In the first three months of 2024, the number of international and domestic passengers passing through Indian airports reached 97 million.
 "How Indians travel and spend their time: Top summer destinations in Amsterdam and London")
holiday plans.Image: iStockSunaina Chadha New Delhi
India's wanderlust will reach new heights in 2024, according to Mastercard Economic Research's Travel Trends 2024: Breaking the Limits report. The report shows that air travel is rapidly increasing, with a staggering 97 million passengers (domestic and international combined) using Indian airports in the first quarter (January to March 2024) alone. It highlights that. This number exceeds the total number of annual travelers just 10 years ago.
The report further details India's robust domestic travel market, with domestic tourist numbers in March 2024 exceeding pre-pandemic levels by 21% compared to the same month in 2019. There are also positive trends in international travel, with a 4% increase in March 2024 compared to the previous year. 2019.
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According to the report, Amsterdam will be the top five destinations visited by Indian travelers this summer (June-August 2024), followed by Singapore, London, Frankfurt and Melbourne, based on changes in flight booking share. It becomes.
There is a growing interest in exploring new destinations beyond traditional tourist attractions. This data reveals a significant increase in the number of visitors to certain countries.
Japan: 53% increase in Indian travelers compared to 2019. Vietnam: 248% increase in Indian travelers compared to 2019. United States: Significant 59% increase in Indian travelers compared to 2019.
About 50,000 Indian tourists have visited Japan so far this year. For reference, just 10 years ago, it would have taken nearly a full year for Indian travelers to Japan to reach this level.
Flights from India to Vietnam are even better. By March 2024, passenger numbers had increased by 248% compared to the same month in 2019.
Passenger transport across India is also witnessing various interesting trends. Regionally, Chennai just surpassed its 2019 level in total passenger numbers in March 2024, which is an important milestone in travel recovery. In Bangalore, domestic passenger traffic has steadily exceeded 2019 levels over the past 12 months, partly due to employees returning to offices and a large number of hospitality workers in the city. This is the cause.
“Consumers in Asia Pacific have a strong desire and drive to travel, ensuring they get the best value and unforgettable experiences when they travel,” said David Mann, Chief Economist for Asia Pacific at Mastercard. “We're becoming increasingly adept at doing things like that.” For tourism authorities, retailers, hospitality and the food and beverage industry, the bottom line is that in today's economy, exchange rates and spending power are key factors when planning travelers' travel plans. . Businesses targeting tourism revenue will need to review their current strategies and change if necessary to remain attractive to tourists. ”
Travelers continue to prioritize experiences over goods
Consumers around the world continue to prioritize experiences over physical goods. This trend has spilled over into the travel sector, where spending on experiences, particularly nightlife, accounts for 12% of tourism sales, the highest in at least the past five years. Additionally, the fast-growing fine dining scene in India has slightly surpassed the fine dining category in destination tourist dining. As of March 2024, spending on casual dining increased by 49.2% year over year, while spending on fine dining increased by 55.2%.
The Mastercard Economic Research Institute predicts that travel will become increasingly accessible to all Indians. This trend will be further accelerated by the growth of the middle class and the addition of new air routes connecting different regions.
Globally, nine of the last 10 record spending days for both cruises and airlines occurred in 2024.
Notable examples of this strength in 2024 include:
Travel passenger numbers: Approximately 15.9 million Americans traveled abroad in the first quarter of 2024, a record high, while Japan welcomed more than 3 million passenger arrivals in March 2024 Consumers Spending: As of March 2024, the global cruise and airline industry recorded 9 of the past 10 record spending days , people are spending about an extra day on vacation compared to pre-COVID-19 trends Travel for events: Memorable events are driving travel trends. Note the influx of tourists to Munich for the opening match of the European Championships – for concerts and sporting events Top earners: Japan, Ireland and Romania have increased their spending by tourists compared to last year The share has increased significantly this year with Munich, Germany ranking top as a trending destination due to the influence of the European Championship. Consumers travel for memorable events ranging from solar eclipses to Taylor Swift shows, Brazilian carnivals and the Cricket World Cup. These events generate strong spending increases for businesses near and adjacent to the region. Example: Increased tourist spending at restaurants, bars, and grocery stores during Rio de Janeiro's 2024 Carnival was 156% higher than it would have been without the event. During the U.S. solar eclipse, hotel sales in total orbit increased by 71% compared to business as usual. In 2023, restaurant sales within 4.1 miles of Taylor Swift's concert venue were 68% above normal business hours.
Where have tourists traveled in the past 12 months?
Japan has emerged as the clear frontrunner, with foreign exchange favoring Japanese companies targeting tourists and local economies benefiting from a surge in tourist activity. Italy and Spain are in fourth and fifth place respectively, enjoying strong demand from travelers around the world for their warm, sunny climate. Romania in particular ranks high on the list at number 3. This is partly due to Romania joining the Schengen Area, which has prompted airlines to expand their services to Romania. This move led to an increase in tourists, especially from Spain, Sweden, and Denmark.
