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Market Report on Travel and Tourism in India to 2020

  • Date Submitted: 02/01/2016 10:50 PM
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Market reports on India presents the latest report on “Market Report on Travel and Tourism in India to 2020” http://www.marketreportsonindia.com/service-industry-market-research-reports-2081/travel-and-tourism-in-india-to-2018.html This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

02nd Feb 2016, – Navi Mumbai, India: Market reports on India presents the latest report on “Market Report on Travel and Tourism in India to 2020”.   The report provides a detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others

Summary

The expanding economy reflected the increased disposable income of the Indian population, encouraging them to take more trips. The trend is expected to continue over the coming years (2016 - 2020). Tamil Nadu and Uttar Pradesh maintained their first and second rank respectively in terms of domestic tourist visits in 2014. Inbound tourist volume grew at a CAGR of 6.8% during 2010 - 2015, and the governments visa friendly policy will spur the growth of inbound tourism.

Key Findings

- The Indian travel and tourism sector is flourishing. Domestic trips grew by 9.7% in 2015, while expenditure increased by 7.6%. The rising middle class and increasing disposable incomes continued to support the growth of domestic and outbound tourism. Outbound trips totaled 19.9 million in 2015, up by 8.7%. Inbound trips grew at a CAGR of 6.8% during the historic period (2010 - 2015). The US is the largest source market for India and the continued depreciation of the Indian currency against the US$ in recent years has supported the growth of inbound tourism. The Indian Rupee fell against the US$ at a CAGR of -6.5% during 2010 - 2015 and trips grew by. Trips from Russia, another key source market, slowed from 46% in 2013 to 4.1% in 2014...

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