middle class: India’s growing middle class poised to transform travel landscape

Ayn Rand had long been rooting for the bourgeoisie. She famously said, “Upper classes are a nation’s past; the middle class is its future.” That seems to be coming true, if not fully, at least partially. India’s growing middle class is set to be in the pilot’s seat, steering change in the way it travels. Globally, the middle class is already the largest spender. India is expected to become the fourth largest global spender on travel by 2030, and by then the middle class, with increased purchasing power, will make 47% of its population, say reports by Booking.com-McKinsey & Company, and People Research on India’s Consumer Economy-India’s Citizen Environment (PRICE-ICE), respectively. A middle-class Indian household has been defined by the latter as one earning between `5 lakh and `30 lakh annually (based on 2020-21 prices).India’s total travel expenditure is set to touch $410 billion in 2030, according to “How India Travels”, the report by Booking.com and…