TravTalk India Online Magazine
With more than 30 per cent of Indian travellers choosing to visit Middle East destinations, this year’s Arabian Travel Market (ATM 2024)will be focussing on India’s outbound tourism potential. The event will have an India summit in its latest edition.
TT Bureau
The upcoming ATM 2024 from 6-9 May will feature a dedicated India summit titled ‘Unlocking the True Potential of Inbound Indian Travellers’, which will take place at ATM’s Global Stage on 6 May, in conjunction with VIDEC Consultants. The summit will explore the dynamics of India as a key source market for tourism growth, as well as current and future opportunities.
The summit is in line with the boom in Indian outbound market, which is forecast to be worth $143.5 billion annually by the end of this decade. According to booking.com and McKinsey, 70 per cent of Indians travelling overseas choose nearby destinations, with one-third choosing destinations in the Middle East. The UAE is the top regional destination, followed by Saudi Arabia. According to the DET, India is Dubai’s top source market, with 1.9 million visitors in the first 10 months of 2023. Saudi Arabia is aiming for 7.5 million visitors by 2030.
Danielle Curtis, Exhibition Director – ME, Arabian Travel Market, said, “The boom in outbound travel from India is being driven primarily by the growing middle class. In 2020, only 37 million households had annual income between $10,000 and up to $35,000, but due to India’s rapid economic growth, by 2030 that number will rise significantly to 177 million households. More specifically, households earning over $35,000 per annum will also increase from two million in 2020 to 13 million by 2030, a sixfold increase. And with India’s median age being just 28 years, it’s little wonder that the UNWTO recognizes India as one of the top three fastest-growing outbound markets in the world. By 2030, India’s travel expenditure will be valued at $410 billion.
