The Indian summer – Twissen Season Report Winter 2017
In India, considering the growing income levels, a new travelling class is rising: middle class housewives. In fact, regarding the origin of tourism flows, India is one of the most interesting markets at a global level.
A recent report by Oxford Economics commissioned by Visa, in fact, states that each one of the 282 million Indian housewives can afford at least one international travel per year, generating a 35% annual growth in this segment, with extraordinary expense previsions. Other interesting targets are Seniors who are more than 65 yo (+11,4%), people aged 34-64 (+6,4%) and under 35 yo (+4,9%).
As reported by Hosteltur, in 2016 Indian tourists were among the ones with the highest expense propensity towards shopping during their travels (+11%), and were overtaken only by Chinese tourists (+11,2%), confirming their interest towards the luxury segment.
In 2016, the preferred destinations by Indian travellers were Japan, New Zealand, Seychelles, Israel, Bangladesh and South Korea.
As for Europe, some destinations started policies to enhance their appeal. In Switzerland, for example, the mutual exemption from Visa is in force, the Schiphol Airport (Amsterdam) projected to open an Indian restaurant, while Ireland and Greece are organising to sign bilateral cooperation agreements.
As for the online distribution, Allied Market Research foresees a 18,5% growth in the 2014-2022 period for the Indian market, with following strengthening of its leadership. The biggest players are MakeMyTrip and Yatra, but the lively entrepreneurial and technologic scenario, matched with the presence of capitals, encourages important developments of innovations and alternative business models.
Regarding the business travel segment, India is a performing market: according to the Global Business Travel Association, in 2016 this segment registered about 33 billion dollars (+5,4%).
Players should pay attention to the current demonetisation trend: Indian tourists are more likely to use credit cards, debit cards and alternative payment methods (APMs) rather than paying cash.
In the Report you can also find about:
- It’s time for Bota!
- Wi-Fi on board, now also in airplanes
- Mega Online Travel Retailers VS Travel Market Platforms
- Indian Summer
- Cruises: innovation through product
- Mobile is the strategy
- Emerging destinations compete for cycling tourists
- Student travel: a profitable target for hotels and OTAs
- Travel Ban adds uncertainty to US tourism