On World Tourism Day, wouldn’t it be interesting to know how Indians travel, how much they spend and which age group is traveling more?
According to SOTC India Holiday Report 2019, Indians are increasingly opting for multiple short breaks rather than the traditional single long annual vacation.
In 2015, more than 75 percent respondents had taken a holiday for seven to 10 days as compared to three to six days, in 2019.
This indicates a trend of higher frequency and shorter duration holidays.
Over 1,100 respondents belonging to four distinct age groups-- 25 years and below, 26-35 years, 36-55 years and 56 years and above were surveyed for the report.
The report also pointed out that international holidays have become a mandatory inclusion in the annual travel plan.
In fact, all age groups book at least one international holiday a year.
Domestic holidays have shown a marked growth with 92 percent respondents taking a domestic holiday compared to 80 percent in 2015.
Destinations such as Madurai, Rameshwaram, Dwarka, Shirdi, Pushkar, Mathura, Ujjain and Varanasi have seen significant growth in 2019.
How much are Indian travelers spending?
According to the report, 93 percent respondents in under 25 years spend less than one lakh per annum on holiday travel.
Most of the respondents under the age of 25 years are budget conscious and spend less than Rs 50,000 in a year on their holiday
Over 50 percent of the respondents in age groups less than 25-55 years spend only up to one lakh per annum.
Indian travelers have also begun viewing EMI and loans as an option to fund their holidays. An average of four percent of respondents across all age groups use such options.
And how are Indians paying for these travel?
The report found out that over 80 percent respondents use credit or debit card for travel bookings and on-ground expenses. And the discounts and cash backs are the key driver.
But has there been any slowdown impact on the travel industry?
Vishal Suri, Managing Director, SOTC, believes that travel continues to grow.
“What we are noticing is people are readjusting around their budget and how much they want to spend on their holidays. There is a trend towards shorter duration trips and shorter haul trips. For lesser number of days,” he told Moneycontrol.
He said that during the festive period they are seeing bookings which are ahead of last year.
Talking about the GenZ Indians, Suri said that these are travelers that are younger than 25 years. "They are significant and relevant for the whole travel industry. They have an attractive growth prospective and they are 25 percent of our entire portfolio."
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