India’s travel market, which was worth around $ 75 billion in FY20, is expected to cross $ 125 billion by FY27, a report titled “India Travel Market” released. by RedCore, the branch of RedSeer that focuses on start-ups.
The increase in travel is fueled by improved airport infrastructure and increased access to passports. The travel market represents both domestic travel, inbound and outbound travel by Indians.
He revealed that the travel market declined significantly in FY21, but the recovery is expected to continue in FY22. He also expects a spike in recent years due to pent-up demand.
The Indian travel market is dominated by around 300,000 travel agents who account for the largest share by booking channel of around 52%.
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