News
India travel and tourism market to grow at CAGR 7 % till 2021 : TechSci Research
Growing medical , wellness and adventure tourism , improvement in connectivity to and from India , along with rising middle class population base are the key factors driving India ’ s travel and tourism market during the forecast period South region dominated India travel and tourism market in 2015 and the region is anticipated to continue dominating the market through
2021 , on account of growing domestic and foreign tourist footfall , and increasing number of religious and leisure trips to the region . Moreover , south region of the country is also emerging as a key hub for medical and wellness tourism . Leisure and recreation segment dominated India travel and tourism market in 2015 , on the back of increasing number of people visiting families and friends for various occasions and tour operators offering cheap packages . Medical tourism is a small , but a robustly growing segment in India travel and tourism market . Fast growth in India medical travel and tourism market can be attributed to availability of cost-effective and high medical treatment procedures at internationally renowned facilities .
Indian travel and tourism industry has emerged as a key driver for the growth of the services sector in India . Travel and tourism is also a large employment generator besides serving as a significant source of generating foreign exchange for the country . Increasing disposable income along with rising middle class has continued to support growth of domestic and outbound tourism in the country . Furthermore , Ministry of Tourism in India has been proactively engaged in designing national policies for promotion and development of travel and tourism sector in the country . The Ministry is also collaborating with other stakeholders in the industry including state governments , various central ministries / agencies , representatives of the private sector and union territories .
O f late , with advent of online booking for travel services , increasing number of people prefer to use internet to book flight tickets , hotel accommodation , etc ., instead traditional travel agents , as it offers convenience and ability to compare various prices and deals . The research report has evaluated the future growth potential of travel and tourism market in India and provides statistics and information on market structure , size , share and future growth . The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation . Besides , the report also identifies and analyzes emerging trends along with essential drivers , challenges and opportunities present in India travel and tourism market .
8 destination exotica | february 2017