A recent Google India-Boston Consulting Group report has projected the overall Indian travel market to reach USD 48 billion by 2020 at a CAGR of 11 per cent. According to India Brand Equity Foundation, the online travel market alone is expected to account for around 40 to 50 per cent of these total transactions by 2020. We find our more about this growing segment of online travel aggregators in India.
The world of travel has changed immensely over the last 20 years. Like many other industries, it’s gone from a largely manual process to an increasingly digital one. From some of the largest Online Travel Aggregators (OTAs) like MakeMyTrip - Goibibo (Go-MMT), Booking.com, Expedia, Cleartrip and Yatra. com to the growing clout of newer ones like OYO Rooms, Airbnb, and Paytm, the OTA segment has grown by leaps and bounds in the travel industry. Parikshit Choudhury, Chief Business Officer, MakeMyTrip Limited, says, “As India’s digital economy takes wings, intermediary platforms play a critical role in the travel and tourism value chain as we create an avenue for higher visibility to businesses by building an online marketplace that brings unparalleled ease and efficiencies.”
Experts in the industry believe that this upsurge in the Indian online travel space in the last few years has been fuelled by many key drivers — the increase in household incomes, rise in e-commerce and digital/smartphone penetration, and the Government’s attempts to ease out on-arrival visa policies in other countries, among others.
Ritu Mehrotra, Country Head, Booking. com, says, “Technological advances coupled with growing consumer appetite will further compel the industry to go beyond conventional travel experiences as we move ahead in 2019. India as a travel market itself is nascent with only 1 in 100 people going for a vacation out of the country which is far less as compared to other emerging markets.”
OTAS : THE GROWING CLOUT
This story is from the March 2019 edition of Business Traveller India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 2019 edition of Business Traveller India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
The Jewel Of Rajasthan
Exploring the royal history, heritage, and timeless beauty of Jaipur
Salathip Thai Restaurant at Shangri-La Bangkok
Nestled along the banks of the majestic Chao Phraya River lies Salathip Thai Restaurant, a culinary gem offering a quintessential Thai dining experience.
Roganic Hong Kong
Roganic Hong Kong a culinary gem, a labour of love by Chef and restaurateur Simon Rogan, is ensconced in the vibrant heart of Causeway Bay.
The Legacy House at Rosewood Hong Kong
The Legacy House stands as a flagship Cantonese restaurant cocooned within the prestigious Rosewood Hong Kong.
Azerbaijan Unveiled
Business Traveller India speaks to Florina Sengstschmid, CEO of Azerbaijan Tourism to understand the tourism board's plans, growth trajectory and more
AUGMENTED ESCAPES
The Metamorphosis of Travel: Augmented Reality's Reign in Tourism
Why airline alliances work for global travellers
From smoother journeys to frequent flyer perks, airline alliances offer benefits to all
Frankfurt Airport Marriott Hotel
Opened in 1975 as the Sheraton Frankfurt Airport Hotel & Conference Centre with 555 rooms, expanded in 1984 and 1988, reaching 1,050 rooms.
Sipping SUNSHINE
Cool Summer Cocktails to Beat the Heat
TURKISH Tales
Business Traveller India went on a captivating journey through the vibrant streets of Istanbul to the serene shores of Antalya, delving deep into the intriguing fusion of tradition and modernity that defines these enchanting destinations in the majestical land of Türkiye