Contemporary times have witnessed a plethora of people travel around the world, be it any season or any month, and the stats are only expected to rise, with international arrivals growing from 25 million in the 1950s to 1.2 billion in 2016 and to 1.8 billion by 2030. Outshining the global economy for the sixth year in a continuous chain, the travel and tourism industry has proved how resilient it is to trivial factors for it like geopolitical uncertainty and economic volatility.
A META ANALYSIS
The aviation, travel and tourism industry accounts for 10% of global GDP and 10% of jobs all over the globe. The industry possesses the unique ability of driving growth rates to great heights, creating large scale unemployment, reducing poverty and fostering development and economic progress in the nation.
In the past few years, India has exponentially improved its travel and tourism quotient and competitiveness, leapfrogging from the 65th position in 2013 to 40th position as per the Travel & Tourism Competitiveness Report 2017.
THE CURRENT SCENARIO
Today, the nation stands to be one of the most rapidly growing aviation markets in the world, with the domestic demand of the nation crossing 100 million passengers. In addition to the better and cheaper connectivity, mobile devices have enabled the customization of services that are surely well ahead of what was previously possible which stands as a result of major improvements in the capacity to understand individual preferences and behaviours. They have also enabled the modern day travelers to have real-time access to information as well as to various necessary services.
FACTORS SHAPING THE FUTURE OF LEISURE TOURISM OF INDIA
With this, today, we have made an attempt to dive into the deeper and clearer intricacies of the FUTURE OF LEISURE TOURISM IN INDIA.
So, for all the travel startup entrepreneurs out there, we present to you a breakdown of what the future travel trends are projected to be and how the industry as a whole as well as your travel startup can buck up for a stormy yet full of opportunities year ahead.
BOOMING ARENAS FOR PROSPECTIVE TRAVELLERS AND TOURISTS
With the establishment of various setups like inexpensive dormitories, and hostels for travelers, several pocket-friendly low budget options have started sprouting up over the past few years in India.
BUDGET FRIENDLY SITUATIONS
Many of the levied taxes and several other expenses for moving around and touring in the country are relatively much lower as compared to the other foreign destinations having better GDPs, better per capita incomes and better living standards. Thus, the tourist spots in the nation also become all the more a much sought after choice for budget travellers from around the globe.
VISA ON ARRIVAL
The concept of Visa on arrival give a major boost to the travel and tourism industry as the visit of foreign visitors has been observed more in the recent years. Keeping in mind the developments and manifold benefits of this, this policy is soon to be applied to more than 100 other nations across the globe.
The major upsurge in the number of boutique hotels across the country has provided a platter of a multitude of staying and residential options for the tourists. These boutique hotels offer the solace and comfort at the same time, letting the visitors indulge more in their surroundings, thus promoting tourism.
EXPLORING NEW LANDS
Domestic as well as international tourists both are have shown a good deal of interest in exploring newer and lesser-known destinations of the country. Such spots hold enormous amount of potential for growth and development as major commercial and revenue earning tourist spots in the years to come.
THE EXPANDING HORIZONS
The horizons for the future of the Indian travel and tourism industry do look absolutely bright and amazing, with the latest trends prevailing. The real GDP growth for travel and tourism economy is expected to be 0.2 per cent in 2009 and is predicted to rise at an average of 7.7 per cent per annum in the next ten years.
Along with this the following few factors have been projected as playing an instrumental role in deciding the path for the future of the Indian Travel and Tourism Industry:
1. Revenue from the exports from international visitors and tourism goods are expected to generate 6.0 per cent of total exports (nearly $16.9 billion) in 2009 and expected to increase to US$ 51.4 billion in 2019.
2. Despite the short term and medium term impediment due to the global meltdown in years from 2008-2010, the revenues from tourism are expected to rise by 42 per cent from 2009 to 2019.
Thus, the future of the leisure travel in India indeed holds a vast potential for growth and opportunities, provided these are tapped by the Travel Startups at the right time, in the right place and through the right techniques!