Outbound Travel

Tour operators bet big on luxury domestic travel


MUMBAI
Enjoying the sunset on a private yacht or hopping on a heli-taxi service to some of the lesser-known pockets of the country, Indian travellers are seeking to explore the most exquisite travel ideas.

While luxury tourism caters to a niche market in India, tour operators expect this segment to grow by 25 per cent annually, heightened by the depreciating rupee making outbound travel costlier and an array of offers dished out by tour operators for domestic travellers.

“We expect the luxury domestic travel sector to grow by 20-25 per cent. In next 5-10 years, India will see a greater amount of travel spends,” said Sunil Hasija, Executive Director, TUI India. A Barclays report highlighted that lifestyle experiences such as travel have become the most popular use of wealth. About 43 per cent of high net worth individuals (HNIS) in India cited travel as their first option, the report added. The trend is bringing cheer among the travel and tourism players who are betting big on the domestic travel space.

According to industry body Assocham, the tourism industry saw a growth of 35 per cent in domestic tourists in the first six months of 2013 compared with a drop of 20 per cent during the same period last year.

Full report here Business Line 

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