How India Is Set to Be a Powerhouse in $15 Trillion Global Leisure Travel Market


The worldwide leisure journey market is anticipated to triple in worth by 2040 to achieve $15 trillion, based on Boston Consulting Group’s new report. And India is among the many international locations anticipated to drive this surge. 

Home leisure journey is anticipated to achieve $12 trillion by 2040, whereas regional journey will triple to over $2 trillion, based on the report. Worldwide leisure journey is projected to develop the quickest, nevertheless, it can nonetheless maintain the smallest share of round $1.4 trillion. 

BCG added that the following wave of vacationers is more and more originating from “rising markets” similar to China, India, Saudi Arabia, and Vietnam. These markets, it added, are outpacing conventional tourism drivers just like the U.S., U.Okay., and Germany. 

Projections for India: “India is poised to turn into probably the most dynamic leisure journey markets globally,” stated Nitima Malhotra, associate at BCG. “With home leisure journey spend projected to develop at 12% yearly and worldwide spend at 10% via 2040, Indian vacationers are more and more exploring each their very own nation and the world,” Malhotra added. “As journey turns into extra digital, culturally related, and experience-led, India’s rising shopper base will play a pivotal position in shaping the following chapter of worldwide leisure journey.”

In its report, BCG famous that India skilled reasonable to sturdy progress in leisure journey spending from 2019 via 2024, “suggesting a fast restoration from Covid-19-related impacts on journey.” It’s anticipating important continued progress as Indian vacationers are more and more touring domestically in addition to internationally. 

It projected that for Indian vacationers, home, regional, and worldwide overnights will rise by 3%, 4%, and 6%, respectively, per 12 months. 

The Altering Indian Dynamics: There’s a clear shift within the journey business led by millennials and Gen Z vacationers, Malhotra stated. This era is touring extra and likewise in search of “experiences that mix worth, personalization, and goal.” 

“India additionally stands out for its sturdy desire for multigenerational journey and the rising reputation of ‘bleisure’, with over 70% of vacationers seeking to mix work and leisure,” she stated. 

BCG’s report discovered that youthful Indian vacationers are planning to take extra journeys subsequent 12 months and likewise intend to spend extra on journey. Whereas Millennials are almost certainly to mix enterprise with leisure journey, over 80% of Indian vacationers have carried out so at the least as soon as. 

Indian vacationers want taking journeys with their partner or with household, with lower than 10% preferring to journey alone, BCG stated. Nonetheless, household or pals is a decrease issue for Indian vacationers’ journey plans as in comparison with actions and ease of journey. These components additionally trump the associated fee issue, whilst Indians are traditionally budget-conscious vacationers. That is in step with the current development of Indians selecting to spend extra on journey plans for distinctive experiences. 

It added that spiritual journey, though a world area of interest, is a distinguished journey desire amongst Indians. 

Trip Rental Model StayVista Raises $4.7 million

Indian villa rental platform StayVista has raised greater than INR 400 million ($4.7 million) in its Sequence B funding spherical. The corporate stated that the funding will drive its strategic enlargement into new markets, whereas permitting it to “strengthen its service choices” and “elevate its visitor and host experiences.”

StayVista Co-Founder Pranav Maheshwari stated that over the previous few years, the corporate has turned worthwhile and has greater than 1,000 properties on its platform. 

The funding was led by JSW Ventures, together with current buyers DSG Client Companions and Capri International. 

For JSW Ventures, the funding got here as there’s a clear shift in traveler preferences from lodges to various lodging, stated Sachin Tagra, managing associate. 

In response to Skift Analysis, in August 2023, solely about 7% of Indian vacationers opted for trip leases. Nevertheless, final July, Skift Analysis’s preliminary evaluation indicated that the Indian short-term rental business might develop right into a $3 billion market by 2033.

