Leisure travel spend to reach US$ 432.3bn by 2028

A recent report by India Brand Equity Foundation on tourism and hospitality revealed that the share of revenues from leisure travel to the total tourism revenue stood around 94.8 per cent in 2018. According to statistics shared in the report, leisure travel spending reached US$ 234.16 billion in 2018 and is expected to reach US$432.3 billion by 2028. On the other hand, business travel revenues were US$ 12.84 billion in 2018 and are projected to increase to US$ 24.4 billion by 2028.