Indian travel market to cross $125 billion by FY27, says report

The travel market in India, which was worth about $75 billion in FY20, is expected to cross $125 billion by FY27, a report titled "Travel market in India," released by RedCore – RedSeer’s arm which focuses on early stage companies, has found. 

 

The surge in travel is fueled by improving airport infrastructure and increasing access to passports. The travel market represents both domestic travel, inbound and outbound travel made by Indians.

 

It found that the travel market shrunk significantly in FY21 but recovery is expected to continue in FY22. It also expects to see a spike in the later years due to pent-up demand.

 

The Indian travel market is dominated by around 300,000 travel agents who represent the largest share by booking channel of around 52 per cent.  



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel