An Austrian platform for business and corporate responsibility known as corporAID, has published a perspective on the Asian travel boom. Vivek Neb, Managing Director at Grail Insights, comments extensively on the Indian travel market. It has been noted that India and China are being increasingly compared when it comes to outbound travel. While China holds a strong market share of Asian tourism, India is the next emerging nation in the race. However, the markets can’t be easily equated. Neb sees a disparity in the tourism spending of both the nations. He explains that “the size of the middle class of both the markets is the primary reason for the disparity. But since India's foreign travel market grows by ten to twelve percent annually, it will soon be about 50 million trips a year. In the coming decade, India should offer tourism professionals similar opportunities to China.” Research from Grail Insights reveals that Chinese travelers take nearly 150 million annual outbound trips generating over $277 billion in spending. Indians clock around 30 million trips in a year with a spend of $25.4 billion. But it is pivotal to note that China had about 10 million outbound trips at the beginning of this millennium and India could pose a similar opportunity in the coming decade.
Grail Insights is a strategic insights consultancy that supports most verticals in the tourism value chain. Find your path forward in the evolving travel and tourism industry. Contact Vivek Neb at email@example.com to learn more.