Tourism Breaking News
WanderOn, a new age tech travel company shared a survey on the Indian Travel Experiential Market. The company stated that the major force that will be driving the market would be Indian youth, and the experiential travel market is expected to reach USD 45 billion by 2027. This includes solo trips, guided tours, concerts, cultural immersions, and offbeat destination experiences that resonate deeply with Gen Z’s preference for meaningful and personalised journeys.
India’s tourism industry is undergoing tremendous transformation and emerging as a leading economic contributor to GDP’s growth in the country. Aspirational spending in today’s youth is one of the huge contributors to the overall numbers of travel industry. As per reports, around 93% of young travellers are now decision makers when it comes to planning trips or family vacations. As per WanderOn’s consumer data, around 65% of the revenue is generated from the younger population. There is a broader evolution in travel experiences as Gen Z is not shying away from booking luxury rail rides or cruises.
Govind Gaur, Founder & CEO, WanderOn said, “Nearly 50% of our customers have travelled with us more than 7 to 8 times, over the past 2–3 years. Nearly 60 to 65% of our revenues are coming from the younger generation within the age group of 18 to 35 years. We are witnessing a rising demand for curated, hassle-free, and immersive travel experiences, particularly among the 18–45 age group. This segment is a key driver of our revenue, consistently seeking innovation, excitement, and unique adventures that go beyond conventional travel.”
“When we started, our average ticket size ranged from INR 12,000 to 16,000, which has now nearly doubled. We are looking forward to taking this growth even further by offering more premium, customised experiences that cater to evolving traveller preferences and serve our ever-expanding community,” he further added.
The travel industry is experiencing significant growth, fuelled by domestic tourism, which soared to 2.5 billion visits in 2023. The industry is projected to grow by US $125 Billion by 2027. And Gen Z is going to take a significant of this consumer segmentation.
Solo trips are defining the Gen Z today, which showcase their strong desire for independence, self-discovery and experiential exploration. Unlike previous generations, Gen Z prioritises personal growth and meaningful connections. Exploring new destinations, offbeat places, trying local cuisine is what this Generation is aspiring for, and they do not mind spending on life’s experiences rather than saving all their money for retirement.
