India's Travel Market

Overseas travel spending by Indians, including holiday trips, declined by USD 212.43 million to USD 1.09 billion in March compared to February, according to the Reserve Bank data. The outward remittances for travel were at USD 1.3 billion in February and USD 1.65 billion in January this year. The RBI data on 'Outward Remittances under the Liberalised Remittance Scheme (LRS) for Resident Individuals' shows overseas spending by Indians under different categories, including travel, maintenance of close relatives, studies abroad, investments in equity and debt. Under the LRS, resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April-March) for any permissible current or capital account transaction or a combination of both. Against the backdrop of the West Asia conflict pushing oil prices higher and pulling down the rupee to record lows, Prime Minister Narendra Modi has urged people to reduce foreign travel and opt for carpooling,

MakeMyTrip will acquire a majority stake in Flamingo Transworld, aiming to expand its holiday packages business by tapping the tour operator's strong regional presence in western India

Fog, flight disruptions and rising costs are pushing Indians to book later, take shorter breaks and favour domestic destinations over long-haul international trips this December-end

myBiz, MakeMyTrip's SaaS-based corporate booking platform, and Swiggy on Tuesday announced a partnership to simplify meal expense management for corporate travellers across the country. With this partnership, corporate travellers can seamlessly order meals through 'Swiggy for Work' on the Swiggy app and pay directly using the myBiz corporate wallet, according to a statement. All transactions are automatically captured in company expense systems, giving finance teams real-time visibility and ensuring policy compliance. Employees will need a one-time authorisation with their corporate ID to get started. "With this partnership, we are combining Swiggy's restaurant network and delivery infrastructure with myBiz's corporate travel ecosystem to take the complexity out of business meal management. It's a step forward in our mission to make corporate travel not just seamless, but truly end-to-end convenient for employees and finance teams alike," MakeMyTrip Co-Founder and Group CEO Rajesh

Global major open to investing in more travel cos in India

Several upscale hotels in New Delhi reporting cancellation or postponing of business meetings, conferences

The banking and financial services sector - which makes up nearly a third of revenue for India's biggest software exporter - remains unaffected, said the CEO

The temple town of Ayodhya is gearing up for a massive influx of devotees and tourists as the new year approaches, marking the end of the first English calendar year since the grand consecration ceremony at the Ram Temple was held on January 22. With nearly all accommodations in Ayodhya and neighbouring Faizabad fully booked, the Ram Janmabhoomi Teerth Kshetra Trust has extended 'darshan' timings for the devotees and made extensive arrangements to manage the anticipated crowd. "We are ready to welcome the devotees this new year. All our rooms have been booked in advance till January 15," Ankit Mishra, owner of a local hotel in Ayodhya, said. When last checked on Saturday morning, online booking platforms showed rooms still available at some hotels and lodges, even though a few establishments are charging upwards of Rs 10,000 per night due to the surge in demand. Ayodhya has witnessed a spike in religious tourism since the consecration ceremony earlier this year, and while the Hindu

The ETS market, valued at Rs 50,350 crore in 2023, is projected to reach Rs 1.09 trillion ($13.2 billion) by 2030, according to the Red Herring Prospectus by Eco Mobility, a car rental company

Le Travenues Technology Ltd, which operates travel booking platform ixigo, on Friday said its existing sharehoders have completed the sale of equities worth a little over Rs 176 crore in a pre-IPO round. Those who picked up shares are Ashoka India Equity Investment Trust Plc, Tata Multi Asset Opportunities Fund, Tata Digital India Fund, Bay Capital Holdings and Steadview Capital Mauritius, ixigo co-founders Aloke Bajpai and Rajnish Kumar told PTI in an interaction. The travel aggregator's certain shareholders -- SAIF Partners India IV Ltd, Peak XV Partners Investments V (formerly known as SCI Investments V), Micromax Informatics Ltd, and Catalyst Trusteeship Ltd -- collectively sold 1.89 crore shares to these institutional investors on June 6 at Rs 93 apiece, which is also the upper end of the price band for the company's Rs 740-crore IPO. At this price, the total transaction is pegged at Rs 176.2 crore. This pre-IPO round has been completed just before the anchor round that opens o

Thrust on developing the tourism industry will help India achieve the $5 trillion economy target faster

After more than 5,000 electric buses were readied in five states as part of the Grand Challenge scheme, there is a demand from other states for an additional 15,000

The central government has issued new guidelines for the Leave Travel Concession (LTC) availed by employees, which will now include air tickets

Analysts expect that the travel sector is poised for a resurgence on the back of demand revival and increase in consumers confidence.

Family offices, high net-worth individuals and institutional investors are looking at the sector, say advisory firms

With foreign travel set to pick up, here's how you can get the best deals for your trip, along with advice on the destinations you could to head to

Any positive development in the travel industry may boost related stocks.

In addition to its holiday business, Thomas Cook India has observed increased uptick from the wedding and honeymoon segment

The surge in travel is fueled by improving airport infrastructure and increasing access to passports

Surge in trips planned for Africa, Oman and UK with expansion of air travel bubbles