India’s travel sector has seen significant growth in the first half of 2024, with Trevolution Group reporting a 46% increase in both outbound and inbound tourism. This surge is not just a recovery from the pandemic but also reflects a shift in Indian travelers’ habits, with trans-Pacific flights experiencing a particularly high demand driven by increased connectivity and a growing middle-class population eager to explore the world. Additionally, there has been a notable rise in visiting friends and relatives (VFR) travel, showcasing the deep ties of the Indian diaspora.
Trevolution Group, which sold over 54,000 airline tickets to and from India in the first half of 2024, has witnessed a 68% increase in outbound tourism sales and a 37% growth in inbound tourism, positioning India as a crucial market in the travel industry. Indian travelers are increasingly seeking value and flexibility in their travel plans, reflected in the demand for both round-trip and one-way tickets, as well as a rise in last-minute bookings. The decreasing airfares, particularly to India, are making international travel more accessible to a broader segment of the population.
The state of the travel industry in India remains optimistic, with companies like Trevolution Group anticipating continued growth in air travel. Despite a valuation drop to $2.4 billion from its peak of $10 billion in 2019, hospitality company Oyo has raised $175 million in its latest funding round to support its growth and global expansion plans. Air India Express has added six new routes to its domestic network, expanding its reach to over 30 domestic destinations, while Radisson Hotel Group has signed a 100-room hotel in Chennai under its Park Inn by Radisson brand, marking its debut in the city.
Goa’s tourism minister has called for enhanced international connectivity to the coastal state, emphasizing the need to attract more tourists by improving direct flights with major global cities. The state aims to expand its image beyond beaches and parties to attract remote workers and digital nomads, with plans to roll out high-speed internet and create coworking spaces. Additionally, corporate travel startup Ziptrrip has raised $238,000 in funding, showcasing the potential in the corporate travel and expense management sector. The company plans to use the funding for market expansion, hiring, and product innovation, building on its success with over 250 corporate clients and achieving profitability earlier this year.
