A report from Mastercard’s Economics Institute, entitled “Travel Trends 2024: Breaking Boundaries”, said Indian outbound travel to Vietnam during January-March skyrocketed by 248% against the same time in 2019, followed by the US and Japan.
Despite the strengthening of the USD, the outbound Indian travel segment has flourished due to an expanding affluent consumer base seeking luxury experiences. The report reveals that the evolving spending patterns mirror the nations’ growing disposable incomes and aspirational lifestyles.
While a strong dollar may have diverted tourists away from the US, Indian passenger arrivals surged by 59% compared to the 2019 level.
In the same vein, Japan witnessed a record 50,000 Indian visitors during the period, up 53% against the 2019 figure.
Vietnam, which recently added direct flights, saw a 2.5-fold increase in Indian travel.
In the first quarter of 2024, Indian airports witnessed a record 97 million passthroughs for both domestic and international air traffic, marking a significant increase compared to a decade ago, when attaining such numbers would have demanded an entire year's time.
