The travel industry is poised for a revival after a lacklustre few years, with a surge in demand among travellers. According to a recent report from tech-first insurance company ACKO, 31 per cent of Indians are expected to take international trips in 2023. The ACKO Travel Index 2023 released in association with YouGov, surveyed 1,000 respondents aged between 24 and 45 in seven major Indian cities, identifying key patterns of travel consideration among Indians.
As demand for travel surges, the report reveals that 48 per cent of Indians will increase their budget for travel in the coming year, while 37 per cent will increase the duration of their trip to take advantage of every opportunity and embark on extraordinary adventures. For domestic travel, 44 per cent of Indians will allocate increased budgets post-pandemic, 31 per cent will take more domestic trips in 2023-24, and 30 per cent will increase the trip duration.
According to the report, approximately 71 per cent of respondents are willing to spend INR 1-6 lakh on their international trips, while domestic travellers prefer to spend up to INR 1 lakh. The report also highlights a significant shift in the behaviour of travellers, with cleanliness now being of utmost importance in every aspect of trip planning, followed by flexibility and convenience. Respondents also expressed a desire to avoid crowded spaces.
Speaking at the launch, Brijesh Unnithan, SVP, Embedded Insurance, said, “We wanted to understand how Indians plan to travel in 2023 and how their travel preferences have changed over the past couple of years. The survey clearly shows that now travellers are more concerned about convenience and flexibility, and they are ready to spend more for the experience. It is great to see that Indian travellers understand the importance of travel insurance and know what to expect from a policy. Travellers are now more conscious about their well-being on a trip and are demanding customised insurance products that match their needs and expectations. They want products which give them confidence that they are sufficiently prepared for any eventuality.”
The report also found that 60 per cent wanted to go on an international trip while 40 per cent wanted to plan only a domestic journey.
Talking about the rising demand for bus travel and tickets across routes, Rohit Sharma, COO, AbhiBus said that the travel fervour has remained strong after the summer season. “The Eid long weekend coincided with the monsoon, and as a result, an astonishing 30 million passengers chose buses as their preferred mode of transportation between cities,” he said.
