International Travel Spending at 12-Month High – India Report

Indians spent over $2 billion on international travel in August, data from the Indian central bank shows – the highest amount in the past 12 months. Travel held the lion’s share in total overseas spending during the month: close to 63% of $3.2 billion.

The 2023-24 fiscal year showed the highest overseas travel spending on record: $17 billion. It was 25% more than the 2022-23, and accounted for 54% of overall international spending. By comparison, Indians spent about $7 billion on international travel in the 2019-20 fiscal year – 37% of overall overseas spending.

The initial increase was attributed to revenge travel post-pandemic, but the sustained spending this year is indicative of a long-term trend. Indians are willing to spend more on travel and are becoming a key source market for outbound tourism, according to a report by consulting firm McKinsey and Company. 

Travel services company Collinson International last month revealed that Millennials in India are spending an average of $6,031 on travel annually, more than any other generation. 

Indian travelers are also spending more on unique experiences. In a separate report, Collinson had shared that more than 50% of Indian sports travelers are spending over $500 per trip per person to attend sporting events: a significant amount for a country where middle class individuals have an annual income between $6,000 and $36,000.

India Gets 3 New Airports 

Prime Minister Narendra Modi has inaugurated three new airports in India under the Regional Connectivity Scheme: Rewa in Madhya Pradesh, Ambikapur in Chhattisgarh, and Saharanpur in Uttar Pradesh. These airports will commence operations under the scheme soon.

The Regional Connectivity Scheme (RCS-UDAN) is an initiative meant to upgrade and develop aviation infrastructure in India to improve connectivity to smaller cities. The scheme also aims to increase scheduled flights to these smaller regions through government’s financial support. 

The focus on improving connectivity has led to the emergence of new airlines such as Akasa Air and Fly91. Two more airlines, Alhind Air and Air Kerala, are also in the process of getting clearance to commence operations. 

These three airports are expected to connect people from nearby regions to major aviation hubs in the country. Currently, people from some parts of the country have to travel for a few hours to get to the nearest airport. 

Visa Applications for Vietnam Increase by 146%

Visa processing platform Atlys has recorded a 146% increase in visa applications for Vietnam as compared to 2023. The biggest surge in applications have been recorded in Bengaluru, Mumbai, and Delhi. 

Solo travelers accounted for 66% of the visa applications, the platform noted. Meanwhile, group travel has also increased, especially among Gen Z and Millennials. Atlys is attributing this surge in demand to strong connectivity, variety of experiences, and budget as well as luxury travel options.

Sterling Launches Second Resort in Pench

Earlier this year, Sterling expanded its portfolio to 50 resorts. In August, its  CEO and MD Vikram Lalvani said that the company plans to add 20 resorts having 1,000 keys over the next 12 to 18 months. 

Sterling Holiday Resorts has opened its second resort in Pench. The resort, called Sterling Orient Woods, is located on the Maharashtra side of the Pench Wildlife Sanctuary. The resort has villa-styled rooms and large luxury tents.

Stone Wood Opens New Hotel in Rishikesh

Stone Wood Hotels and Resorts has opened a new hotel in Uttarakhand’s Rishikesh. The 37-key hotel marks the company’s entry into the state. 

The Goa-based hotel chain commenced operations in 2017 and operates boutique properties. It currently has a portfolio of 16 properties across Maharashtra, Himachal Pradesh, Goa, Karnataka, Rajasthan, and Uttarakhand.

Lighthouse Tourism Increased 400% in 10 Years

Tourism footfall at lighthouses in India increased by 400% over the past 10 years, said Minister of Ports, Shipping and Waterways Sarbananda Sonowal. India recorded 400,000 visitors to its lighthouses in 2014, and last fiscal year, this number increased to 1.6 million. 

In the first half of the current fiscal year, over 900,000 tourists have visited lighthouses, the minister added. India has invested INR 600 million ($7.14 million) to develop 75 lighthouses across India. This development includes adding amenities, such as museums, amphitheaters, and children’s parks.