TRAVEL AND TOURISM
Indians up their game on foreign vacations with luxury hotels, formula 1 drives and epic train rides
Indians are driving luxury travel in the Asia-Pacific region, with 89% of them planning to spend more in the next 12 months. This is according to a report released Monday by Marriott International on high networth travellers in the Asia Pacific.
Spend on the world like never before
Indians drive outbound remittances, preferring foreign airlines due to underdeveloped domestic industry. Improving connectivity and tourism infrastructure is vital to boost domestic tourism. Developing skills and promoting gender-neutral employment are crucial for growth in the travel and hospitality sector.
Why it feels like everyone in the world is heading to Japan right now
Tourism in Japan is booming like never before, with a historic collapse of the yen making travel cheaper. Over 14.5 million visitors arrived in the first five months of 2024, a 70% increase from last year. The weak yen has made everything from dining to hotel stays more affordable.
This European country will be the world's most visited destination by 2040
The tourism industry is poised for significant changes by 2040, with Spain projected to surpass France as the world's top destination. A study by Google and Deloitte forecasts emerging middle-class travelers from markets like China and India will boost Spain's ascent, due to its cultural richness, landscape diversity, and tourism investment.
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Expect improvement in occupancy vis-a-vis the previous year from Q2: Patanjali G Keswani, Lemon Tree Hotels
While you can say that in spite of heat it was decent performance, I am looking at trend lines and I expect the catch up will happen really from Q2 when there will be improvements vis-a-vis the previous year in occupancy.
Going forward, expect good growth from Aadifidelis Solutions: Shikhar Aggarwal, BLS International
Shikhar Aggarwal, Joint MD, BLS International Services talks about inclusion in Nifty tourism index, synergies from buying stake in Aadifidelis Solutions and more. Aggarwal also discusses the major contract renewals which are expected in the next six to nine months. He also says that in one, one-and-a-half years, multiple contracts are expected from European and North American markets
Is buying just hotel stocks better or a collection of stocks which gain from travel hungry Indians? 17 stocks from the whole tourism ecosystem
There can be a debate on whether, after the run up that hotel stocks saw in the last three years, are they cheap or not, and whether one should buy them now. But when it comes to tourism and the possibility that it will grow at a much faster rate, there is little room for debate. Now the question is if one buys only one set of stocks, for example hotel stocks, they come with their own plus and minus, right from the business risk of that industry to the fact that in tourism business, there are many segments, so there is a premium segment, there are travelers who travels by train and stay in medium size hotel which are not even listed. But then he has spent money in booking his ticket which has been captured on a railways ticketing platform. So, why not have that railway ticketing platform in a small portion of the portfolio.
Top five countries where you’ll pay the most and least for public transport
Public transport is vital for tourists as it provides an affordable, efficient way to explore cities, reach attractions, and experience local life. It simplifies navigation, reduces travel costs, and minimizes environmental impact, enhancing the overall travel experience. Here are the top 5 most expensive public transport systems
Tour de Fabulous: How India’s affluent are seeking extraordinary travel experiences
Personalised travel include things from watching a tuna auction in Tokyo to spending a night at the Palace of Versailles. This trend has led to the rise of luxury travel agencies. A community of about 570 travel agencies and concierges that curate high-end, bespoke journeys has come up.
Space Elevator to be ready by 2050. Press a button and you are in space. Details here
A Japanese company is developing a space elevator to take tourists into space in an elevator at the press of a button. This project will be ready by 2050.
Gen Z to help India's travel spending expand 9% a year: McKinsey Report
A new McKinsey report predicts India's travel spending to grow at 9% annually driven by strong GDP growth. Domestic air passenger traffic is set to double by 2030, boosting the domestic travel market to potentially become the world's fourth largest.
Travel demand to outpace supply for next decade: Yezdi Nagporewalla
But you will always have a mismatch between demand and supply and it is largely because the hospitality sector is interdependent on other aspects like infrastructure, like hygiene, like safety, and those aspects. So, the entire ecosystem actually has to fall into play to make it comparable with developed places.
Moscow bets on visa-free deal to attract more Indians
The new visa free group travel agreement being worked out between India and Russia should boost the tourist numbers to Moscow from India by at least 30%, said Evgeny Kozlov, first deputy head of the office of the mayor and the government of Moscow in an interview to ET. Kozlov, who is also the chairman of Moscow City Tourism Committee, said Russian federal officials are also working on a project to enable virtual cards for Indian travellers while they are in India before coming to Russia.
Domestic travel, tourism sector ready to capitalise on upcycle: IHCL MD Puneet Chhatwal
Indian Hotels Company Ltd Managing Director and CEO Puneet Chhatwal discusses the company's plans to capitalize on opportunities in the travel and tourism sector, targeting Tier II and Tier III markets and foreign tourist arrivals.
