The Indian travel industry is experiencing a dynamic transformation, characterised by a resurgence in travel activity and evolving preferences among travellers from across the world. As highlighted in the ACKO Travel Index 2023, there is a notable shift towards both domestic and international travel demand from domestic tourists, with travellers displaying a keen interest in exploring diverse destinations. This report delves into key insights regarding destination preferences, budget allocations, digitalisation of travel planning, and the growing importance of travel insurance, offering a comprehensive overview of the emerging trends shaping the travel landscape. (Image: William D'souza)
1. Revival of Indian Travel Industry | After an extended period of subdued activity, the Indian travel industry is experiencing a resurgence, with increasing demand among Indian travellers for domestic and international trips. The trend signifies a significant shift in post-pandemic travel behaviour.
2. International vs Domestic travel preferences: According to the ACKO Travel Index 2023, 60% of Indian travelers are planning international trips, while the remaining 40% are inclined towards exploring domestic destinations, reflecting a diverse range of travel interests among respondents. (Image: Reuters)
3. Destination preferences: Dubai and the Maldives emerge as top choices for international travel, while Kerala and Himachal Pradesh stand out as preferred domestic destinations, showcasing a blend of exotic and culturally rich locales favored by Indian travellers.
4. Increased travel budgets: The post-pandemic era witnesses a willingness among Indian travellers to allocate more funds towards vacations, with 71% expressing a desire to increase their travel budget, particularly for international trips, indicating a pent-up demand for leisure travel experiences.
5. Digitalisation of Travel Planning: An overwhelming majority of respondents, 75%, are inclined towards utilizing digital platforms for trip planning, underscoring the growing influence of technology in facilitating travel arrangements, from transportation bookings to itinerary planning.
6. Travel Companions | Friends, spouses, and immediate family members emerge as preferred travel companions for Indian travelers, with solo travel also gaining popularity among a notable segment, reflecting diverse preferences in travel dynamics.
7. Travel Priorities | Comfortable and hassle-free travel experiences rank highest among traveler priorities, followed by considerations such as ticket prices, flexibility in bookings, cleanliness, and safety measures at accommodations and activity venues.
8. Impact of COVID-19: The pandemic has reshaped the travel landscape, prompting 31% of respondents to express a desire for more international travel in 2023, alongside an increased willingness to extend trip durations and allocate higher budgets post-pandemic. (Image: Shutterstock)
9. Importance of Travel Insurance: A significant majority, 67%, recognize the importance of travel insurance in safeguarding their travel plans, with awareness regarding coverage benefits such as medical emergencies and lost baggage contributing to its perceived value among travelers. (Image: Shutterstock)
10. Travel insurance preferences: Medical and accident coverage emerge as primary considerations for travelers when selecting insurance plans, underscoring the importance of comprehensive coverage options tailored to meet individual needs and preferences.