Indian outbound tourism to grow by over 11%

International travel has been made easier by the steady growth of affordable technology, according to a new report

India's outbound tourism market is forecast to grow from an estimated $18.8 billion in 2024 to over $55.3 billion by 2034, representing a compound annual growth rate (CAGR) of 11.4%.

Key takeaways

• The FICCI-Nangia Knowledge Paper also highlighted that India's online travel market, driven by sales through digital platforms, is expected to grow at a CAGR of 10.5% from 2024 to 2029, from $17.24 billion to $28.40 billion;
• Emerging markets and opportunities for outbound travel are identified in several Southeast Asian, Middle Eastern, African, and Eastern European countries;
• Traveler preferences are becoming increasingly diverse, with a growing demand for personalized travel experiences. Factors such as demographic growth, government support, improved connectivity and the expansion of niche segments are fueling India's outbound travel boom.

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