Booming Travel Sector: Domestic and International Tourism Surge Drives Revenue Growth

Crisil Ratings projects a 15-17% revenue growth for India's tour and travel operators this fiscal year. Improved infrastructure, rising incomes, and the government's push for domestic tourism are key drivers. The trend of short, frequent vacations and simplified visa processes are fueling both domestic and international travel.

India's tour and travel operators are set to see a revenue increase of 15-17% this fiscal, according to Crisil Ratings. The surge is attributed to rising domestic tourism, increased overseas travel, and favorable government policies.

Enhanced infrastructure, higher disposable incomes, and a behavioral shift towards shorter, more frequent vacations are major contributors. The market's revenue is also bolstered by better last-mile connectivity and a focus on spiritual tourism.

International travel growth is driven by simplified visa processes and appealing travel packages. Indian airlines are expanding routes to Southeast and Central Asia, further boosting outbound travel. Director at CRISIL Ratings, Poonam Upadhyay, highlighted the significant role of growing middle-class aspirations and government efforts in maintaining momentum in the sector.

(With inputs from agencies.)