A booming festive season forecasted for Indian travel industry by RateGain report

8 Sep 2022 , 11:26 AM

RateGain Travel Technologies, a worldwide SaaS supplier for travel and hospitality, has revealed forward-looking data centered on the demand for travel over the forthcoming holiday season in its newest edition of the PULSE report.

With India’s economy expanding at its sharpest rate in the April-June quarter and pricing limitations on airline tickets lifted, demand for travel remains robust, outlined the report.

Instead of focusing on worldwide patterns from the previous month, the newest version of the PULSE study focuses on the next three months of travel demand to and from India.

The PULSE study has previously forecast a jump in travel demand owing to pent-up demand over the summer of 2022, and while reservations internationally are cooling as expected, inbound travel demand in India continues to rise over the next three months.

The research draws data from RateGain’s recently announced Airline Passengers’ Forecast module of Demand AI, which uses artificial intelligence to deliver an accurate knowledge of the actual number of travellers, source market mix, and demand from these markets over the next 90 days.

Inbound arrivals in Delhi are predicted to be 17% higher than in 2019, and 4% higher in Mumbai, with the largest rise expected around Diwali.

Outbound travel demand from India for the next 60-90 days is clear proof, with demand to locations in Australia experiencing a high increase in October and November, corresponding with the impending ICC T20 World Cup, with arrivals to Melbourne jumping by over 50% in November.

With no capacity constraints this year, Delhi is seeing a 15% boost in travel demand before Diwali, which will continue to rise after Diwali owing to the forthcoming wedding season.

Tourists to Australia have increased by 15% on average, with visitors from Europe predicted to climb by 10%. Visitors from Middle Eastern cities such as Dubai, Doha, and Abu Dhabi are expected to climb by 10% in September.

At around 11.31 AM, Rategain Travel was trading at Rs293.05 up by Rs3 or 1.03% from its previous closing of Rs290.05 on the BSE. The scrip opened at Rs291.60 and touched intraday high and low of Rs296.50 and Rs291.60 respectively.

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