Tuesday, April 16, 2024

ATM 2024 to focus on India’s outbound tourism potential

With the Indian outbound market forecast to be worth $143.5 billion annually by the end of this decade, the Indian tourism sector will come under the spotlight during Arabian Travel Market (ATM) 2024, which returns to the Dubai World Trade Centre (DWTC) for its 31st edition from May 6-9.

According to a report by booking.com and McKinsey, 70 percent of Indians traveling overseas choose nearby destinations, with one-third choosing destinations in the Middle East.

The UAE is the top regional destination, followed by Saudi Arabia. According to the DET, India is Dubai’s top source market, with 1.9 million visitors in the first 10 months of 2023. Saudi Arabia is aiming for 7.5 million visitors by 2030.

To illustrate the sheer size and potential growth of India’s overall outbound market, before the pandemic in 2019, Indians made 26.9 million overseas trips; the report predicts that by 2030, that number could increase to 50 million departures.

Danielle Curtis, Exhibition Director ME, Arabian Travel Market, said: “The boom in outbound travel from India is being driven primarily by the growing middle class. In 2020, only 37 million households had annual income between $10,000 and up to $35,000, but due to India’s rapid economic growth, by 2030 that number will rise significantly to 177 million households.

“More specifically, households earning over $35,000 per annum will also increase from two million in 2020 to 13 million by 2030, a sixfold increase!

“And with India’s median age being just 28 years, it’s little wonder that the UNWTO recognizes India as one of the top three fastest-growing outbound markets in the world.

By 2030, India’s total travel expenditure will be valued at $410 billion.

“Putting that into perspective, prior to Covid, in 2019, it was worth just $150 billion, an increase of 173 percent.”

Furthermore, it is not just the volume of Indian travelers that is getting Middle East destinations excited. According to a survey by Acko Insurance, the majority of Indian travellers who responded were willing to spend up to $7,000 on international trips.

Another reason already alluded to is the close proximity of the Gulf states, Dubai is the most popular city destination for Indian travelers, just three hours flight time from Mumbai. In addition, increased connectivity and affordable air travel from tier-two cities are also driving demand, particularly direct flights with low-cost carriers.

“And with over 8.5 million Indian expatriates currently working in the GCC, business travel and bleisure, will undoubtedly underpin this growth,” added Curtis.

ATM 2024 is expecting a record number of travel professionals representing outbound as well as inbound travel to India. Delegates, exhibitors and attendees will be given ample opportunity to network and make new and business contacts as well as the opportunity to explore the Indian travel sector through various show features, including a dedicated India Summit, which will look deeper into this vibrant market.

ATM 2024 will feature a dedicated India summit entitled, ‘Unlocking the True Potential of Inbound Indian Travelers, ’ which will take place at ATM’s Global Stage on Day 1 of the show, Monday 6th May, from 14:45 to 15:25 in conjunction with VIDEC Consultants Private Limited. The Summit will explore the dynamics of India as a key source market for tourism growth, as well as current and future opportunities.

Last year’s ATM hosted several high-profile exhibitors from India, including Air India, who exhibited for the first time, the Goa Department of Tourism, Madhya Pradesh Tourism Board, Uttar Pradesh Tourism, Karnataka Department of Tourism, Odisha Tourism and Puducherry Tourism. This year, with an anticipated 20 percent increase in exhibitors from India expected TBO.com, Taj Hotels, Rezlive, and Rategain have already confirmed. New exhibitors to feature in the 2024 edition of the show include Verteil Technologies, Tulah Clinical Wellness, ZentrumHub and The Paul Resorts & Hotels.

In line with its theme, ‘Empowering Innovation: Transforming Travel Through Entrepreneurship’, the 31st edition of ATM will once again host a range of stakeholders from across the Middle East and beyond.

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