India’s Travel & Tourism market thrives on increasing disposable incomes, middle-class aspirations, digital innovation, and government initiatives to boost infrastructure and tourism.
TechSci Research’s report, “India Travel & Tourism Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029,” the market reached USD 18.92 billion in 2023, projected to grow at a 13.45% CAGR from 2025 to 2029. Known for its rich history, diverse landscapes, and cultural allure, India has perennially attracted global travelers.
With historical roots dating back to ancient trade routes and colonial eras, India’s tourism offerings, including iconic sites like the Taj Mahal and Jaipur’s palaces, continue to captivate visitors seeking to explore its storied past.
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India’s travel and tourism sector, integral to its economy, has witnessed a transformative journey. From boosting GDP to creating employment opportunities, both domestic and international tourism have played pivotal roles in India’s growth story.
Pre-pandemic, India welcomed millions of tourists annually, drawn by its diverse landscapes and rich cultural heritage. However, the onset of COVID-19 brought unprecedented challenges, leading to a sharp decline in tourism activity.
Despite setbacks, the industry has shown resilience, pivoting towards domestic tourism as travel restrictions ease. Digitalization has accelerated, with online bookings and contactless check-ins becoming commonplace to ensure safety.
Sustainability is gaining traction, with travelers seeking eco-friendly experiences that contribute positively to local communities. India’s cultural and heritage sites remain major attractions, offering insights into its illustrious past.
Adventure tourism, medical tourism, and historical circuits like the Golden Triangle continue to entice visitors. Yet, challenges persist, from global events impacting travel to the need for infrastructure development and skilled workforce.
As the industry evolves, coordinated efforts are crucial, with the government and private sector collaborating to promote tourism sustainably. The India Travel & Tourism market segments into domestic, inbound, and outbound categories, with the domestic sector holding a significant share.
Region-wise, the North region stands out, boasting historical gems like the Taj Mahal and Jaipur’s forts, attracting history buffs and culture enthusiasts worldwide.
Major companies operating in India Travel & Tourism market are:
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“India’s Travel & Tourism sector, pivotal to the nation’s economy and cultural fabric, exhibits resilience despite challenges like the COVID-19 pandemic,” noted Mr. Karan Chechi, Research Director at TechSci Research.
The report, “India Travel & Tourism Market By Type, Service Offering, Purpose of Visit, Booking Type, Region, Competition Forecast & Opportunities, 2019-2029F,” evaluates the sector’s growth potential, offering insights into size, structure, and future trends. It aims to provide advanced market intelligence for informed investment decisions, identifying emerging trends, drivers, challenges, and opportunities in India’s travel & tourism market.
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