53% Indians to increase travel budget in 2015: Survey
Mumbai, Mar 23: A large number of Indians have travel plans for this year, with a majority of them indicating that they may increase their spending, says a survey.
"More than half (53 per cent) the Indians will increase their travel budget in 2015. Of those planning to increase their travel spend, 52 per cent indicate that they plan to do so because they feel vacations are something they or their family deserve and 46 per cent say it is because they are going somewhere on their wish list this year," according to TripAdvisor 'TripBarometer' study.
The TripBarometer study is a global accommodation and traveller survey, conducted on behalf of TripAdvisor by independent research firm Ipsos analysing more than 44,000 global responses from travellers and the hotel sector, with 1,037 respondents from India.
"Against the conducive backdrop of general optimism about the prospects of the Indian economy, both travelers and hoteliers are expressing clear intentions that paint a positive picture for the Indian travel sector in 2015. Significantly, this optimism looks set to translate into a sharp spike in the number of Indians travelling abroad this year," TripAdvisor India Country Manager Nikhil Ganju said.
Only 23 per cent Indians said they are decreasing their travel spend this year largely driven by financial factors. Further, 37 per cent of those Indians cutting their spend this year say they do not have enough money saved, while 33 per cent are planning a shorter trip and 27 per cent plan to visit less expensive countries.
Travellers from India reported spending an average of Rs 2,02,500 on their holidays in 2013. Looking at 2014 spend, it increased by 8 per cent to Rs 2,17,800. However, the current study reports a more positive trend, with Indians planning to spend an average of Rs 2,55,100 on travel in 2015, up 17 per cent year over a year, it said.
Most Indians, the survey found have their sights set on foreign shores with the average number of international trips set to increase by 45 per cent, which far exceeds the global average of 15 per cent.
Other than India, travellers in Turkey and New Zealand are showing the highest increase in the average number of international trips they are planning this year, 58 per cent and 39 per cent, respectively.
Russians, Thais and Austrians are, however, decreasing the average number of international trips they will take in 2015 by 9 per cent, 6 per cent and 4 per cent, respectively. Globally, however, domestic travel still outpaces international travel, as nearly 60 per cent of all trips planned in 2015, will be taken in travellers' home country.
About 61 per cent Indian travellers say they are saving money to go on their dream holiday, 37 per cent are waiting until they have more time to explore the destination properly and 27 per cent are waiting for prices of flights to improve.
Only 11 per cent Indians (compared to 16 per cent global travellers) say currency exchange rates are a barrier for hoping to visit their dream destination, it stated.