The India Online Travel market is anticipated to grow at 21.16% CAGR from 2023 to 2028.
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India has witnessed a rapid digital transformation, with a growing number of people gaining access to the internet, primarily through smartphones. This has fueled the growth of online travel bookings. Online travel aggregator platforms like MakeMyTrip, Cleartrip, Goibibo, and Yatra have become household names in India. These platforms offer comprehensive solutions for booking flights, hotels, buses, trains, and even holiday packages. Online platforms provide an extensive range of accommodation options, from budget hostels to luxury resorts. Travelers can filter by price, location, amenities, and reviews, making it easy to find the perfect stay. The Indian Railways, one of the world's largest railway networks, is a significant component of online travel. Travelers can book train tickets, check seat availability, and get real-time information on platforms like IRCTC. Online bus ticketing has gained traction, especially for inter-city travel. Platforms offer options to book sleeper, semi-sleeper, and luxury buses, with real-time tracking and boarding points. Travelers can explore a variety of holiday packages that include flights, accommodations, and sightseeing tours. Customizable packages cater to different budgets and preferences. Adventure tourism is on the rise, with platforms offering bookings for activities like trekking, river rafting, paragliding, and wildlife safaris. Online agencies are now offering cruise bookings, appealing to travelers seeking sea voyages and cruise holidays. Solo travel has gained popularity, with platforms providing resources and support for solo travelers, including safety tips and community forums to connect with like-minded individuals. User-generated content, including reviews, ratings, and travel stories, plays a significant role in helping travelers make decisions. Many travelers rely on peer recommendations. Travelers in India often plan trips around festivals and holidays. Online platforms offer packages and discounts tailored to specific festivals and seasons. Online agencies cater to the student and youth travel segment, offering budget-friendly options, group tours, and student-specific discounts. India's diverse cultural festivals are a major draw. Online platforms offer packages for events like Diwali, Holi, and Navratri, allowing travelers to immerse themselves in local traditions.
According to the research report "India Online Travel Market Overview, 2028," published by Bonafide Research, the India Online Travel market is anticipated to grow at 21.16% CAGR from 2023 to 2028. India's internet travel industry is maturing as more industries switch to digital media. Online travel gross booking growth will exceed that of the whole travel market by double digits. Due to the convenience of the internet and the introduction of artificial reality (AR), the online travel sector in India is changing quickly. As a result, an increasing number of Indians are using it to find cheaper flights and lodging. Holiday packages are increasingly being offered in conjunction with travel and transportation options, including ones that include airport transfers. The largest continuous development in India is the accessibility and affordability of air travel and the government's regional airport development programme is encouraging connectivity to smaller cities and villages. The growing tourist industries, as well as the expanding penetration of internet usage and smartphone users across various countries, are the key drivers of the Indian online travel business. Additionally, the market will increase favourably as a result of rapid urbanisation, rising per capita income, economic expansion, and changing consumer lifestyles that favour better services and comfort. With its contribution to the GDP of India, the travel and tourism sector was the seventh-highest GDP contributor. Over the last ten years, India's economy has grown at one of the fastest rates in the world. As more Indians with expanding disposable incomes travel more frequently both domestically and internationally, positive economic improvements could help to boost the nation's tourism industry. The Indian government's encouragement of the industry should also help it grow. The rising level of personal discretionary income is what is fuelling the expansion of the internet travel industry in India. Innovative travel and holiday package deals are being offered by market players to help consumers choose wisely based on their budgets. Examples include inexpensive packages for overseas destinations, savings on car rentals, and cash back on international flights. The number of foreign departures has been continuously increasing over the years, and long-term trends indicate a significant possibility for volume expansion in the international tourism sector as a result of millions of Indians' rising disposable incomes. The amount spent on international travel by Indian tourists has been rising along with the number of departures.
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