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HVS Market Report – India’s Outbound Travel Market – By Mandeep S Lamba, Dipti Mohan and Dhwani Gupta

September 13, 2023

India’s outbound travel sector has experienced significant growth in recent years. The number of Indian travelers heading abroad reached approximately 27 million in 2019, growing at a CAGR of ~ 9% during 2011-19. Although the pandemic temporarily clipped the wings of international travel, there has been a gradual resurgence. Over 21 million Indians embarked on an international journey in 2022, with the top five destinations being the UAE, Saudi Arabia, the US, Singapore, and Thailand. Notably, a recent report highlights that India emerged as the largest source market for outbound tourism in Asia in 2022, showcasing an impressive 190% year-on-year growth. After nearly three years of restricted cross-border travel, Indians are eagerly spreading their wings, once again, to explore the world, mirroring a trend akin to the pent-up demand that fueled domestic tourism in the last two years.

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