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Business News/ Industry / Over 40% of Indians to increase spending on travel in 2024: Report
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Over 40% of Indians to increase spending on travel in 2024: Report

About 48% of Indians plan on increasing their travel budget in 2024, and 60% are set to travel to international destinations this year, revealed a report by ACKO and YouGov Travel.

The data is from a survey done with 1000 respondents from seven major Indian cities between age group of 24 to 45 years old.Premium
The data is from a survey done with 1000 respondents from seven major Indian cities between age group of 24 to 45 years old.

Ahead of New Year's Eve and Christmas Eve, about 48 per cent of Indians plan on increasing their travel budget in 2024, according to a report by ACKO in collaboration with YouGov Travel. About 60 per cent of Indians are set to travel to international destinations this year.

The data is from a survey done with 1,000 respondents from seven major Indian cities between the age group of 24 to 45 years old.

Also Read | Travel sector outlook for 2024 is a mixed bag

The report revealed that around "48% of Indians will be allocating an increased budget for their travel in the coming year and 37% will be increasing the duration of the trip, to embark on extraordinary adventures and make the most of every opportunity."

The report findings also pointed towards the increased awareness of travel insurance among Indians. About 67 per cent of Indians believe travel insurance is mandatory, the report added.

Also Read | Visa-free travel best way to draw tourists: Booking Holdings CEO

Brijesh Unnithan, SVP, Embedded Insurance, said, "travellers are more concerned about convenience and flexibility, and they are ready to spend more on the experience. It is great to see that Indian travellers understand the importance of travel insurance and know what to expect from a policy."

What has been the travel trend so far?

Additionally, according to data released by Cleartrip on December 1, the July to August period, usually seen as a dull phase for the travel sector witnessed increased demands for flights from solo women travellers.

The demand went up by six percent as compared to the April to June period, according to the latest travel trends report. Additionally, Bangkok emerged as the preferred destination for women travellers.

Approximately 71 per cent of respondents were willing to spend 1–6 lakh on their international trips, while domestic travellers would like to spend up to 1 lakh, as per the ACKO report.

Where are Indians travelling?

According to the ACKO report, travellers' preferred international destinations, including Dubai, ranked first, followed by the Maldives, Singapore, Switzerland, and Bali. Goa ranked first among the preferred domestic travel destinations, followed by Himachal Pradesh, Kerala, Uttarakhand, and Rajasthan.

Additionally, the popular destinations among solo women were Gurugram, Goa and Chandigarh, according to the Cleartrip report.

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Published: 04 Dec 2023, 05:14 PM IST
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