Indian outbound travellers will account for 22.5 million worldwide tourists in 2018, with reports from the United Nations World Tourism Organisation (UNWTO) estimating this figure will increase by 122 per cent to reach over 50 million by 2022.
This study reveals that Indian travellers are among the world’s highest spenders per overseas visit, with their spending expected to increase from US$23 billion in 2018 to US$45 billion by 2022.
The latest research by Colliers International, predicts about nine million Indians will travel to the Gulf Cooperation Council GCC by 2022, comprising 37 per cent of India’s total outbound travel market including leisure and MICE travellers. This increase over the coming five years will necessitate booking an additional 10.8 million hotel room nights, according to data published.
Despite recent weak Rupee exchange rates, which have seen the Rupee lose around 13 per cent of its value against the US dollar over the last year, the Indian outbound market has continued to grow undeterred, at an average annual growth rate of 10-12 per cent over the last seven years.