Mumbai: New research released by FINN Partners titled #FutureofTravel report explores how India’s under-35 globetrotters are reshaping the travel industry with new spending patterns. These young adventurers are not just ready to explore the world—they are redefining what travel means. Driven by impulsiveness, a readiness to splurge, and a quest for unique, immersive experiences, they are emerging as a powerful influence in the global travel market.
The report delves into the spending behaviours of over 1,000 plus Indian travellers, providing a detailed look at their preferences—from luxury accommodations and premium air travel to wellness and activities. This comprehensive study will forecast emerging trends and shine a light on the opportunities for businesses in travel, hospitality, and fintech to innovate and tailor their offerings. The report uncovers not just where and on what young Indians are spending their travel budgets, but also how they manage the financial aspects of their journeys. It also unveils their appetite for once-in-a-lifetime experiences, willingness to invest in premium air travel and desire for unique or hard-to-find gifts.
“India’s burgeoning economy not only fuels its own growth but propels its citizens into the global wanderlust. As prosperity rises, so does the desire to explore. With a fast-growing economy as its engine, India has emerged as a significant contributor to the global leisure travel landscape. It is not just a leisure activity for young Indians; it’s an integral part of their lifestyle and financial planning. Through this report, our travel practice aims to support stakeholders in their endeavour to fulfill the emerging needs of this sector,” said FINN Partners, India managing partner Shivani Gupta.
Key highlights from the report:
Spending drivers: Unique and exclusive experiences (63 per cent), luxury and indulgence (61 per cent), and tech-based travel (51 per cent) are identified as primary triggers motivating young Indians to allocate higher budgets, underlining the significance of personalized and immersive travel experiences
Destination preferences: The United Arab Emirates and Saudi Arabia emerge as favoured destinations among young Indian travellers, with luxury experiences and adventure sports garnering significant interest, especially among the younger demographic (under 35)
Willingness to spend for ‘Unique Experiences’: A remarkable 42 per cent of young Indian travellers are eager to invest more to transform their once-in-a-lifetime aspirations into immediate realities
Preference for ‘Convenience and Wellness’: Convenience emerges as a priority, with 46 per cent of young travellers willing to pay extra for hotel amenities that enhance convenience, while 48 per cent prioritize eco-conscious health and wellness programs, reflecting a balanced consideration of sustainability and comfort
“As global dynamics shift and travel preferences evolve, Indian travellers are poised to shape the future of global tourism. Our latest insights reveal that building lasting relationships with travellers now can lead to decades of loyalty. We recommend seizing every opportunity to engage them with last-minute deals that spark spontaneity, unique attractions that promise unforgettable adventures, and ensuring every aspect of their journey enhances comfort and convenience,” said FINN Partners global travel lead Debbie Flynn.
