India to take 5th place in outbound travel spend and become 3rd largest domestic market by 2027: Bernstein report

Highlighting India’s growing importance in the global travel market, Bernstein in its report said, “India is on its way to emerge to 5th place in outbound travel spending by 2027, reaching $89 billion compared to its current 10th position at $38 billion in 2019. The country is also expected to become the 3rd largest domestic travel market by 2027, with expenditures reaching $174 billion, up from $127 billion in 2029 when it held the 5th position.”