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India's travel spend to grow to $136 bn by 2021

IANS  |  New Delhi 

The travel spend in is expected to grow at 13 per cent to a total of $136 billion by 2021, said a new report by and on Tuesday.

According to the "How Does 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 are geared towards more frequent flyers and experience-oriented travellers and existing but the lack of trust in payments and booking experience make them end up booking offline.

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

The report indicates a 12 per cent growth in ($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 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, said.

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

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 16 2019. 15:40 IST
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