Vishal Suri
India’s travel & tourism industry will witness high growth over the next two years as there is a strong desire among local travellers to explore new destinations, Vishal Suri, managing director of SOTC Travel Ltd, tells Arshad Khan of TNIE. Unlike the general perception that foreign destinations such as Thailand, Vietnam and Dubai are impacting the popularity of domestic centres such as Goa or Kashmir, Suri says there is enough room for growth for everyone.
Excerpts:
How has been the recovery for you after the lull during the pandemic?
Before the pre-pandemic struck, the market was growing at a CAGR of 10-12%. Then Covid happened. However, the recovery has been phenomenal. Last year (2023), business travel was more than 110% compared with 2019 and MICE business was 120% of 2019. Leisure, holidays, and domestic businesses grew 30-40% in 2023 over pre-pandemic levels.
While domestic and short-haul destinations led the recovery, the long-haul part of our business, which…
