The industry is expected to grow by 13 per cent to $136 billion in 2021, said the report called How Does India Travel by Bain & Company and Google India today.
The $136 billion spending will include a 12 per cent growth in transportation ($50 billion) and a 13 per cent growth in lodging ($21 billion) and consumption. This includes spending on shopping, recreation and food, which are set to grow at 13 percent ($65 billion) over the next three years.
In 2018, Indians took roughly 1.8 billion trips, with both domestic and international travel growing 8 per cent over the last three years. Mid-market and budget hotels make up about half of the market.
The report says that as more and more people come online, Indians will spend an additional $24 billion on online travel bookings over the next three years, a growth from 25 per cent in 2018 to 35 per cent in 2021.