<2> India’s Travel Market: A Land of Contrasts
India’s travel economy is booming, with a growth rate that is outpacing many of its global peers. The country’s tourism industry has been growing at a rate of 8-10% per annum, making it one of the fastest-growing travel markets in the world.
<3> The Rise of the Middle Class
One of the key drivers of India’s travel market is the rise of the middle class. As the country’s economy has grown, more and more Indians have been able to afford travel, leading to a surge in demand for tourist services.
National Geographic estimates that the Indian middle class is expected to grow to 580 million people by 2025, making it one of the largest middle classes in the world.
<3> The Challenges of Infrastructure
Despite the growth of the middle class, India’s travel market is still plagued by a number of challenges. One of the biggest is the lack of adequate infrastructure, particularly in rural areas.