You Can Enjoy This 5-Day Cruise For Just Rs 5,000. Thanks To Indian Govt
The MV SINDHU, a modern marvel built in the Kochi Shipyard, offers an unforgettable cruise experience, combining traditional craftsmanship with cutting-edge technology. Equipped with Kawasaki engines imported from Japan and designed to meet both Indian and international safety standards, the MV SINDHU ensures a smooth and safe journey. Its maiden voyage to Kolkata marked the beginning of an exciting new era in Indian cruising, promising an experience that travellers on-board will never forget. You can book your trip on andaman.gov.in.
Hiring surge in travel and tourism: What it means for mid-career and senior roles
India's travel and tourism sector has rebounded post-pandemic, contributing Rs 16.5 trillion to the economy and creating 39 million jobs by 2020. The sector is also witnessing a spike in demand for AI specialists and data operations in the hospitality industry.
India's global travel & tourism index rank up at 39th: WEF index
India climbed to the 39th position on the World Economic Forum's Travel & Tourism Development Index 2024, reflecting the resurgence of global tourism post-pandemic. The US leads the list, while India ranks highest in South Asia and among lower-middle-income economies. India boasts competitive infrastructure and resources, driving travel demand sustainability.
Country depends on tourism; 60 pc people come from India: Sri Lankan MP V Radhakrishnan
Sri Lankan MP V Radhakrishnan said that tourism is a major reason for the two nations' positive ties. Sri Lanka is reliant on travel. About 60% of the population is Indian. Sri Lanka is now experiencing economic growth. In the future, the two nations ought to collaborate, particularly in the travel and tourist sector."
Visa free group travel between Russia and India expected by the end of this year: Minister
Russia and India are set to enhance tourism ties through visa-free group tourist exchanges. Consultations for a bilateral agreement will start in June, aiming for completion by year-end. Russia plans to follow successful models with China and Iran, fostering greater tourism cooperation between nations.
More Indians are travelling than ever before: Mastercard Economics Institute on travel in 2024
In 2024, more Indians are traveling internationally than ever before, driven by a growing middle class and expanded route capacity, according to the Mastercard Economics Institute's report. Domestic air travel surged 21% above 2019 levels, while international travel rose by 4%. Top destinations for Indian travelers this summer include Amsterdam, Singapore, London, Frankfurt, and Melbourne. The report highlights a shift in Indian travel habits towards exploration and discovery, with increased visits to Japan, Vietnam, and the United States.
Hotels up hiring game: About 100,000 jobs likely to be created in 12-18 months
Hotels across segments are ramping up their workforce as they are adding more rooms and entering new markets amid a strong pickup in business and leisure travel. The jobs they are recruiting for are a mix of permanent, temporary and gig, said Balasubramanian A, vice president and head of consumer, hospitality and ecommerce at TeamLease.
India in talks with like-minded countries to regulate tourism in Antarctica
India is collaborating with like-minded nations to advocate for regulated tourism in Antarctica, recognizing the threat posed by an increasing number of tourists to the continent's delicate ecology. The issue of regulating Antarctic tourism will be discussed at the Antarctic Treaty Consultative Meeting and the Committee for Environmental Protection meeting in Kochi from May 20 to May 30. The Ministry of Earth Sciences, hosting these meetings, aims to facilitate visits to Indian research stations in Antarctica for the general public.
Family trips over solo trips, holiday coupons as wedding shagun: MakeMyTrip survey reveals Indians' travel habits
Indian travelers are redefining domestic tourism and asserting a significant presence in international travel markets, according to MakeMyTrip's "India Travel Trends Report". The number of Indians embarking on more than three trips per year surged by 25% in 2023 compared to 2019, with a notable increase of 46% in spontaneous bookings. Domestic travel is increasingly embracing spiritual journeys, with searches for destinations featuring or around religious spots growing by 97% in the last two years.
MakeMyTrip and Singapore Tourism Board ink MoU to spark Indian wanderlust
MakeMyTrip and Singapore Tourism Board have signed an MoU to boost Singapore as a top destination for Indian travelers. Collaborative efforts to enhance inbound travel through tailored holiday packages and marketing campaigns. Singapore sees significant interest from Indian tourists, aiming to attract more visitors by expanding infrastructure and improving amenities.
Travel firms ramp up hiring amidst governmental push on tourism
Indian travel companies are aggressively hiring mid-senior talent with AI and automation skills from hospitality and tech sectors, offering lucrative compensation packages. Recruitment firms like Michael Page India, Fidius Advisory, and Claricent Partners witness a surge in mandates.
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