India Outbound Tourism Market Growing At a Rapid Pace
India's tourism industry, be it inbound, outbound or domestic - every segment has witnessed rapid changes especially in the last eight years. Indian outbound tourism is growing at a rapid pace surpassing all other segments in the travel and tourism industry. Outbound tourism can hardly diminish as a product or an experience since the discerning global traveler will always have the choice of new destinations and experiences. Now countries and destinations worldwide are looking to grab a share of this ever-expanding market. Indians are globetrotting the world like never before. The Indian outbound tourist’s number was mere 4.6 Million in 2001 and it reached to nearly 20 Million in 2014. In terms of percentage growth, India is the fastest growing outbound market in the world; in terms of numbers, it’s second fastest after China. India Outbound tourism market will surpass the figure of US$ 40 Billion by 2020. In terms of spending by Indian tourists, United States is the leading c