India Outbound Tourism Market is analyzed to exceed US$ 42 Billion in 2024
Indians are visiting other countries more than ever, and this trend is expected to continue in the future as well. India is a country of over 1.3 billion people. The economy of India is also growing at a rapid pace and Indians are earning more than ever resulting in a much higher disposable income. Policies of government are also supporting the Indian outbound tourism market like improving air connectivity and good relationships with other countries. India Outbound Tourism Market is analyzed to exceed US$ 42 Billion by the year 2024, according to Renub Research analysis.
Indians like visiting foreign countries for holiday, VFR (visit friends & relatives), business and study purposes. Indian prefers to visit countries like Thailand, Singapore, United States, United Kingdom, Australia, Canada, China and South Korea. First-time Indian tourist prefers to visit Asian countries such as Thailand, Singapore as they are less expensive, then western countries and proximity to India is also a significant factor. For long-haul travel Indian tourist likes to visit, European countries as well as the United States and Canada. From India business tourist outnumbers holiday tourist when visiting Japan.
Thailand, Singapore and United States are the most favorite Tourist Destination for Indians
In this report, we have done extensive investigation of top 11 destinations for India outbound tourist. We have also studied the number of independent factors that affects Indian outbound tourist to each of 11 destinations. In addition, we have done detailed analysis of growth drivers.
Number of Indian Business Tourists visited Japan is bigger than Holiday Tourists Number
According to Renub Research analysis, the number of business tourist from India visited Japan is larger than the number of holiday tourist. Indian outbound business tourist to China is also showing positive trend and will be continue in forecast period of time. Indian tourists visit to Thailand in huge numbers because of its reasonableness and nearness. Thailand currency (Thai Baht) gaining the benefit of tourism arrival due to strong position against Dollar and Euro.
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United States is Prime Destination for Higher Spending
United States is prime destination for Indian outbound travelers in the world. Around more than 1/3rd the total worldwide expenditure by Indian tourist is spent in United States alone. United States is popular destination for the entire segment like holiday, VFR, Business and Others.
Tourism Types (Purpose of Visit) – Tourists Numbers & Market for Each Country
- Holiday
• VFR (Visit Friends & Relatives)
• Business
• Others
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