India has witnessed a rapid digital transformation, with a growing number of people gaining access to the internet, primarily through smartphones. This has fueled the growth of online travel bookings. Online travel aggregator platforms like MakeMyTrip, Cleartrip, Goibibo, and Yatra have become household names in India. These platforms offer comprehensive solutions for booking flights, hotels, buses, trains, and even holiday packages. Online platforms provide an extensive range of accommodation options, from budget hostels to luxury resorts. Travelers can filter by price, location, amenities, and reviews, making it easy to find the perfect stay. The Indian Railways, one of the world's largest railway networks, is a significant component of online travel. Travelers can book train tickets, check seat availability, and get real-time information on platforms like IRCTC. Online bus ticketing has gained traction, especially for inter-city travel. Platforms offer options to book sleeper, semi-sleeper, and luxury buses, with real-time tracking and boarding points. Travelers can explore a variety of holiday packages that include flights, accommodations, and sightseeing tours. Customizable packages cater to different budgets and preferences. Adventure tourism is on the rise, with platforms offering bookings for activities like trekking, river rafting, paragliding, and wildlife safaris. Online agencies are now offering cruise bookings, appealing to travelers seeking sea voyages and cruise holidays. Solo travel has gained popularity, with platforms providing resources and support for solo travelers, including safety tips and community forums to connect with like-minded individuals. User-generated content, including reviews, ratings, and travel stories, plays a significant role in helping travelers make decisions. Many travelers rely on peer recommendations. Travelers in India often plan trips around festivals and holidays. Online platforms offer packages and discounts tailored to specific festivals and seasons. Online agencies cater to the student and youth travel segment, offering budget-friendly options, group tours, and student-specific discounts. India's diverse cultural festivals are a major draw. Online platforms offer packages for events like Diwali, Holi, and Navratri, allowing travelers to immerse themselves in local traditions. According to the research report "India Online Travel Market Overview, 2028," published by Bonafide Research, the India Online Travel market is anticipated to grow at 21.16% CAGR from 2023 to 2028. India's internet travel industry is maturing as more industries switch to digital media. Online travel gross booking growth will exceed that of the whole travel market by double digits. Due to the convenience of the internet and the introduction of artificial reality (AR), the online travel sector in India is changing quickly. As a result, an increasing number of Indians are using it to find cheaper flights and lodging. Holiday packages are increasingly being offered in conjunction with travel and transportation options, including ones that include airport transfers. The largest continuous development in India is the accessibility and affordability of air travel and the government's regional airport development programme is encouraging connectivity to smaller cities and villages. The growing tourist industries, as well as the expanding penetration of internet usage and smartphone users across various countries, are the key drivers of the Indian online travel business. Additionally, the market will increase favourably as a result of rapid urbanisation, rising per capita income, economic expansion, and changing consumer lifestyles that favour better services and comfort. With its contribution to the GDP of India, the travel and tourism sector was the seventh-highest GDP contributor. Over the last ten years, India's economy has grown at one of the fastest rates in the world. As more Indians with expanding disposable incomes travel more frequently both domestically and internationally, positive economic improvements could help to boost the nation's tourism industry. The Indian government's encouragement of the industry should also help it grow. The rising level of personal discretionary income is what is fuelling the expansion of the internet travel industry in India. Innovative travel and holiday package deals are being offered by market players to help consumers choose wisely based on their budgets. Examples include inexpensive packages for overseas destinations, savings on car rentals, and cash back on international flights. The number of foreign departures has been continuously increasing over the years, and long-term trends indicate a significant possibility for volume expansion in the international tourism sector as a result of millions of Indians' rising disposable incomes. The amount spent on international travel by Indian tourists has been rising along with the number of departures. India has witnessed a significant increase in domestic tourism in recent years. Travelers exploring various destinations within the country require accommodations, driving the demand for online booking services in this segment. India offers a wide range of accommodation options, including hotels, resorts, guesthouses, homestays, and boutique properties. Online platforms provide travelers with access to this diverse inventory, catering to various preferences and budgets. A considerable portion of Indian travelers falls into the budget and mid-range categories. Online platforms enable them to find affordable accommodation options, often with exclusive discounts and deals. Business travel in India continues to grow, with professionals frequently requiring accommodations in major cities and business hubs. Online booking platforms streamline the process for business travelers, offering a selection of hotels tailored to their needs. Furthermore, based on device, the market is divided into Laptop/Desktop Devices and Mobile Devices. India has experienced a rapid increase in smartphone penetration. Affordable smartphones and data plans have made mobile devices the primary internet access point for a large portion of the population. Mobile devices provide unparalleled convenience and accessibility. Travelers can search for and book flights, accommodations, and other travel services anytime and anywhere, eliminating the need for a desktop or physical travel agency. Many travelers in India make spontaneous travel decisions or last-minute bookings. Mobile devices enable them to quickly research options and secure reservations, even while in transit or at their destinations. OTAs offer one-stop platforms where travelers can access a wide range of travel services, including flights, accommodations, car rentals, and activities. This convenience encourages travelers to use OTAs for all their booking needs. Leading OTAs have developed user-friendly mobile apps and mobile-responsive websites. Travelers can search for and book travel services on their smartphones and tablets, promoting on-the-go bookings. Many OTAs have their loyalty programs that reward frequent users with points, discounts, and exclusive perks. These programs incentivize travelers to stick with a particular OTA for their bookings. Recent Developments: • In August 2020 - MakeMyTrip launched myPartner platform to assist travel agents in offering enhanced travel booking experiences to travelers. The platform, myPartner, has been designed to provide local travel agents access to one of the widest selections of online travel inventory. While digitizing the day-to-day booking processes of all offline travel agents alike, myPartner has been conceptualized and built to immensely benefit the local travel market beyond metro cities. • In June 2021 - Oyo along with online travel agencies such as Yatra, AirBnB, and EaseMyTrip have launched an association to look into the issues faced by small hotel owners and promote new formats of tourism in the country trying to recover from the setback of the pandemic. Christened Confederation of Hospitality Technology and Tourism Industry (CHATT), the industry body will help small and medium hotels and homeowners across India to adopt technology to revive their businesses. Considered in this report: • Geography: India • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report: • India Online Travel market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Service Type • Transportation • Travel Accommodation • Vacation Packages • Others (Travel Insurance, Visas and passport services, Currency Exchange Services, Travel spa and wellness services, Travel gear and gadgets, etc.) By Device • Laptop/Desktop Devices • Mobile Devices By Mode of Booking • Online Travel Agencies (OTAs) • Direct Travel Suppliers The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Online Travel industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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