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June 21, 2024
Travel & Tourism

‘Impulsive Travel’ takes Precedence: Young Indian Globetrotters Chase Once-in-a-Lifetime Adventures

Young Indian Globetrotters

FINN Partners unveils #FutureofTravel report – Impulse and affluence: Understanding spend trends among India’s young globetrotters
90% respondents indicate they have embarked on a spontaneous travel

United Arab Emirates and Saudi Arabia emerge as the top destinations preferred by Young Indian Travelers
United States and Canada remain considerable untapped potential destinations for young Indian travellers

Key Highlights:

What triggers young Indians to allocate more budgets – Unique and exclusive experiences (63%), luxury and indulgence (61%), and tech-based travel (51%)
46% of young Indian travellers would pay more for hotel convenience while 48% would spend more for eco-conscious health and wellness programs
63% of respondents prioritize experience and choose to fly premium economy, business, or first class on international trips

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+ 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,” says Shivani Gupta, Managing Partner, FINN Partners, India

Key highlights from the report:

Spending drivers: Unique and exclusive experiences (63%), luxury and indulgence (61%), and tech-based travel (51%) 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% 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% of young travellers willing to pay extra for hotel amenities that enhance convenience, while 48% 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,” says Debbie Flynn, Global Travel Lead at FINN Partners

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