The travel industry is set to make a revival with a surge in demand among travelers. A recent report 'titled ACKO Travel Index 2023' reveals that around 48 percent of Indians will be allocating an increased budget for their travel this year and 37 percent will be increasing the duration of the trip. ACKO, an insurance company, in association with YouGov, has brought out this report.
With a considerable increase in demand for international travel, while planning their domestic travel, 44 percent of Indians will allocate an increased budget for travel post-pandemic, 31 percent will take more domestic trips in 2023-24, and 30 percent will increase the trip duration, the report said.
The report further states that approximately 71 percent of respondents are ready to spend Rs 1–6 lakh on their international trips, while domestic travelers would like to spend up to Rs 1 lakh. Apart from the destinations and budget, the report highlights a significant shift in the behavior of travelers. Now in every aspect of planning a trip, cleanliness is of utmost importance followed by flexibility and convenience. The respondents also wish to avoid being in crowded spaces.
The report surveyed 1,000 respondents across seven major Indian cities between the ages of 24 and 45 and identified key patterns of travel consideration among Indians.
Top considerations
While planning a trip, the most crucial consideration is the comfort of the journey throughout the trip, where 50 percent of the respondents agreed that the convenience of the travel is paramount, followed by lower ticket prices, flexible ticket booking, and the cleanliness of the flight, train, or bus they are boarding.
Cleanliness of accommodation also ranks highest for the respondents when choosing accommodation, followed by convenience, safety, and accessibility of the accommodation location. Convenience also topped the list of considerations for the respondent while choosing local activities, with cleanliness at a close second.
Do Indians understand travel insurance?
67 percent of respondents said that travel insurance is mandatory while planning their trip while 62 percent of the respondents know that travel insurance provides medical and accident coverage, which is also their top priority while considering a policy. 49 percent are aware of the lost baggage cover, followed by trip emergency coverage, missed or delayed flight cover, and trip flexibility cover, the report said.
When asked about their preferences while choosing an insurance policy, 48 percent said they prefer comprehensive travel insurance policies. However, 39 percent have also expressed interest in a more flexible and customizable travel insurance policy tailored to their needs. Only 13 percent said they don’t want to take out a travel insurance policy.
45 percent of respondents revealed that they use online portals to do their research and buy a policy eventually, while 43 percent said they consult their travel agents before making the decision. Only 12 percent seek advice from their family and friends while buying a policy.
Offline vs online
Most Indians use a combination of online and offline sources to plan their trip. For instance, 45 percent of respondents use online and offline information to choose local transport to travel to their destination. 44 percent rely on both information streams when deciding on the accommodation and 43 percent decide how to reach the goal based on their research.
Where do they want to go?
The respondents also gave their preferred international destinations, with Dubai ranking first, followed by the Maldives, Singapore, Switzerland and Bali. Goa ranked first among the preferred domestic travel destinations, followed by Himachal Pradesh, Kerala, Uttarakhand and Rajasthan.
Interestingly, 1 in 3 respondents strongly expressed interest in adventurous holidays. Some want to travel to a destination with a scenic appeal like the sea or a mountain. Other reasons to go on a holiday are for a shopping spree, to try new cuisines, or to experience a theme park.
36 percent of Indians want to go on their trip with their friends, 35 percent with their spouse or partner and only 14 percent want to take a solo trip. Few (4 percent) also like to travel with their pets.
(Edited by : Anshul)
First Published: Jul 13, 2023 4:57 PM IST
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