Millennials in India are emerging as the top spenders on travel – with an average annual expenditure of USD 6,031, reveals Collinson International’s newly released Travel Benefits and Customer Engagement Report. It further mentions that travel now accounts for nearly one third, which is 27%, of total credit card expenditure in India.

The report is based on a survey of 7,250 respondents across 14 Asia-Pacific markets. It reveals that travel is the second-highest expense for Indian consumers. The report also revealed that 48% of Indian Millennials prioritise travel-related perks when selecting a credit card, with benefits like earning and redeeming miles, airport lounge access, exclusive travel experiences, and travel insurance being highly valued.

Sumit Prakash, country director, India and South Asia, Collinson International, while speaking to media, said, “Our research highlights that travel is a key driver for consumer expenditure, with a strong ‘travel resonance’ among Indian survey respondents. The rise of Indian outbound travellers, coupled with increasing travel spend by millennials, demonstrates the growing opportunities present in the market that brands, particularly in the financial services sector, can leverage to bring further value.”

According to the report, 90% of respondents indicated that they would expect airport lounge access as a standard benefit from any credit card with an annual fee. Additionally, 89% stated they would consider switching to a different card if their current one no longer offered lounge access.

Meanwhile, earlier, MakeMyTrip released its report named ‘How India Travels Abroad’ for the period of June 2023 to May 2024. It has highlighted the top 10 countries that these travellers are looking forward to explore. And its not Europe or the US but Kazakhstan, followed by Azerbaijan and Bhutan.

MakeMyTrip released its report named ‘How India Travels Abroad’ for the period of June 2023 to May 2024. It has highlighted the top 10 countries that these travellers are looking forward to explore. And its not Europe or the US but Kazakhstan, followed by Azerbaijan and Bhutan.