Notwithstanding the impact of the country's slowing economy, depreciating rupee, and ailing airline industry on its travel market, gross bookings in India will march ahead by double digits through 2015, reaching USD 28.8 billion, PhoCusWright Global and Asia Pacific Edition report said.
Justifying this estimation, Chetan Kapoor, Research Analyst, Asia Pacific, PhoCusWright, said, "The weakness of the rupee and overall economic sluggishness in the Indian economy have definitely taken a toll. But while the Indian travel market appeared flat in dollar terms in 2012, nearly all travel segments saw double-digit increases in local currency terms, and most will maintain strong growth through 2015."
Despite facing a myriad challenges from within and outside the travel industry, India remains among the fastest growing travel markets in the Asia-Pacific region.
Online travel in India continues to outpace the total travel market, with online gross bookings projected to reach USD 12.5 billion in 2015, up 80 per cent over 2012. While air and rail make up the vast majority of India's online travel market, the country's fragmented hotel landscape poses the biggest opportunity. Online lodging bookings will rise more than 30 per cent annually over several years as online travel agents push to expand their offerings beyond air.
Online travel in India continues to outpace the total travel market, with online gross bookings projected to reach USD 12.5 billion in 2015, up 80 per cent over 2012. While air and rail make up the vast majority of India's online travel market, the country's fragmented hotel landscape poses the biggest opportunity. Online lodging bookings will rise more than 30 per cent annually over several years as online travel agents push to expand their offerings beyond air.