your password has been reset successfully, Please login again.

Indian travel market to grow at 11-12%, as per Google, BCG report

India's travel market to reach at $48 billion by 2020, as per Google, BCG report.
BY BEx Bureau
BusinessEx
Jul 03, 2017

Google and BCG report states that Indian Travel Market is projected to grow at 11-12 per cent and will bring valuation of the market more than $48 billion by FY2020. In this industry it is expected that air travel will develop at 15 per cent and the valuation by 2020 will be around $30 billion.

Abheek Singhi, Senior Partner and Asia Pacific Head of Consumer Practice, BCG said, Travel is a high investment, both monetary and emotional category. Technology has led to a democratisation of travel through better information and price discovery and shall lead to 11-11.5 per cent growth in years ahead. The question is how to address the 17 different touch points of three minutes each over 49 days. The imperative for players is to use technology and advanced analytics capability to understand individual micro journeys and offer personalised and curate travel solutions.

The report further adds that in India Hotels will also nurture at 13 per cent growth rate and the value will raise is up to $13 billion by 2020 and railways growth will remain constant by 2020. Also with the rise in digital payments the online hotel segment is also projected to penetrate at 31 per cent and vale of $4 billion by 2020 with CAGR of 25 per cent.

Vikas Agnihotri, Industry Director, Google India, said, Indias domestic travel market is on an acceleration path. One of the key findings of the report is that by 2020, one in three hotel rooms will be booked online a clear indicator of the growing importance of digital in travel research, planning, and booking. There are several actionable insights for domestic online travel players including the role of mobile and the level of curation and personalisation that Indian travelers are looking for.

Please add your Comment
SIMILAR News
April 18, 2019
The acquisition will incorporate an advanced cash consideration of INR 32 crore (ZAR 65 million) ...More
By Jaspreet Kaur
April 18, 2019
The online footwear company said that it will be using the garnered capital to hire experienced prof ...More
By Jaspreet Kaur
April 17, 2019
APL Apollo, an Indian steel manufacturer, has confirmed reports of acquiring a manufacturing unit of ...More
By Jaspreet Kaur
April 17, 2019
TA Associates, an American private equity firm has obtained a small portion of shares in the Indian ...More
By Jaspreet Kaur
April 16, 2019
The California-based Wibmo will operate as a wholly owned subsidiary of PayU ...More
By Jaspreet Kaur
April 16, 2019
CureFit is actively acquiring companies to expand its business for almost a year now ...More
By Jaspreet Kaur
April 12, 2019
The microcredit company, Sindhuja Microcredit, is the new generation financing firm which caters fin ...More
By Jaspreet Kaur
April 12, 2019
By initiating the wellness company, Deish and Mohammed aim to become a one-step solution of women hy ...More
By Jaspreet Kaur
April 11, 2019
International Finance Corporation (IFC), a sister company of World Bank, has decided to endow money ...More
By Jaspreet Kaur
April 11, 2019
The Indian IT giant, Tech Mahindra will acquire 18.1 per cent stakes in Vitaran Electronics and Info ...More
By Jaspreet Kaur
April 10, 2019
The online investment market is a forthcoming theme in fintech (financial technology) sector ...More
By Jaspreet Kaur
April 10, 2019
Owing to the cut-throat competition prevailing in the e-commerce sector, the small etailer, Shopclue ...More
By Jaspreet Kaur