The Tourism employment in Travel Intermediation segment in India, registered a value of USD 2,759.15 million in 2021
The indicator recorded a historical decline (CAGR) of 2.11% between 2018 to 2021, and is expected to grow by ...
GlobalData projects the indicator to grow ...
Tourism employment in Travel Intermediation segment in India experienced a huge decline between 2020 and 2021.
Travel intermediaries are part of a business that assists in selling travel products and services to customers. 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 "nonessential".
COVID-19 impacts on the travel and tourism segment in India
The Indian travel and tourism industry had been growing at a strong rate before 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.
As well as causing revenue to decline in the industry, the pandemic has also contributed to the closure of many hotels and motels in the country.
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 industry is looking forward to the expansion of its e-Visa scheme, which is expected to double tourist inflow in India in the coming years.
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.
Category segmentation
Foodservice is the largest segment of the travel & tourism industry in India, accounting for a significant percentage of the industry's total value. The Travel intermediaries segment accounts for a minor stake in the travel & tourism industry.
Indian travel and tourism industry
The Indian travel and tourism industry comprises a mixture of B2B and B2C industries and markets. For this competitive landscape, the analysis will focus on the food service, travel intermediaries, and airlines segments. The travel intermediaries market is dominated by large players, including Expedia Group, Goibibo, and MakeMyTrip.
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