JSB Market Research : Travel and Tourism in India to 2018

efforts to promote tourism through campaigns such as: 777 days of the Indian
Himalaya and Kashmir Festival 2013, coupled with infrastructure development
contributed to the growth. Total domestic tourist expenditure posted a reviewperiod
CAGR of 14.32%, increasing from INR1.7 trillion (US$35.3 billion) in 2009
to INR2.9 trillion (US$49.8 billion) in 2013.
International arrivals to India increased at a review-period CAGR of 7.29%, from
5.2 million in 2009 to 6.8 million in 2013. Inbound tourist expenditure increased
at a CAGR of 18.49%, from INR174.7 billion (US$3.6 billion) in 2009 to INR344.2
billion (US$5.9 billion) in 2013. The growth in international arrivals and
expenditure can be attributed to the government’s promotional efforts through
its participation in international events and the introduction of promotional
campaigns such as Feel India, launched in February 2013, promoting the
country’s culture and history. The liberalization of visa rules and the depreciation
of the Indian rupee also contributed.
The volume of outbound tourists is expected to rise at a forecast-period CAGR of
5.71%, driven by an increase in the middle-class population and rising disposable
incomes. Outbound tourism expenditure is also expected to rise from INR864.1
billion (US$14.7 billion) in 2013 to INR1.4 trillion (US$19.0 billion) in 2018, at a
forecast-period CAGR of 10.77%. The growth can be attributed to improvements
in air connectivity.
The airline market in India performed significantly well during the review period,
with total revenue increasing from INR377.6 billion (US$7.8 billion) in 2009 to
INR568.3 billion (US$9.7 billion) in 2013 at a CAGR of 10.76%. Robust growth was
recorded in the revenue of LCCs who posted the highest review-period CAGR of
15.46%, followed by full-service airlines with a CAGR of 9.07%, and charter
airlines with a CAGR of 3.32%. The growth of LCCs can be attributed to expansion
in the domestic and international networks of Indigo and SpiceJet.
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