Gen Z To Help India's Travel Spending Expand 9% A Year
The travel market in India has been on the rise in recent years. In April 2024, the travel website MakeMyTrip published a report on the preferences of Indian tourists planning their next adventures, both domestically and internationally. Drawing data from over 100 million active users, the agency's inaugural "India Travel Trends Report" revealed a 25 per cent increase in the number of people taking more than three trips per year in 2023 compared to 2019. According to reports, summer travel this year went up by 40 per cent. According to a new McKinsey report released on Monday, there's even more reason to be optimistic about India's travel industry. The report indicates that the annual growth in travel spending in the country is projected to reach approximately 9 per cent, driven by a new generation of travellers benefiting from India's robust GDP growth of over 6 per cent per year.