India's outbound tourists set to spend $55 billion by 2034: Nangia NXT report

In a detailed report titled "Navigating Horizons," Nangia NXT, in association with FICCI, has projected a significant surge in India's outbound tourism market. The report reveals that Indian outbound tourism spending is set to increase from $18.82 billion in 2024 to an impressive $55.39 billion by 2034.

The report identifies several key factors driving this growth, including rising disposable incomes, improved connectivity, and the expansion of the middle class. These elements are creating a conducive environment for more Indians to travel abroad, seeking diverse experiences and adventures.

Suraj Nangia, Head (Government and Public Sector Advisory) at Nangia NXT, notes that India's outbound tourism not only benefits foreign economies but also significantly boosts India's GDP and strengthens international economic ties. Increased consumer spending, visa reforms, and better connectivity are driving this growth, making India one of the fastest-growing outbound markets globally.

The report underscores several key trends, such as the rise of wellness tourism, adventure travel, and the influence of technology on travel planning. Digital platforms and social media have revolutionised how travellers plan and book their trips, making information more accessible and travel arrangements more convenient. Social media, in particular, has opened new avenues for destinations to attract Indian tourists by showcasing unique experiences and destinations.

Ahetesham Khan, Executive Director – Sports, Media & Entertainment & Tourism Advisory, Nangia NXT points out that the rise of middle-class families, higher disposable incomes, and a growing interest in international adventures are fuelling this surge. The report highlights the evolving preferences of Indian travellers, who are now seeking wellness retreats, adventure tourism, and unique travel experiences.

Despite these positive trends, the report also highlights challenges such as fluctuating exchange rates and climate concerns. These factors can impact travel costs and destination appeal. However, the report suggests that there are significant opportunities for destinations to tailor their offerings to meet the evolving needs of Indian travellers.