Skift Take
Younger generations form the biggest traveler base in India, and are key to the country’s growth as a source market. Millennials’ willingness to spend more on travel is a positive sign for their tourism economies of their destinations.
A new report by payment network Collinson International has shown that Millennials in India are spending an average of $6,031 on travel annually, more than any other generation. The next highest is Gen X at $3,059, followed by Gen Z ($2,622) and Boomers ($2,600).
Travel is the second-highest spend category for Millennials and it accounts for 34% of their annual expenditure, according to Collinson. They also actively look for travel benefits when selecting a credit card, especially earning and redeeming miles, having access to airport lounges and travel experiences, and travel insurance.Â
Millennials, along with Gen Z, are leading India as a source market. In June this year, Airbnb said that it had recorded an over 60% increase in bookings from Indian guests for Thailand. Of these, Gen Z and Millennials accounted for 80% of the bookings.
Despite spending more on travel, Millennials are generally cost conscious, even as they seek unique experiences. Budget is the most important consideration for the young travelers, as more than half of the youth prefer to use their own money, including income and personal savings, for these travels, online travel search platform Skyscanner said earlier this year.
A recent report by online visa application platform Atlys also said that Indian Gen Z and Millennials prefer traveling in the off-season to reduce costs and avoid crowds. Young travelers are traveling to attend international events, the platform said in its report.
Radissonâs Move to Capture Sports Hospitality Market
Radisson Hotel Group has announced a strategic partnership with Bengaluru Football Club for the 2024-25 season of the upcoming Indian Super League. During the partnership, the team will stay at Radisson hotels in select destinations that they will travel to during their matches.
Radisson will also offer discounted tickets and merchandise to Radisson Rewards members during the season. The team will, in return, feature the Radisson groupâs logo on their jersey.
The hotel chain has been tapping into the sports hospitality market. Earlier this year, the group signed Indiaâs first cricket stadium hotel â a Radisson Blu hotel in Nathdwara, Rajasthan.
Radisson also has a âSports Approved Program,â with services and amenities including kitchen access for team chefs, secure storage for equipment, and private meeting spaces. The company currently has eight hotels located near major sports stadiums across India.
IndiGo, Amadeus Enter Into NDC Partnership
Low-cost carrier IndiGo and travel technology company Amadeus have entered into a New Distribution Capability (NDC) partnership. With this, travel sellers under Amadeus Travel Platform will be able to access IndiGoâs NDC content.
NDC technology allows airlines to distribute their standardized content to travel sellers efficiently. It also simplifies the booking process for corporate travelers and travel agencies by providing direct access to the airlineâs – in this case, IndiGoâs – range of products.
Cleartrip Records 150% Growth in Bus Category
Online travel company Cleartrip has recorded a 150% growth in its bus category business. The company said that the demand for bus travel is strong in India, especially in Tier 2 cities. The company noted that the bus category recorded the highest number of frequent travelers, with 32% of users repeating their bookings in the last three months.
It has launched âBus Passâ to capitalize on this demand, in what it terms a âcost-effective solution.â The decision to launch a bus pass was based on the observation that 75% of bus travelers used discount coupons while booking.
BLS International Acquires Citizenship Invest
Indian visa and consular services company BLS International has signed an agreement to acquire 100% stake in Dubai-based advisory firm Citizenship Invest. Citizenship Invest specializes in fast-track investor programs that help in obtaining residence and citizenship across over 15 countries.
The transaction has been valued at $31 million. With this, BLSâ portfolio has expanded to include long-term visa solutions, including residency and citizenship.
