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Is India’s Travel Sector Poised for a Boom?

by Alice
India Luxury Train

India’s tourism industry is experiencing significant growth, fueled by the country’s rapid economic development. The industry contributed over $221 billion to India’s gross domestic product (GDP) in 2023 and is expected to reach nearly $10.5 trillion by 2034 if the government provides adequate support.

Experts suggest India’s current trajectory mirrors China’s travel industry growth over a decade ago. During that period, Chinese brands like Trip.com and Fliggy emerged as global leaders in the sector. Aloke Bajpai, managing director and group CEO of Ixigo, an Indian online travel platform that went public last year, noted the similarities. “If you look at India’s GDP per capita, online travel penetration, and discretionary spending, it closely resembles where China was about 12 to 14 years ago,” he said.

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Recent data and forecasts indicate India is on the brink of a travel boom. Phocuswright, a travel market research firm, predicts sustained momentum in the sector. Despite India’s relatively low income per capita—partly due to half of its population being under 25—the desire to travel remains strong. Coney Dongre, a research manager at Phocuswright, emphasized this trend. “The Indian travel industry is set for robust growth over the next five years,” she said. “The online travel market, in particular, is expected to grow faster than the overall industry, offering diverse travel options to people who previously had limited access.”

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As India’s purchasing power increases, travel is becoming an essential part of lifestyle choices. Dongre predicts that all segments of the travel industry will benefit from this shift, marking a new era of growth and opportunity for the sector.

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