According to the World Travel and Tourism Council, Indian travelers are expected to spend $34.2 billion on outbound travel in 2023.
But what is the current level of Indian travel “It’s very small compared to what’s to come,” said Alan Watts, Hilton’s Asia-Pacific president.Squawk Box Asia” monday.
“The story of India is before us,” he said. “India Outbound will be the story of the next decade.”
According to the World Travel and Tourism Council’s Economic Impact 2024 report, by 2034, outbound spending by Indian travelers is projected to more than double to $76.8 billion – which would take the country from the 12th to the seventh largest travel spender in the world. 2023.
“When you think about India, it has characteristics of China, which is the second-largest housing market in the world,” Watts said. It has “1.4 billion people, a young population, historically strong GDP growth. But infrastructure…India is just being built right now.”
India is investing heavily in infrastructure to build and improve its roads, high-speed trains and airports in a bid to double its economy to $7 trillion by 2030. Make India a developed nation by 2047.
According to Airports Council International, India currently has the third highest number of air passengers in the world after the United States and China. It said 960 million new passengers are expected to be added by 2042.
On Monday, the country’s flag carrier Air India confirmed an order for 100 Airbus aircraft – 10 A350 and 90 A320neo jets – on top of the then record-breaking order for 470 Airbus and Boeing aircraft in 2023.
which follows A record-breaking order for 500 Airbus jets by India’s low-cost carrier IndiGo in 2023, which is scheduled to be delivered between 2030 and 2035, according to IndiGo.
On whether India will be the “new China” in the global travel industry, Watts said, “It certainly seems like it has the right characteristics for it, and that’s why the industry is so excited.”
He also said that outbound travel in India is growing faster than China.
hotel extension
Global hospitality companies are also preparing for an explosion of new travelers as millions of people are expected to join the Indian middle class in the coming years.
On November 19, Hilton announced a deal to open 150 Spark by Hilton hotels in India, a “premium economy” brand launched in the United States, in 2023.
Discussing the prospects of branded hotel expansion in India, Watts confirmed that India has the same number of branded hotels as Las Vegas.
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But now it is getting more attention from external investors.
“What is different in India this time is its foreign direct investment. In fact, some of the big capitalists are in India and that is new,” Watts said.
Marriott, IHG, Hyatt and Wyndham are also moving to tap the growing travel interest in India, with Marriott announcing its plans 250 hotels in the subcontinent by 2025,
greeting indian travelers
As outbound travel from China slows, more countries are attracting Indian travelers through new visa-free agreements. direct flights And advertising campaigns.
Australia’s “How to stay on vacationThe campaign, launched during the Australia-India Test cricket series in November, is estimated to reach 50 million people, according to the trade and tourism minister.
According to a press release announcing the campaign launch, the number of Indian travelers to Australia is expected to double by 2028.
