Thomas Cook (India) Limited – India’s leading omnichannel travel services company and its Group Company, SOTC Travel, surveyed over 3,500 consumers, covering a comprehensive market (including India’s metros, mini metros like Pune, Chandigarh, Coimbatore and key Tier 2-3 markets of Jaipur, Indore, Tiruchirappalli, Madurai, Nagpur, Surat, Baroda, Bhubaneswar, Lucknow, Mysore, Visakhapatnam, Guwahati, Patna, etc) to release the India Holiday Report – May 2023.
The survey was conducted over a period of one month and administered via the Companies’ online channels. The India Holiday Report – May 2023 reflects highly positive travel sentiment with insightful consumer behaviour and travel trends. Key findings include:·
- Increased holiday intent: Travel is clearly back on the Indian consumer radar with over 84% respondents indicating increased intent to travel in the next 6 months Vs. 45% pre-pandemic.
- Multiple shorter trips/ mini-cations: In addition to at least one/ two long annual trips of approx.10-12 days, 82% respondents indicated preference for multiple (3-4) shorter trips/minications (domestic and international short haul).
- Higher spends: Despite supply constraints leading to higher pricing, over 80% respondents displayed appetite for higher spends of approx. 20% Vs. pre pandemic.
- High growth segments: While multigenerational families (75%), Couples/ DINKS (62%) continue to display a strong travel desire, high growth segments that are emerging include:
- Rise of Young India: As the youngest demography in the world, approx. 65% of India’s population is below the age of 35. Young India (millennials and Gen Z) form the new powerhouse for the sector with highest intent to travel (95%). Concept of YOLO (you only live once) is driving travel demand.
- Gen S: India’s Silvers/Seniors have significant disposable income post retirement, topped up with funds from their children, and are displaying high travel appetite (58%), especially for premium holidays like cherry blossom tours in Japan and cruises.
- Regional India-Bharat: Rising disposable incomes + aspirational value of holidays is resulting in strong desire (60%).
- Experiences driving demand: Pandemic-induced restrictions have increased appreciation for life. 78% respondents opted for experience led travel to create memories of a lifetime with deeper exploration and distinctive local elements V/s. regular sightseeing: Bucket list destinations/ elements (65%); gastronomy (45%); outdoor-adventure-fun (50%); culture and history (30%).
- Surge across both – domestic and international travel: While only domestic holidays were preferred by 40% respondents and only international by 66%; a significant 90% opted for botho Domestic destinations favoured were Kashmir (60%); Himachal and Uttarakhand (50%), Ladakh (35%), North East (40%) Kerala (25%), Andamans (30%), Goa (30%); Bhutan in the Indian subcontinent (30%).
International tourism is witnessing a strong resurgence. Despite visa challenges, Europe is a clear favourite preferred by over 46% of respondents led by Switzerland, France, Spain and Italy. Short hauls (50%) are witnessing rapid growth with increased interest for Thailand, Singapore, Malaysia, Indonesia, Dubai, Abu Dhabi, Oman; island destinations like Maldives, Mauritius (28%).
Strongly emerging on the radar are destinations like Japan and S. Korea (25%); also Vietnam-Cambodia due to new flights and increased connectivity (30%). Long hauls like Australia with end-to-end digital visa processes are seeing uptick of 20%. USA continues to face visa challenges and was selected by 8%.