In an interview with Skift final 12 months, Amit Damani, the co-founder of StayVista, stated, “The marketplace for various lodging in India continues to be in its nascent stage.” He stated that Indian vacationers usually take journeys in teams, and search “non-public, unique areas that may accommodate their total group, which lodges usually can not present.”

Journey is India’s Greatest International Spending Class

Indian vacationers spent almost $1.3 billion on worldwide journey in April 2025, Skift reported. It is a 10% enhance year-on-year and 13% greater than March, based on information from India’s central financial institution Reserve Financial institution of India. 

Journey accounted for over 51% of the entire worldwide spending by Indians throughout April, whereas in March this was round 44%. The month-to-month worldwide journey spending of Indians has persistently exceeded $1 billion, with it having reached $1.1 billion in February and $1.13 billion in March.

In fiscal 12 months 2024, Indians spent a file $31.7 billion overseas. Worldwide journey accounted for 54% of this spending amounting to $17 billion. Within the 2025 fiscal 12 months whereas complete abroad spending dipped to $29.5 billion, journey spending remained regular at $16.9 billion, signaling a stabilized worldwide journey spending sample post-Covid. 

Notably, in August 2024, Indians spent over $2 billion on worldwide journey, accounting for almost 63% of that month’s $3.2 billion in international spending.

Scandinavian Airways Returns to India After 17 Years

Scandinavian Airways, the flag provider of Denmark, Norway, and Sweden, is returning to India after 17 years. The airline can be launching a brand new direct service from Copenhagen to Mumbai subsequent June, permitting individuals to journey on the route in 9 hours. The airline will function 5 weekly flights on the route. 

The airline’s President and CEO Anko van der Werff stated that India is a key world market, each by way of rising demand and financial significance. “Mumbai is a pure subsequent step in our technique to hyperlink Scandinavia with one of many world’s most vital areas for enterprise and leisure journey,” he stated, including that the route may also help elevated connectivity between India and Northern Europe, in addition to between India and North America. 

In step with this, the airline stated that the flight occasions have been “designed to help easy transfers to and from main locations in Scandinavia, Europe, and North America.”

Assam Ties Up With BookMyShow for Worldwide Concert events

Northeastern state of Assam has tied up with leisure platform BookMyShow to spice up the live performance financial system within the state. By means of this settlement, the state is in search of to turn into a number one music and tourism vacation spot. This initiative is about to start with rap artist Publish Malone’s live performance in Guwahati in December. 

Below the partnership, the concert events can be carried out completely via BookMyShow and the state authorities won’t intrude. No free passes for the concert events can be issued, even for ministers, Chief Minister Himanta Biswa Sarma stated. 

This comes after the state not too long ago accredited its Live performance Tourism Coverage as dwell concert events have turn into a powerful driver for journey in India. Skift had earlier reported that over 222,000 individuals attended British rock band Coldplay’s Ahmedabad concert events earlier this 12 months. 

A report by BookMyShow Reside and EY’s strategic consulting arm EY-Parthenon stated that the live performance generated an estimated financial influence of INR 6.41 billion ($75 million) for Ahmedabad. For the three days that the live performance was held, Ahmedabad airport dealt with 138,000 vacationers. The influx of vacationers for the live performance additionally pushed up room charges as lodge bookings elevated 1047% throughout January 26-28.

IndiGo to Begin Hindon-Goa Direct Flights

IndiGo has introduced a direct service between Hindon airport in Ghaziabad and Goa beginning this month. The airline will function six flights every week on the route. 

Final week, the airline introduced its plans to begin operations from the Hindon airport within the Delhi nationwide capital area (Delhi-NCR). On the time of the announcement, it stated that it could launch providers connecting Hindon with eight cities – Ahmedabad, Bengaluru, Chennai, Indore, Kolkata, Mumbai, Patna, and Varanasi. 

The Hindon airport in Uttar Pradesh is situated in Ghaziabad offering connectivity for residents of Ghaziabad, East Delhi, and Western Uttar Pradesh.