Luxury travel is no more material-centric but experiences that matter
Rising middle class to fuel further growth till 2025
As the travel fraternity worldwide is turning towards opulent getaways, the growing tribe of luxury travellers in India are predicted to lead the global outbound travel charts until 2025.
In a recent research conducted by Amadeus, a major technology provider for the world travel industry, the travellers from the BRIC (Brazil, Russia, India and China) nations are expected to be more frequent in terms of making luxury outbound trips. However, the detailed report suggests that India, with the highest CAGR (compound annual growth rate) of 12.8 pc among the BRIC countries, promises to harbour the most inspired luxury travel tribes in the coming years. The report titled ?Shaping the Future of Luxury Travel?, in association with Tourism Economics, looks at the opportunities and improvements across the global luxury travel sector till 2030. One of the highlights of this report is India?s rapidly growing middle class and the growing Indian diasporas across the globe. According to the report, while India?s middle class is taking off and fueling a rapid growth in its luxury market, medium and long haul air travel is predicted to boom across classes. Indians abroad are also going to contribute to this national travel trend. Empowered by the growing middle class, India will likely lead the way in luxury travel, presenting a great potential for investments over the ...