India's travel industry is thriving with its rapidly growing economy

Some experts say its growth mirrors China's trajectory more than a decade ago, when brands like Trip.com and Fliggy emerged as industry leaders

India's growth signals an impending travel boom, with Phocuswright predicting continued momentum. Despite low per capita income, nearly half of the population under the age of 25 has a strong desire to travel, says Phocuswright's Coney Dongre.

Key takeaways

• The Indian travel industry is poised for significant growth over the next five years, with the online travel market expected to outpace overall industry growth. This expansion is opening up diverse travel opportunities to individuals who previously had limited access.
• As purchasing power increases, travel is becoming an "essential lifestyle element," benefiting players across all segments. The overall travel market is growing at approximately 9%, while online travel - including direct online and B2B2C platforms - is growing at 12-13%. In particular, the B2C online travel agency market is experiencing the fastest growth at nearly 18% year-over-year.

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