SME Times is powered by   
Search News
Just in:   • Corp tax cut to help top 1,000 firms save Rs 37K cr: Crisil  • Hats off to Sitharaman for tax cut: Mazumdar-Shaw  • Tax sops to boost India's IT competitiveness: Nasscom  • Export key to become $5-tn economy: Niti official  • Supply shortage sends onion prices soaring to 4-yr high 
Last updated: 17 Apr, 2019  

Tourism.9.Thmb.jpg India's travel spend to grow to $136 bn by 2021

Tourism.9.jpg
   Top Stories
» Export key to become $5-tn economy: Niti official
» Corp tax cut to push investment flow to exports: FIEO
» Industry hails govt's Rs 1.45L cr stimulus
» Corp tax cut raises fiscal risks, warns Moody's
» Modi govt unrolls Rs 1.45 lakh cr tax bonanza
SME Times News Bureau | 17 Apr, 2019
The travel spend in India is expected to grow at 13 per cent to a total of $136 billion by 2021, said a new report by Bain & Company and Google India on Tuesday.

According to the "How Does India Travel" report, the Indian traveller spent around $94 billion in 2018 on around 2 billion domestic and international trips, thus, helping India's travel and tourism industry achieve unprecedented scale.

"New users perceive that online channels are geared towards more frequent flyers and experience-oriented travellers and existing travellers research online but the lack of trust in payments and booking experience make them end up booking offline.

"If travel players tap these online users through personalised marketing, messaging and travel plans, they can further augment online travel bookings. This can be done by adopting digital technologies to influence customers early in the journey," Vikas Agnihotri, Country Director-Sales, Google India, said in a statement.

The report indicates a 12 per cent growth in transportation ($50 billion) and 13 per cent growth in lodging ($21 billion) and consumption, which includes spends on shopping, recreation and food, to grow at 13 per cent ($65 billion) over the next three years.

"There is a perception amongst consumers that online channels are geared towards premium customers, along with a marked distrust around payment and pricing terms. It is imperative for businesses to address these concerns in order to effectively tap into the growing base of users," Arpan Sheth, Partner, Bain & Company said.

As more people come online, smartphone penetration improves and use of digital payments goes up, the report predicts that Indian travellers would spend an additional $24 billion on online travel bookings over the next three years, a growth from 25 percent in 2018 to 35 per cent in 2021.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 23 Sep, 2019
  Daily Poll
Is the Union Budget 2019 MSME-friendly?
 Yes
 No
 Can't say
  Commented Stories
» Modi govt unrolls Rs 1.45 lakh cr tax bonanza(1)
» L&T secures Rs.3.44 billion project from Power Grid(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter