India's overseas travel would exceed USD 42 billion by 2024, according to a report

8 Aug 2022 , 08:33 AM

The paper, “Outbound Travel and Tourism – An Opportunity Untapped,” by Nangia Andersen LLP in collaboration with FICCI, examines the developing Indian travel market and lays out a plan for giving Indian visitors and travellers more for their money.

The government could consider measures like boosting direct connections to well-liked and up-and-coming locations, allowing foreign cruise ships to operate in Indian waters, as well as taking concerted and coordinated efforts on numerous fronts to boost the outbound tourism market, the report said. This would facilitate ease of doing business and promote the interests of Indian firms dealing in outbound travel.

Head of Government and Public Sector Advisory at Nangia Andersen LLP According to Suraj Nangia, Indian outbound travel would top USD 42 billion by 2024.

According to the analysis, allowing international cruise ships to call at Indian locations will promote both inbound and outbound travel and boost earnings for Indian ports.

Indians spent over USD 12.6 billion on international travel in 2021 compared to USD 22.9 billion in 2019. The report said that while the epidemic may have contributed to the decline in spending, these numbers highlight the enormous value that can be gained from Indian outbound travellers.