New Delhi: Today, when we talk about the largest and fastest growing economic sectors, travel and tourism sector has made its name at the top of the list.
Such immense growth in India under this sector has been due to flexible policies and regulatory support by the government authorities, which further includes rising income levels and changing lifestyle of the common people.
No matter there has been drastic fluctuations in the rupee value, or the GDP increasing by more than seven percent every year, yet Indian tourism did not seem to get affected. Moreover, even the static economy could not tremble the number of tourist’s departure from India.
Thus, India has emerged as the world’s fastest-growing outbound market and in absolute numbers, it is second only to China.
Whatever be the reason, leisure, business, a shopping trip, any global sports event or even meeting any relative living abroad, and Indians have been increasingly traveling.
Indians offer such immense potential for future growth in outbound level.
According to the predictions of UNWTO, India will account for 50 million outbound tourists by 2020
Traditionally Thailand, Singapore, United States, and Malaysia are among the most preferred tourist’s destinations among Indian travelers, but there are other countries like Sri Lanka, Nepal, and China which are also preferred nowadays.
The increasing in the tourism is mainly due to decrease cost of international airfare and availability of affordable travel packages.
However, there are many challenges in outbound travel. In India, companies tend to specialize in either inbound or outbound, few do both successfully. The average Indian travel agent deals with customers who are extremely price sensitive and are inherent shoppers. Bargaining is a cultural trait.
Whereas there is also a feeling that the local agents have no right to make money. In general, agencies in India are not equipped or trained in charging fees.
Also, another hurdle for Indian outbound tourism market is the rupee depreciation that has become a very big hurdle for Indian outbound tourism. Destinations such as United States, Canada, London, France, Italy and Switzerland have seen a dip in bookings due to rupee depreciation.(input from agencies)(image: blog.raysoutdoors.com.au)