India is considered to be the world fastest growing outbound market. Indians are crisscrossing the globe, on business visits, family vacations and short holidays. According to reports from World Tourism Organization ( UNWTO ), the Indian outbound market grew from 16 million travelers in 2013 to over 25 million in 2017. In fact the average annual growth rate has accelerated since 2004 and currently stands at between 15-18 %. The UNWTO forecasts show that Indians will account for 50 million outbound tourists by 2020. Moreover, according to Research & Markets 2007 has predicted that total outbound spend by Indians will touch USD 45 billion by 2022.
It is estimated that there are 28 million Indians who hold a valid passport clearly emphasizing the potential of the Indian Outbound market. The primary source markets are the western & Northern region which account for 65 % of the Indian Outbound market followed by South ( 25% )and East ( 10% ). According to Pacific Asia Travel Association ( PATA ), 40% of all outbound trips by Indians are for business purposes, while leisure, visiting friends and relatives (VFR) and other reasons each account for 60% of outbound trips from India.
According to the travel trade, international leisure travelers belong to the 25-65 years age group, a larger proportion being males ( 65% ) than females ( 35% ). They are well educated and belong to the upper socio-economic strata of society. A majority of travelers are married ( 75% ) and have children living in the household. Two-thirds of leisure travelers tend to holiday abroad with family.
The peak travel months are from April to June, which coincides with the school holidays, which lasts for 12 weeks. This is the time families usually travel. We also have a mini peak during the month of October – November when schools are closed for three weeks for the Hindu festival of Diwali. From the months of October – February, is also wedding season and so the time for honeymoon travel. The months of July – September are traditionally low season for the Indian Outbound market as it coincides with the monsoons.