Markets: Travel Services in India poised to grow at 11.38% CAGR

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Low-cost airlines driving the travel services market, says report

The travel services market in India is poised to grow by US$11.78 billion, accelerating at a CAGR of 11.38% during 2022-26, said a ResearchAndMarkets report.

The market is driven by increase in the number of M&A, partnerships, and strategic alliances, increasing international tourist footfall as well as increasing adoption of online payment platforms, said the report “India Travel Services Market 2022-2026″.

The study identifies the introduction of low-cost airlines as one of the prime reasons driving the travel services market growth in India during the next few years.

Also, increased contribution of travel and tourism to GDP and employment and technological advances in mobile-based and website-based travel service platforms will lead to sizable demand in the market.

Companies covered in the report are:

Airbnb Inc

ANI Technologies Private Ltd

Cox and Kings Ltd

Expedia Group Inc

Fairfax Financial Holdings Ltd

Indian Railway Catering and Tourism Corp Ltd

Kesari Tours Pvt Ltd

Mahindra Holidays and Resorts India Ltd

MakeMyTrip Ltd

Meru Mobility Tech Private Ltd

One97 Communications Ltd