India, an emerging leader of the Asia Pacific travel market, is now entering the new era of luxury travel with the Indian luxury market expecting to rapidly grow with a CAGR of 12.8% over the next decade [Source: Amadeus].
From India?s leading film production houses like Yash Raj Films and Fox Star Studios to the country?s top destination wedding planning companies like Percept Weddings, Wedniksha, Fab Events and Beautiful Wedding Management ? all believe that luxury travel from India is growing at an exponential rate.
Talking about what has led to this impeccable growth of outbound luxury travel from India, Sushil Shamlal Wadhwa ? Founder & CMD at Platinum World Group stated, ?As people earn more wealth and get exposed to unique experiences and new destinations, luxury travel has become the new status symbol and the ‘in thing’ to do. The awareness that ‘experiences’ and not ‘things’ can give more happiness is also contributing to the growing popularity of luxury travel?. International destinations & venues have begun investing resources into specifically targeting premium travelers from India, however, in order to stand out from the crowd when targeting these luxury travelers, Sushil added that ?A popular destination will have to reinvent itself and offer newer experiences to attract the luxury traveler. It’s relatively easier for unexplored destinations to attract the luxury traveler just because it’s not explored b...