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Photo: Mint
Photo: Mint

Broadening the travel horizons

The online tourism industry grew steadily between 2009 and 2013, with the biggest spurt in growth coming in 2015, when it jumped from $7.3 billion to $12.5 billion

Tourism has been increasing its contribution to India’s gross domestic product (GDP), doubling its share in 10 years to $38 billion in 2014. The ‘e-Travel Marketing India’ report by Octane Research suggests that this will reach $71 billion by 2024.

The online tourism industry grew steadily between 2009 and 2013, with the biggest spurt in growth coming in 2015, when it jumped from $7.3 billion to $12.5 billion.

The compound annual growth rate (CAGR) for online travel sales (2011-2016) has been the highest in India, followed by South Korea and Brazil. Though India and China are the two fastest growing economies of the world, India’s online travel sales are almost double that of China.

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