According to a report titled ‘Travel market in India,’ published by RedCore – RedSeer’s unit which focuses on early stage companies, the travel market in India, which was worth about US$ 75 billion in FY20, is projected to cross US$ 125 billion by FY27.
The rise in travel is powered by developing airport infrastructure and increasing access to passports. The travel market represents both domestic travel, inbound and outbound travel made by Indians.
Accroding to report, the travel market dwindled significantly in FY21 but revival is expected to continue in FY22. It also assumes to see a spike in the later years due to rising demand.
The Indian travel market is led by ~ 300,000 travel agents who represent the largest share by booking channel of around 52%.
You may also like
-
India’s Office Leasing Market Set for Strong FY27 as GCCs and Flex Workspaces Drive Demand
-
India Looks to Russia’s Tomtor Rare-Earth Deposit as Critical Mineral Race Intensifies
-
CSIR Transfers Seven Technologies to Industry, Releases Indian Reference Standards and Hands Quantum Sensing Components to DRDO
-
PM-VBRY: Centre Moves to Direct Incentive Stage in India’s Formal Jobs Push
-
India Raises Domestic LPG Production by 25% as Energy Security Measures Take Effect
