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Wednesday, December 18, 2024

Unlocking Indian market

By Ho Nguyen Thao

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Up to 4,500 Indian tourists visited Vietnam in multiple groups from August 28 to September 7, reigniting interest in the Indian source market. A favorite destination for Indian travelers Indian tourists are expected to spend approximately US$18.82 billion on overseas travels in 2024, with that figure projected to rise to US$55.39 billion by 2034. According to The Economic Times of India, research firms Nangia NXT and Ficci attribute this growth to factors such as the increasing popularity of package tours, rising disposable incomes among the middle class, relaxed visa requirements in many countries, and the influence of social media. Google reported that Indian tourists rank among the top ten nationalities searching for Vietnam tourism in the first half of 2023, following the United States, Japan, and Australia. A MasterCard report titled “Travel Trends 2024: Breaking Boundaries” highlighted a 248% increase in Indian tourists to Vietnam in the first six months of this year compared to the same period in 2019. The United States and Japan followed with respective growth of 59% and 53%. Many air routes between Indian cities and Vietnam have been launched, with VietjetAir leading the way. Since September 2022, the airline has opened 17 direct routes connecting […]
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