India Travel & Tourism Market: Unraveling the Potential of New Materials and Manufacturing Processes by 2029 | TechSci Research

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According to TechSci Research report, “India Travel & Tourism Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the India Travel & Tourism Market stood at USD18.92 billion in 2023 and is anticipated to grow with a CAGR of 13.45% in the forecast period, 2025-2029. The India Travel & Tourism market is a vibrant and diverse sector that has long been a significant contributor to the country’s economy and cultural fabric. Renowned for its rich history, diverse landscapes, and a wealth of cultural attractions, India has consistently attracted travelers from around the world.

Travel and tourism in India have deep historical roots. From the ancient trade routes that crossed the Indian subcontinent to the arrival of European explorers and the British colonial era, India has been a crossroads of cultures and civilizations. Its historical sites, such as the Taj Mahal, Jaipur’s palaces, and the temples of Varanasi, continue to draw tourists seeking a glimpse into the past.

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The travel and tourism sector plays a significant role in India’s economy. It contributes to GDP, generates employment, and fosters growth in various related industries. Domestic tourism has been a driving force in India. The country’s vast geographical and cultural diversity offers a wealth of experiences to its own citizens. From the snow-capped Himalayas in the north to the sun-soaked beaches of the south, domestic tourists explore a wide range of destinations. The “Incredible India” campaign by the government has encouraged Indians to explore their own country.

India has also been a favorite destination for international tourists. The country’s blend of historical, cultural, and natural attractions has drawn visitors from all corners of the globe. Foreign tourist arrivals (FTAs) had been steadily increasing before the COVID-19 pandemic, with India attracting millions of tourists annually.

Mapping the course for Indian travel and tourism | Travel - Hindustan Times

The COVID-19 pandemic, which emerged in late 2019, severely impacted the travel and tourism sector worldwide. India was no exception. Lockdowns, travel restrictions, and health concerns led to a dramatic decline in both domestic and international tourism. The sector faced significant challenges, including job losses, business closures, and the need to adapt to new safety protocols.

Despite the challenges posed by the pandemic, the India Travel & Tourism market has displayed resilience. As vaccination campaigns progress and travel restrictions ease, the industry has been on a path to recovery. A shift toward domestic tourism has been observed, with travelers exploring local destinations, hill stations, and nature-centric locations.

The pandemic accelerated the adoption of digital technologies in the travel industry. Online bookings, contactless check-ins, and digital health certificates became common practices to enhance safety and convenience. Travel companies and agencies swiftly adapted to these changes to meet evolving consumer expectations.

Sustainability and responsible tourism have gained prominence in India. Travelers increasingly seek experiences that are environmentally friendly and contribute positively to local communities. Eco-friendly accommodations, wildlife conservation efforts, and community-based tourism initiatives are becoming more prevalent.

India’s rich cultural and heritage assets continue to be a major draw for tourists. The Golden Triangle circuit, which includes Delhi, Agra, and Jaipur, is a popular route for exploring historical and architectural marvels like the Taj Mahal and Amer Fort. These sites offer insights into India’s fascinating history and artistic achievements.

The diverse landscapes of India, from the Himalayas to the Western Ghats, provide ample opportunities for adventure tourism. Treks, mountaineering, white-water rafting, and wildlife safaris attract adventure enthusiasts looking for adrenaline-pumping experiences.

India has emerged as a prominent destination for medical tourism. The country’s world-class healthcare facilities offer cost-effective medical treatments and procedures, attracting patients from around the world. This segment continues to grow as India’s healthcare infrastructure improves.

The industry is susceptible to global events, such as health crises, geopolitical tensions, and economic downturns, which can disrupt travel patterns and reduce tourist arrivals. Additionally, the need for continued infrastructure development, including transportation, accommodations, and sanitation facilities, is crucial for the industry’s growth. Furthermore, balancing the growth of tourism with sustainability and environmental conservation is a complex challenge. Overcrowding and environmental degradation in popular destinations must be managed responsibly.

The ongoing need for health and safety protocols, such as sanitation, social distancing, and vaccination requirements, poses operational and logistical challenges for businesses. Additionally, the industry requires skilled professionals in various roles, from hospitality and tour guiding to digital marketing and sustainable tourism management. Addressing the skills gap is essential. Furthermore, effective marketing strategies and promotion campaigns are needed to attract tourists, both domestic and international. Coordinated efforts by the government and private sector are vital.

India Travel & Tourism market is segmented into type, sales channel, and region.

Based on type, the market is segmented into domestic, inbound and outbound. Among these, domestic segment has a significant share in the India travel & tourism market. India is a vast and diverse country, offering a wide range of destinations, landscapes, and cultural experiences. From the snow-covered peaks of the Himalayas to the pristine beaches of Goa and the historical marvels of Rajasthan, India’s domestic travelers have an abundance of choices.

Based on region, the market is segmented into East, West, North, and South. Among these, the North region has a significant share of the India travel & tourism market. The North region is a treasure trove of historical and cultural heritage. It is home to iconic cities like Delhi, Agra, Jaipur, and Varanasi, each of which boasts a rich history and an array of UNESCO World Heritage Sites. The Taj Mahal in Agra, the forts and palaces of Rajasthan, and the ancient temples of Varanasi are just a few examples that draw history enthusiasts and culture seekers from around the world.

Major companies operating in India Travel & Tourism market are:

  • Makemytrip Pvt. Ltd.
  • Thomas Cook Ltd.
  • Country Holidays Inn & Suites Pvt Ltd
  • Yatra Online Limited
  • Riya Travel And Tours (India) Private Limited
  • Cox & Kings Limited
  • Cleartrip Private Limited
  • Ibibo Group Private Limited
  • Le Travenues Technology Pvt. Ltd. (Ixigo)
  • Sotc Travel Services Private Limited

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“India Travel & Tourism market is a multifaceted and dynamic sector that plays a vital role in the country’s economy and cultural identity. While it has faced significant challenges, including the impact of the COVID-19 pandemic, the industry continues to display resilience and adaptability. As travelers seek diverse experiences, including cultural, adventure, and sustainable tourism, the India Travel & Tourism market remains poised for growth and transformation in the years to come.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

India Travel & Tourism Market Size By Type (Domestic, Inbound and Outbound), By Service Offering (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Others), By Purpose of Visit (Business, Leisure & Recreation, Education, Medical, Social Activity and Others), By Booking Type (Travel Companies, Travel Agencies, Online, and Others), By Region, By Competition Forecast & Opportunities, 2019-2029F, has evaluated the future growth potential of India travel & tourism market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India travel & tourism market.

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