings in Sri Lanka's infrastructure development, promoting sustainable tourism, and further streamlining the visa process.

Working together as a team, we can unlock the potential of outbound tourism between India and Sri Lanka," he added. Jotsna Suri, Past president of FICCI and CMD of The Lalit Suri Hospitality Group, stated that any country has to have healthy inbound and outbound tourism. "Indian tourism has witnessed a major growth in the last few years, and while we are at the threshold of massive growth, we must be cognizant of sustainability as well," she added. Ankush Nijhawan, chairman of the FICCI Outbound Tourism Committee, Co-Founder of TBO.com, and MD of Nijhawan group, said the global travel and tourism industry is expected to get to USD 2.6 trillion by 2027, growing at a CAGR of 8.2 percent. "Travelers' preferences are becoming increasingly diverse, and demand tailor-made travel services. Demographic boost government support increased connectivity and niche segment growth are powering India's outbound travel boom," he added. Representatives from the Embassy of Madagascar to India, the Embassy of Georgia to India, the Malaysian Tourism Promotion Board, and the Singapore Tourism Board also shared their perspectives during the session.

#indiatourism #indianews #indiaupdate #sustainability #hospitality #sector #travel #indiatourism #ficci