| India’s economic growth has been a significant driver of its rapidly expanding outbound tourism. According to the Ministry of Statistics and Programme Implementation (MoSPI), India’s per capita Net National Income (NNI) at current prices increased from ₹86,054 in the financial year 2020-21 to ₹98,118 in 2022-23, reflecting an annual growth rate of approximately 6.9%. This increase in disposable income has led to a growing middle class that is eager to explore international destinations. As a result, more Indians can afford outbound travel, which reflects a shift in consumer behavior from domestic to global exploration. Between 2014 and 2019, outbound departures grew at a compound annual growth rate (CAGR) of 7.98%, according to the Ministry of Tourism (MoT) of India. This highlights a strong correlation between economic expansion and demand for travel. |
The change in consumer behavior aligns with the trajectory of China’s outbound travel boom in the early 2000s. If India continues on this path, annualoutbound trips could reach 80 to 90 millionby 2040, positioning the country as one of the world’s largest source markets for international travel
