India, Eastern Europe and Southeast Asia are emerging as formidable sources of outbound holidaymakers, challenging the dominance of the established markets. India stands out among these, with a rapidly growing middle class that’s spending more on travel.
This is not a fleeting trend but a fundamental shift that could transform global travel. Southeast Asia’s travel spending is projected to grow roughly 7% a year, with pockets of higher growth in Cambodia, Malaysia and the Philippines. India’s spending on outbound travel is expected to grow even faster – from $176 billion in 2023 to $319 billion in 2030, at a compound annual growth rate (CAGR) of 9%, according to data from Oxford…
