India’s travel industry is booming at a fast pace. It is expected to reach a revenue of about $24 billion by the end of 2024, demonstrating a 10% annual growth rate over 2023
As temperature soars as high as 40 degrees and heatwaves cover the country in a warm mist, travelholics are all set to pack their bags and start their travel escapades. To beat the heatwaves, scenic mountains, relaxing getaways, and beach holidays have increasingly become the perfect choice for travel buffs. Today, the travel industry curates’ unique experiences, storing something special for all, whether you’re an adventure seeker or an avid explorer.
With the scorching summer travel season approaching, one can expect the travel sector to surpass the pre-pandemic levels. Driving this optimistic outlook, India’s travel industry is booming at a fast pace. It is expected to reach a revenue of about $24 billion by the end of 2024, demonstrating a 10% annual growth rate over 2023, as per the Indian Brand Equity Foundation (IBEF).
Speaking further he added, “Going by the booking trends, expect shorter booking windows to be a defining feature of this summer’s travel scene. Last-minute bookings are all the rage as travellers embrace flexibility and seize the moment. However, with the travel surge comes the risk of a rise in airfare and hotel costs. While the exact impact remains to be seen, travellers may need to factor in potentially higher prices when planning their summer escapes. Booking early, looking at destinations where they can drive to, and exploring alternate accommodations like home rentals could be some of the options for travellers to plan and enjoy their holidays better this summer.”
Commenting on the upsurge in wellness-focused travel trends, Philip Logan, COO, Royal Orchid Hotels said, “As we embrace the summer season, we are witnessing an exciting shift in travel trends. At Royal Orchid Hotels Ltd., we recognise the importance of adapting to evolving preferences and providing exceptional experiences to our guests. This summer, we anticipate a resurgence in leisure travel, with travellers seeking unique destinations and immersive experiences. Additionally, we observe a growing preference for sustainable and wellness-focused travel options, reflecting a deeper connection to nature and personal well-being. As travellers embark on their journeys, whether by road, air, or train, we remain committed to delivering unparalleled hospitality and ensuring memorable stays for every guest.”
Way Forward
The travel landscape is pulsating in 2024. Driven by the urge to travel and delve into immersive experiences, this season is predicted to exhibit a notable spike in bookings within India as well as internationally. The trends have gradually moved beyond escaping the heatwaves and have become more than imperative to quench the thirst for rejuvenation and global exploration.