As we all know that the traveling industry is growing rapidly in India. And after the penetration of smartphone and internet, the inactive group of India travelers has also been significantly influenced to book trips, domestic, and international flights online.
Recently The Economic Times reported that Indian travelers booked 52% more trips in the span of July-December 2016 than the same period last year in 2015, as per the report abridged by Makemytrip (one of the leading online travel portals of India).
Here is the set of major trends observed by the portal through this report:
- A significant portion of Indian travelers has now become increasingly younger with almost 17% being in the age group of 18-24 compared to only 12% last year.
- The trend of offline is shifting to online in the travel industry because of the smartphone penetration and its adoption led by the young Indian passengers.
- Also, the rate of repeat individual travel is on the rise.
- Almost 57% more customers traveled in the second half of 2016 as compared to the same time period in 2015. And surprisingly, 56% of all customers using the app as a medium for all their travel bookings.
- This led to an almost 1.7 times growth from 33% last year.
The interesting aspect of the report is that it has observed a surge in last-minute booking which shows Indians are still reluctant when it comes to planning their trips well in advance.
As far as the growth of hotel industry is concerned, Hotel transactions witnessed a rise of 145% with the highest growth seen in the budget category hotels. On the other side, the 3-start hotel category seen highest transactions in terms of volumes. Those of you interested in booking domestic hotels or flights can check Makemytrip coupons to avail the discount benefits.
For international hotels, the transactions saw a rise of almost 59% with half of the bookings being done in the category of 4 and 5-star hotels. And the report also suggests that 3-start category in the international segment saw the highest growth.
And not only the consumer base but the revenue earning opportunities are also increasing for major players like Cleartrip, Makemytrip, Yatra etc. As Cleartrip saw 32% jump in its revenue in fiscal 2016 that is Rs 253.7 crore. But here is the downside for these companies is that they do have to opt for discount offers to retain the customer which eventually led companies to book losses. Despite the jump in revenue, Cleartrip doubled its losses for year ending March 2016 to Rs 64.6 crore from Rs 29 crore. Here you can check out Cleartrip coupons for various categories that include hotel booking, domestic, international flights. And this aspect is increased after the arrival of meta searches like Trivago and Google flight that forces the online travel agents to offer more discounts.