Based on the travel reaches of its over 10 crore active users, MakeMyTrip in its ‘India Travel Trends Report’ revealed 25% increase in the number of people taking more than three trips a year. International bookings are once again being made well in advance instead of sudden travels during the tumultuous 2020 and 2021, the report added.

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The Sankalp Patra of the ruling BJP for 2024 promises to roll out various programs in the tourism sector to help generate employment. One among them is to showcase the richness of Indian weddings and highlight cultural exchanges through the ‘Wed in India’ campaign which will promote select destinations across India as preferred venues.

According to RBI, “40 scheduled banks have cumulatively doubled their lending to the aviation sector in January at ₹45,076 crore, as against ₹23,407 crore three years ago. Investments from other sources stood at ₹27,824 crore in January 2023, up 62% year-on-year, and continued to rise gradually during FY24. Industry analysts attribute this surge in investments to the following factors, among others.”

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Rajnish Kaistha, Sr. Vice President, IATO said, “With the blessings of the government and the CM, the 39th IATO Annual Convention is scheduled to be held in Madhya Pradesh’s Bhopal from 30 August to 2 September 2024. The idea is to bring better connectivity to Bhopal and put it onto the global tourist map.”

Ruhani Duggal, Director, Vilasa Luxury Travel, said, “Minar is now venturing into the US market. We have been present in Latin America for 7-8 years. Hence, we have expanded our footprint in the US with an office in New York and one more in the Middle East. We have also opened an office in the Middle East. This year, we are going to focus more on development and are excited to explore Northeast and Ayodhya as part of our itineraries.”

Talking about the growth of hospitality in India, Mark Hoplamazian, CEO, Hyatt, said, “India today is better poised for growth in the hospitality sector than the rest of the world, and that is because of the tremendous warmth and engagement of its people. The experience people get in India when they disembark from the plane and start exploring the country is what sets the country apart.”

After facing significant flight disruptions recently, Vistara CEO Vinod Kannan, said, “Vistara has cut 10% of its flights until May 24 to stabilise operations with its on-time performance increasing to 89% on April 9, 2024.” He added that things could have been planned better but it has been a learning experience.

Indian aviation industry is set to scale new heights. According to a recent report by ICRA, the domestic air passenger traffic is estimated at 154 million for FY2024, which represents a YoY growth of 13%, in line with ICRA’s estimates. Further, the domestic air passenger traffic in FY2024 has surpassed the pre-Covid levels of 142 million in FY2020 as well.