The Number of International arrivals of travelers to India, attained a value of 2,802.41 Thousand in 2020
The indicator recorded a historical decline (CAGR) of 35% between 2017 to 2020, and is expected to grow by ...
GlobalData projects the indicator to grow ...
India Travel and tourism segment overview
Number of International arrivals of travelers to India experienced a notable decline between 2017-2020.
The travel and tourism industry consists of revenues generated by passenger airlines, passenger rail, foodservice, hotels and motels, travel intermediaries and casinos and gaming market.
The length of the pandemic and restrictions introduced by various countries are still difficult to predict, though many governments had introduced the national lockdowns and temporarily banned sales of products that are deemed "non-essential".
Impact of COVID-19 travel and tourism segment in India
The Indian travel and tourism industry had been growing at a strong rate prior to 2020, when it suffered a steep decline amid the COVID-19 pandemic. The industry looks set to recover and grow at a very strong rate throughout the forecast period.
India is well known for its natural beauty and offers tourist destinations that de-stress and rejuvenate travelers, along with some World Heritage sites and some bio-geographic zones. This has been a key driver of growth within the leisure segment. The population’s rising income has spurred domestic leisure and business travel expenditure, while international tourist arrivals were also increased by the relaxing of visa requirements.
The Indian industry is expected to recover over the coming two years, driven by a rebound in tourism as travel restrictions around the globe are lifted.
The growth of business tourism will be spurred over the next few years by the ongoing expansion of convention centers, which will upgrade India's status as a MICE industry destination. Some of the increasingly popular MICE destinations in India include New Delhi, Hyderabad, Goa, Cochin and Agra, which will continue to contribute to growth in this segment.ble tourist inflow in India in the coming years.
Who are the leading players in the travel intermediaries market?
Goibibo is India’s leading online travel booking brand, providing a range of choice for hotels, flights, trains, bus and cars for travelers. Through GoStays, the company’s customers can enjoy a standardized stay experience at certified hotel properties.
MakeMyTrip Limited is an Indian online travel company that provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, and rail and bus tickets.
SOTC Travel Limited, formerly SOTC Travel Private Ltd, as well as Kuoni Travel (India) Pvt. Ltd., is a step-down subsidiary of Fairfax Financial Holdings Group; held through two companies, its Indian listed subsidiary, Thomas Cook (India) Limited (TCIL), and TCIL's subsidiary, Travel Corporation (India) Ltd.
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