A recent report by Sabre indicates strong growth potential with domestic travel already above 100 percent of pre-pandemic levels, and international quickly catching up, alongside major investments in the Indian travel marketplace. India is a fast-growing country with a population of more than 1.4 billion, and according to the United Nation’s (UN) latest report, has recently surpassed China as the world’s most populated country.
India has also been predicted to overtake Germany to become the world’s third-biggest travel and tourism country by the World Travel and Tourism Council’s Economic Impact Research. With major aviation developments in the country announced recently, Sabre has sifted through data to examine the potential of India’s travel growth, and what we may see in the coming years.
Key findings include:
Significant investments in the tourism industry are expected to increase, and support, airline capacity requirements for domestic and international travel.
As of March 2023, bookings are back to 100 percent of pre-pandemic levels for domestic trips and are at nearly 100 percent of pre-pandemic levels for international trips, with domestic travel increasing in popularity and domestic capacity having already exceeded pre-pandemic levels.
Indian carriers are expected to play a significant role in international travel.
Passenger numbers are increasing despite significantly higher international fares.
The growing middle-class segment in India is expected to gain access to travel as travel becomes more affordable; the middle-class segment is expected to double from one in three to two in three Indians by 2047.
Significant investments in the Indian tourism to spur capacity
Major plane orders by Air India, Akasa Air and IndiGo are expected to result in close to 1,200 more aircraft for Indian carriers over the next 24 months to support the growing demand for travel. The Union Budget of India 2023 presented in February this year, also announced a series of developments to support potential tourism industry growth.
A $12 billion investment was announced for aviation infrastructure upgrades to support capacity increments, with aims to increase the number of airports in India from 148 to 220 by 2025, alongside more aviation schools to prepare for increased demand for pilots.
India is also refurbishing and developing nearly 100 airports, under the “Revival of Unserved and Under-served Airports” programme, aimed at making air travel more affordable and accessible, while further supporting an increase in capacity, especially for domestic travel.
09/05/2023 Asian Aviation
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