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A buoyant economy, with increasing disposable incomes, is fuelling the growth in India's tourism industry. More Indians are travelling now than they have ever done in the past. A look at what the tourism industry can expect this summer.
The outsourcing backlash has made Indians as the most undesirable guests in many countries world around, but when it comes to tourism, it's a different story altogether. The floodgates have opened, the rush is on, and the world at large is opening its arms to welcome Indians as tourists. It's the great Indian escape, and getting greater by every year. Quite simply, Indians are travelling overseas like never before. According to industry estimates, the number of foreign visits by Indian nationals would increase this year in comparison with 7.5 million in 2005 and over 6.2 million in 2004.And they're travelling in all segments-as part of package tours, in small groups and as individual travellers. The outbound tourism has suddenly opened up as a big bang business. Surveys show that almost 40 per cent of Indians travelling overseas prefer to try out new destinations. This is what's keeping the market on the upswing. Where as once most traffic was to England, Singapore, and Dubai, today the preferred destinations are relatively newer ones like China, Cyprus, South Africa, New Zealand, Dubai and Turkey. Business travel has also shown an upsurge over the past five to six years with even junior level information technology professionals sent on projects with client companies abroad. This has encouraged them travel later on leisure, perhaps with families. Companies offering packages are making big efforts to explain that they provide a full and complete holiday experience to their clients. This includes catering to special dietary needs, health needs, and even religious needs as required. They're also providing bonuses like free stays in added destinations as part of an overall package. India is now ranked among the world's top ten markets for incentive traffic. Indian incentive tours are increasing at the rate of 15 per cent annually, and projected figures indicate this growth rate will continue till the year 2006. On an average, Indian incentive visitors end up spending about 10 per cent more than others. The great strength of the incentive market lies in the healthy, sometimes giddy, recent growth of several Indian and multinational companies. Three factors have contributed to this boom in Indian outbound travel. Increased foreign exchange availability; growth of corporate houses, and the rise in discretionary incomes of the middle class. Whereas, until a few years ago, Indians travelling overseas were allowed a foreign exchange amount of just $500 (Rs 22,500) every three years, today the quota's been dramatically increased to the point where individual leisure travellers can purchase up to $2,500 (Rs 112,500) per year, and business travellers even more depending on certain details like turnover, category etc. Now, the world is at our doorstep to tap this ever-growing market. The market potential can be seen from the fact that while five years ago there were just a handful of foreign tourist boards operating in India, today some 15 countries are active here, and many more are lining up to display their countries' attractions to Indian travellers. It isn't just the numbers, but also the average spending abroad that's made Indian travellers such a world force. Almost half the total number now spends over $50 (Rs 2,250) per day, up from $40 (Rs 1,800) in the past. It's been established that Indians are the world's biggest overseas shoppers followed by the Brazilians. Indians' spending break-up is about 20 per cent on shopping, 15 per cent on dining, and 25 per cent on conventional sightseeing.
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