India sees 6.5m outbound luxury, Mice tourists by 2020
India is estimated to generate 6.5 million outbound luxury and Mice tourists annually by 2020, reinforcing the country’s influence as a key source market for Mice and luxury travel, according to figures published ahead of the fifth Annual Mice India and Luxury Travel Congress (MILT).
The projected market growth accounts for the Ministry of Tourism’s official outbound tourism figures, specifically for India’s current 1.5 million outbound Mice travellers and 3.6 million outbound luxury travelers. As calculated by Mastercard, both markets are forecast to grow at a compound annual growth rate (CAGR) of 8.6 per cent to 2020.
Supporting travel and tourism businesses as they capitalise on the growth potential, Dubai-based B2B event specialist QnA Global is the organiser of the fifth Annual MILT Congress, which is all set to take the Indian Mice and luxury travel industry by storm yet again on July 27 and 28 at the Hyatt Regency in Mumbai and on August 1 and 2 at Andaz by Hyatt in Delhi NCR.
In 2016, the GCC witnessed an unprecedented spike in arrivals from India, with both Dubai and Abu Dhabi naming the country their top source market for the year. There was an increase of 15 per cent in the arrivals from India in 2016, following a 20 per cent rise in 2015, according to official tourism figures published by Dubai’s DTCM and Abu Dhabi Tourism and Culture Authority, respectively.
Outbound Marketing Pvt Ltd is a marketing representative company working with tourism businesses looking to boost revenue from Indian arrivals. Representing Melia International, Corinthia Hotels and Resorts, Sun Lux Collection and the UAE’s Meydan Hospitality and Hotels, managing director, Outbound Marketing Pvt Ltd, Vasudha Sondhi said: “The largest and fastest growing segments in India’s outbound market are large groups, weddings, incentives and events. Only a decade ago, these segments were low yield business but economic growth in India has changed things and now these segments, along with budget, are high yield business.”
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