Digital Travel Sales in India Will Top $22.5 Billion This Year
Digital travel sales in India will total $22.52 billion in 2017, up 33.0% over the previous year, according to eMarketer’s latest forecast on worldwide digital travel sales.
The effect of last year’s demonetization effort, which led to a dramatic drop in India’s retail ecommerce sector, has helped to drive digital travel sales in the country, and as a result has led eMarketer to increase its estimates since the previous forecast.
Online travel agencies such as MakeMyTrip and Yatra have not only managed to overcome the impact of demonetization, but have also capitalized on the changes to the currency laws. As a result, consumers in India have embraced buying their travel tickets online.
Digital travel sales in India, which include airline, car rental, cruise, hotel, accommodations (including Airbnb) and transportation, are expected to continue an upward growth trajectory, increasing by a third this year. By 2021, sales will reach an estimated $39.09 billion.
Elsewhere in Asia-Pacific, China continues to lead the pack, with digital travel sales expected to exceed $113 billion in 2017. Asia-Pacific as a whole is the most established region globally when it comes to online travel outlays. This year, digital travel sales will reach $214.07 billion, putting Asia-Pacific ahead of North America’s projections for the first time.