Travel agents market in India to be valued at $40 billion by 2022

The Indian travel agents market is expected to reach USD40 bn by 2022, as per a latest study by KPMG and Google. The share of Online Travel Agents (OTAs) is set to increase to 47 per cent in 2022. Currently OTAs in India cater to a range of travel related booking services –airlines, accommodation and lodging, package holidays, cab rentals, cruise sales, travel insurance and other transport services. This includes both leisure and business travel sales. Leisure travel forms a majority of sales for OTAs and continues to remain the focus for major Indian OTAs in the near future. Few players in the accommodation and cab rental spaces maintain their own inventory. While aggregators are focused on on-boarding service providers onto their platform, players with own inventory are more focused on differentiating via service quality.