Wednesday, September 25, 2024 A recent report by Deloitte revealed that in 2023, airlines and hotels were dominant players, capturing 70% of India’s booming $53 billion travel industry. This highlights the significant role these sectors play in shaping the country’s travel market. The report also emphasized that the remaining 30% of the market share is attributed to railways and other transportation services, underscoring a clear divide in consumer preferences within India’s travel landscape.
Corporate travel, valued at an impressive $10.6 billion, constitutes 20% of the total travel market. Within this segment, airlines and hotels have a strong presence, contributing a combined 85% to its overall value.
This statistic further solidifies their influence on the travel industry, particularly in corporate settings where convenience and reliability are key. The report points to the increasing preference for air travel and hotel stays among both corporate and leisure travelers. The growing popularity of these services signals a shift toward more premium and efficient travel solutions, reflecting broader trends in the way Indians approach travel.
As disposable incomes rise and time becomes a critical factor, airlines and hotels continue to cater to evolving demands for seamless travel experiences. Overall, the Deloitte report sheds light on the ever-growing dominance of airlines and hotels in India’s travel industry. Their contribution not only to the leisure sector but als.