Market Size of India Online Travel Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 17.24 Billion |
| Market Size (2029) | USD 28.40 Billion |
| CAGR (2024 - 2029) | 10.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Online Travel Market Analysis
The India Online Travel Market size is estimated at USD 17.24 billion in 2024, and is expected to reach USD 28.40 billion by 2029, growing at a CAGR of 10.5% during the forecast period (2024-2029).
India's online travel industry was hit hard by COVID-19. However, long-term growth fundamentals were intact. The pandemic was a major challenge, but it was also an acquisition opportunity for stronger players as the industry consolidated. Domestic tourism, on the other hand, is expected to pick up faster, with plenty of pent-up demand to support a relatively quick recovery. Indian travel firms have reportedly seen a 25%-30% increase in bookings, both for air travel and accommodations, for the Christmas and New Year holidays.
Mobile apps have become a significant channel for travel bookings. Many of the leading travel companies in India have developed user-friendly mobile apps, allowing travelers to book tickets and accommodations on the go.
The online travel industry in India is highly competitive and features several prominent players, including MakeMyTrip, Yatra, Cleartrip, Goibibo, and Booking.com, among others. These companies offer a variety of services, including flight and hotel bookings, holiday packages, car rentals, and more.
