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Business EconomyPosted at: Mar 18 2018 3:25PM


Indian travel market to generate $48-billion by 2020: Study

New Delhi, Mar 18 (UNI) A surge in online tourism industry has been registered which is evolving at a faster pace as compared to previous years, a statement stated.
“With evolution of tech enabled start ups and newer concepts like staycation, adventure tourism, ecotourism, medical tourism and pilgrimage tourism across the country the industry is at the cusp of potential growth, said Deep Kalra, Chairman & Group CEO - makemytrip.com at the recent held 'Incredible 2.O' - the Next Trillion Dollar Opportunity event which was organised by Internet & Mobile Association of India (IAMAI).
Mr Kalra who is also the Vice-Chairman of IAMAI said, “With the growth of tourist inflow, the industry has become one of the main sectors to increase in manifolds growth vis - a - vis other sectors. As more and more people come online, smartphone penetration increases, technological disruptions and use of digital payments has actually changed the dynamics of the industry at large. At present this industry is standing at 2.O knocking the 3.O for the next level to kick off.”
“Technology and digital can help achieve the target. Digital is already playing a major role in the sector with domestic air ticket and railways booking continue to be among top contributors to the Online Travel spends. Online Hotel booking has seen a substantial y-o-y growth of 60%. The Ministry's vision can be fast tracked with the help of technology,” experts observed.
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