The above data, compiled for the period from January to March 2024, also shows a significant change in tourist preferences.

Vietnam emerges as a favoured international destination for Indian tourists, which according to an article of Livemint, a website that covers the latest news, trends and analysis on business, markets, companies and economy of India.

The article affirmed that the Indian tourism market is vibrant, especially the proportion of Indians travelling abroad has increased dramatically recently, in which Vietnam has emerged as a popular international destination.

These emerging trends promise to benefit the tourism sector as India is expected to add nearly 20 million people to the middle class over the next five years, added the report.

Hoi An Ancient Town (Photo: nguyenvinhhienvl)

Mr. David Mann, chief economist, Asia Pacific, Mastercard, said there are more international trips by Indian tourists than at any time in history. India is currently the fastest growing major market in the world and for the foreseeable future, this is likely to be an ongoing (growth) story. Demand for travel, jewellery and luxury clothing will remain strong as disposable incomes grow and lifestyles become more aspirational.

In the first quarter of 2024, Indian airports recorded a record 97 million movements for both domestic and international air traffic, marking a significant increase from a decade ago, to reach such a number would take a whole year.

Also according to Mastercard's report, Indian tourists have extended their trips by one day in the year ended March 2024, compared to the same period in 2019. This trend highlights the growing demand for rich and meaningful travel experiences.

Furthermore, cruise holidays have seen tremendous growth, surpassing 2019's highs.

Despite a stronger dollar, India's outbound travel segment is doing well thanks to an expanding base of affluent consumers looking for luxury experiences. According to the report, evolving spending patterns reflect the nation's growing disposable income and aspirational lifestyles.

An analysis of Indian tourist arrivals data to popular destinations such as the US, Japan and Vietnam shows that while a strong USD may be driving tourists away from the US, arrivals from India have increased 59% compared to 2019 levels.

Japan has welcomed a record 50,000 Indian tourists since the beginning of the year.

Interestingly, while the US as a whole is yet to show a full recovery (in domestic tourism) of 2019, Indian tourist arrivals (to the US) have seen an increase of over 50% compared to the year 2019.

Vietnam, which recently added direct flights, saw a 2.5-fold increase in Indian tourists compared to 2019. This also reinforces the strength of travel demand in the region, added Mann.

Tourism Information Technology Center