Bangkok among world’s top 10 summer vacation destinations: Mastercard
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Among tourists worldwide, the tourism industry is seeing more Indians travel than ever before. The trend is fuelled by a growing middle class, increased route capacity, and a strong desire to travel.
It is believed that in 2024, more Indians will travel internationally than ever before.
The MEI discovered that in the first three months of 2024, 97 million passengers passed through Indian airports. Just 10 years ago, the same number would have been achieved in a full year. Domestic passenger traffic is up 21% from 2019, while international passenger traffic is up 4% as of March 2024.
Indian travellers to key markets will increase significantly in 2024 compared to 2019: Visitors to Japan increased by 53%, to Vietnam by 248%, and to the United States by 59%, despite the fact that total overseas arrivals to the United States remain 7% lower than in 2019, owing primarily to the strong US dollar.
Other interesting findings include the fact that tourists in APAC (excluding Australia and New Zealand) are extending their trips by an average of 1.2 days in 2024, for a total duration of 7.4 days, driven by the affordability of destinations, warm weather, and favourable exchange rates. This compares to a 2019 average of 6.1 days per trip.
The APAC destinations with the longest increase in trip duration between 2019-2024 are: India (+2 days), Vietnam (+2 days), Indonesia (+1.9 days), and Japan (+1.4 days), owing primarily to lower hotel price growth during this period compared to other markets.
Mann pointed out that longer stays tend to result in more spending per trip, which benefits local economies.
Meanwhile, global consumers continue to value experiences over material goods. This is reflected in the travel industry, where spending on experiences and nightlife accounts for 12% of total tourism sales, the highest level in at least five years. Retail sales are recovering at a slower rate.
Tourists still prefer laid-back vibes, except in areas where luxury retail and fine dining offer excellent value for money.
The study found that Australia, India, and Thailand now have thriving fine dining scenes, resulting in premium dining outperforming casual dining, which remains dominant elsewhere.
Overall, despite fluctuating exchange rates and varying levels of affordability, travel is booming, with nine of the last 10 record-breaking spending days in the global cruise and airline industries taking place this year.
Looking ahead, the MEI expects this trend to continue as consumers worldwide prioritise meaningful experiences and devote more of their budgets to travel.
www.nationthailand.com
Among tourists worldwide, the tourism industry is seeing more Indians travel than ever before. The trend is fuelled by a growing middle class, increased route capacity, and a strong desire to travel.
It is believed that in 2024, more Indians will travel internationally than ever before.
The MEI discovered that in the first three months of 2024, 97 million passengers passed through Indian airports. Just 10 years ago, the same number would have been achieved in a full year. Domestic passenger traffic is up 21% from 2019, while international passenger traffic is up 4% as of March 2024.
Indian travellers to key markets will increase significantly in 2024 compared to 2019: Visitors to Japan increased by 53%, to Vietnam by 248%, and to the United States by 59%, despite the fact that total overseas arrivals to the United States remain 7% lower than in 2019, owing primarily to the strong US dollar.
The APAC destinations with the longest increase in trip duration between 2019-2024 are: India (+2 days), Vietnam (+2 days), Indonesia (+1.9 days), and Japan (+1.4 days), owing primarily to lower hotel price growth during this period compared to other markets.
Mann pointed out that longer stays tend to result in more spending per trip, which benefits local economies.
Meanwhile, global consumers continue to value experiences over material goods. This is reflected in the travel industry, where spending on experiences and nightlife accounts for 12% of total tourism sales, the highest level in at least five years. Retail sales are recovering at a slower rate.
Tourists still prefer laid-back vibes, except in areas where luxury retail and fine dining offer excellent value for money.
Overall, despite fluctuating exchange rates and varying levels of affordability, travel is booming, with nine of the last 10 record-breaking spending days in the global cruise and airline industries taking place this year.
Looking ahead, the MEI expects this trend to continue as consumers worldwide prioritise meaningful experiences and devote more of their budgets to travel.
