Cash-rich but time-poor Indians are increasingly embarking on family bonding trips while the millennial generation looks for varied experiences and work-weary corporate India wants getaways.
Thomas Cook (India) Ltd., an integrated travel and travel related financial services company, has said that it saw a vibrant 22% growth this summer with the emergence of such significant trends.
Releasing its Summer Report 2019, the company said India has grown into a spender’s economy and, with travel being leveraged as a clear status symbol, holidays are on the rise. With today’s cash-rich, but time-poor generation opting for travel to bond with their families, parent-child bonding tours are in high demand.
There is a surge in takers for Thomas Cook India’s Theme Park Holidays, outdoors-adventure, music and culture tourism and sports tourism being a significant driver, it said.
Demand has also been growing for trips to Singapore, Dubai-Abu Dhabi, France, Hong Kong, UK, Orlando (USA) and New Zealand as well as newer destinations like Seychelles, the company said in a press release, citing the findings of the report.
The demand among the millennial generation for adventure travel recorded a surge of approximately 28% for experiences like white/black water rafting (New Zealand), scuba diving (Andamans/Malaysia), fissure snorkelling (Iceland); alpine treks/glacier climbs (Switzerland/ Germany/ Canada/Scandinavia).
Additionally, adrenalin highs of sky diving/ bungee jumping/ zorbing/ abseiling (Australia-New Zealand and South Africa) are in demand for their brag worthiness, the report said.
Offbeat destinations and exclusive experiences are growing in popularity. The demand is rising for unique experiences like Vespa tours in Singapore or Segway rides in Spain, horseback trails and shark cage diving in South Africa, and more.
In fact, most millennials prioritise experiences over luxury and economise on transport and accommodation (hostels/apartments over hotels, trains and self-drives over flights), and splurge on local and interest/ passion-based experiences.
A report by the National Sample Survey Office (NSSO)'s first periodic labour force survey (PLFS) reveals that Indians spend the longest hours at work as compared to their global peers. Work-weary business travellers are increasingly opting for short travel breaks to relax and rejuvenate, leading to a strong 33% jump in such trips.
Destinations in demand include Goa, Kerala, Andamans, Himachal Pradesh, Sikkim, Meghalaya (domestic); Mauritius, Maldives, Singapore, Thailand, Dubai-Abu Dhabi, Turkey, Indonesia (international).
Indian travellers are also leapfrogging the transition from a single long annual vacation to multiple short recurring holidays or micro-breaks. Covering a gamut of destinations, each spanning 3-7 days, travellers are availing such frequent micro–itineraries to fuel their travel goals and tick off their bucket-lists, the report said.
The micro-break trend has also seen the rise in last-minute travellers (up by 30%). Indian travellers are gravitating towards on–the–go travel planning and seizing every opportunity to set off on a mini-break.
‘Smart weekend’ destinations on the Indian travellers’ radar are Goa, Pondicherry, Coorg, Alleppey, Hampi, Udaipur, Manali, Nainital and Dharmshala among others; equally short-haul or visa friendly international destinations such as Singapore, Dubai, Abu Dhabi, Malaysia, Thailand, Bhutan, Nepal, Indonesia, Maldives, Mauritius, Hong Kong-Macau.
Experiential luxury travel has also grown by 15-20% and has expanded to include exotic destinations like Iceland, Kenya, Tasmania, Korea and Japan and along with eclectic experiences.
These include a classic vintage car drive along the French Riviera or Ferrari self-drives in Maranello, Italy, private wine tasting experiences in South Africa, a private yachting/speedboat experience on Italy’s Lake Como, breakfast in a hot air balloon/private island dining in Australia.
Also on the agenda are volcano caving tours in Iceland, top-of-the-line spa experiences in Switzerland and an uber-luxe Michelin restaurant chase in Europe. Luxury backpacking also displayed a strong demand.
Such a growing appetite for travel is also seeing a 50-60% growth in travel loans; loans no longer being perceived as a taboo for travel. The data has further highlighted a surge, especially from young travellers between the age group of 25–35 years, who believe in instant gratification.
It indicates an average transaction of 20-25 loans per month for an average loan of Rs 1 lakh. Some of the factors driving the demand are diverse offerings, ease/ convenience and children-centricity, novelty and unique experiences along with social media, discounts and easy visa/visa-on-arrival facilities.
The traveller survey also detected a strong shift in source markets to regional Tier 2 and 3 cities/ towns. While metro/ mini-metro cities (such as Mumbai, New Delhi, Hyderabad, Bangalore, Ahmedabad and Chennai) continue to witness an increase in demand with 20% growth over last year, Tier 2 and 3 markets (Amritsar, Karnal, Guwahati, Ranchi, Aurangabad, Vishakapatnam, Hubli, Udaipur and Vijayawada) have showcased a high growth in demand upwards of 30%.
Speaking about the strong growth in summer holiday bookings, Rajeev Kale, President & Country Head – Holidays, MICE, Visa, Thomas Cook (India) Ltd., said, “While summer has always been a peak travel season, this year, we have noticed a significant growth in bookings of 22% as compared to the previous year.
“Among others, one of the key highlights of this season there has been a definitive increase in the range of traveller segments, each one unique and clear about what they seek from their holidays. Indians are no longer shying away from spending, with an increased demand observed for travel loans to fulfil their travel aspirations,” he added.
“A key highlight has been the shift from a saver’s economy to a spender’s economy with the rise in the number of vacations Indians take as a family each year. Combined with their willingness to explore unchartered territories, and demand for immersive experiences, travel brands and services are being pushed to reinvent the wheel even during the peak season to capture consumer attention. This is a positive development not just for consumers, but the industry as a whole,” he said.
“To help our customers plan a perfect summer holiday, this year Thomas Cook India launched over 100 road shows across metros and mini metros showcasing handpicked product offerings catering to the distinct audience in every source market,” he added.
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(Our News Desk can be contacted at desk@netindian.in)
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