India Tourism Report Q1 2015: New research report available at Fast Market Research

From: Fast Market Research, Inc.
Published: Fri Nov 28 2014

The India tourism report examines a range of key indicators in this enormous market, including expected growth in the number of inbound and outbound travellers and the forecast increases in tourism-related expenditure and industry value. With growth expected across the board as India benefits from improving domestic economic conditions and expands its regional and international travel connections, the future is looking very bright for the burgeoning tourism industry.

The outbound tourism market is currently more substantial than inbound tourism, with some 17.6mn tourism departures expected in 2015. With a population of more than 1.2bn, India offers an enormous potential outbound tourism market, as well as a substantial domestic tourism market. In line with this, many major tourist destinations such as Australia, South Africa and Egypt are actively targeting the Indian outbound tourism market. As GDP growth in the country continues and private financial consumption (a key indicator of tourism spending) expands, we expect to see healthy growth in the number of departures, forecast to reach around 24.4mn in 2018.

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The inbound tourism market is smaller, though still well established. India recorded 7.3mn visitors in 2014, and we expect growth of 5% to lead to arrivals of 7.6mn in 2015. India has an extensive range of attractions to offer potential visitors, including the mountain ranges of the Himalayas, the aquatic wonderland of Kerala, the Thar desert and endless historical and cultural attractions (not to mention picturesque beach holiday destinations) and an impressive 32 sites on the UNESCO World Heritage List. There is a great deal of scope to expand tourism across the country, and as the country improves air travel connections and relaxes visa restrictions, we expect arrivals to grow to reach 8.8mn by the end of the forecast period in 2018.

The government is increasingly supportive of the tourism industry and recently announced an...

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