The Indian Tourism and Travel is forecast to grow at a CAGR of around 7.23% during 2016-2021, on account of increasing trend of medical, wellness and adventure tourism in the country and rising number of online bookings due to growing smartphone and internet penetration. Additionally, Government of India has also been focusing on the launch of several marketing and branding initiatives such as Incredible India! and Athiti Devo Bhava to promote Indian Tourism worldwide.Increasing domestic and international tourist footfall, and introduction of e-tourist visas are anticipated to boost growth in Indian Tourism market during the forecast period. Rising demand for Indian travel & tourism coupled with entry of new players in the market is leading to a stiff competition and this is projected to boost growth in Indian Tourism market.
Further, government of India has realized the country’s potential in travel & tourism industry and has taken several steps to make India a global tourism hub. Moreover, increasing trend of comparative pricing and online bookings is anticipated to fuel growth in India travel & tourism market through 2021.Changing lifestyles, increasing disposable income levels, rising urbanization and growing fleet of low cost airline carriers are also anticipated to augur well for the growth of travel and Indian Tourism in the coming years.
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