{"id":16402,"date":"2023-08-08T17:59:33","date_gmt":"2023-08-08T17:59:33","guid":{"rendered":"http:\/\/pulseonline.co\/?page_id=16402"},"modified":"2023-08-08T18:16:22","modified_gmt":"2023-08-08T18:16:22","slug":"thomas-cook-india-sotc-travel-release-india-holiday-report-may-2023","status":"publish","type":"page","link":"http:\/\/pulseonline.co\/index.php\/thomas-cook-india-sotc-travel-release-india-holiday-report-may-2023\/","title":{"rendered":"Thomas Cook India &amp; SOTC Travel Release India Holiday Report &#8211; May 2023"},"content":{"rendered":"<p style=\"text-align: center;\"><strong>The Report Reiterates Highly Positive Consumer Sentiment and Strong Resurgence of Holidays \u00a0<\/strong><\/p>\n<ul>\n<li><span style=\"color: #000000;\"><strong>Increased travel intent in the next 6 months (84% respondents) Vs. 45% pre-pandemic: shorter multiple mini-cations; higher spends<\/strong><\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>Experiences driving demand<\/strong> for over 78%: bucket list elements 65%; gastronomy 45%; outdoor-adventure-fun 50%; culture-history 30%<\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>Powerful growth segments: <\/strong>Regional India-Bharat; Young India (Gen Z &amp; Millennials) and Gen S!<\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>Key considerations: <\/strong>Entry barriers &#8211; Visas (70%); Flexibility with zero change penalties (66%)<\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>High demand for Phygital models<\/strong><\/span><\/li>\n<\/ul>\n<p>Thomas Cook (India) Limited and SOTC Travel surveyed over 3500 consumers, covering a comprehensive market (including India\u2019s metros, mini metros like Pune, Chandigarh, Coimbatore and key Tier 2-3 markets of Jaipur, Indore, Tiruchirappalli, Madurai, Nagpur, Surat, Baroda, Bhubaneswar, Lucknow, Mysore, Visakhapatnam, Guwahati, Patna, etc.), to release the <strong>India Holiday Report &#8211; May 2023. <\/strong>The survey was conducted over a period of one month, and administered via the Companies\u2019 online channels. The India Holiday Report &#8211; May 2023 reflects highly positive travel sentiment with insightful consumer behaviour and travel trends.<\/p>\n<p>Key findings include:<\/p>\n<ul>\n<li><strong>Increased holiday intent<\/strong>: Travel is clearly back on the Indian consumer radar with over 84% respondents indicating increased intent to travel in the next 6 months Vs. 45% pre-pandemic<\/li>\n<li><strong>Multiple shorter trips\/mini-cations: <\/strong>in addition to at least one\/two long annual trips of approximately 10-12 days, 82% respondents indicated preference for multiple (3-4) shorter trips\/minications (domestic and international short haul)<\/li>\n<li><strong>Higher spends<\/strong>: despite supply constraints leading to higher pricing, over 80% respondents displayed appetite for higher spends of approximately 20% Vs. pre-pandemic<\/li>\n<li><strong>High growth segments<\/strong>: While multigenerational families (75%), Couples\/DINKS (62%) continue to display a strong travel desire, high growth segments that are emerging include:<\/li>\n<li><strong>Rise of Young India:<\/strong> As the youngest demography in the world, approx. 65% of India\u2019s population is below the age of 35. Young India (millennials and Gen Z) form the new powerhouse for the sector with highest intent to travel (95%). Concept of YOLO (you only live once) is driving travel demand<\/li>\n<li><span style=\"color: #000000;\"><strong>Gen S<\/strong>: India\u2019s Silvers\/Seniors have significant disposable income post retirement, topped up with funds from their children, and are displaying high travel appetite (58%), especially for premium holidays like cherry blossom tours in Japan and cruises<\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>Regional India-Bharat<\/strong>: Rising disposable incomes + aspirational value of holidays is resulting in strong desire (60%)<\/span><\/li>\n<li><strong style=\"color: #000000; text-align: justify; font-size: 1.8rem;\">Experiences driving demand<\/strong><span style=\"color: #000000; text-align: justify; font-size: 1.8rem;\">: pandemic induced restrictions has increased appreciation for life. 78% respondents opted for experience led travel to create memories of a lifetime with deeper exploration and distinctive local elements Vs. regular sightseeing. These included bucket list destinations\/elements (65%); gastronomy (45%); outdoor-adventure-fun (50%); culture and history (30%)<\/span><\/li>\n<li><strong style=\"color: #000000; text-align: justify; font-size: 1.8rem;\">Surge across both &#8211; domestic and international travel<\/strong><span style=\"color: #000000; text-align: justify; font-size: 1.8rem;\">: While only domestic holidays were preferred by 40% respondents and only international by 66%; a significant 90% opted for both<\/span><\/li>\n<li><span style=\"color: #000000;\">Domestic destinations favoured were Kashmir (60%); Himachal and Uttarakhand (50%), Ladakh (35%), North East (40%) Kerala (25%), Andamans (30%), Goa (30%); Bhutan in the Indian subcontinent (30%)<\/span><\/li>\n<li><span style=\"color: #000000;\">International tourism is witnessing a strong resurgence. Despite visa challenges, Europe is a clear favourite preferred by over 46% of respondents led by Switzerland, France, Spain and Italy. Short hauls (50%) are witnessing rapid growth with increased interest for Thailand, Singapore, Malaysia, Indonesia, Dubai, Abu Dhabi, Oman; island destinations like Maldives, Mauritius (28%). Strongly emerging on the radar are destinations like Japan and S. Korea (25%); also Vietnam-Cambodia due to new flights and increased connectivity (30%). Long hauls like Australia with end-to-end digital visa processes are seeing uptick of 20%. USA continues to face visa challenges and was selected by 8%<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\"><strong style=\"text-align: justify; font-size: 1.8rem;\">Key considerations for travel:<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Visa challenges: formed a barrier for 70% respondents<\/span><\/li>\n<li><span style=\"color: #000000;\">Flexibility: 66% respondents are keen on zero penalties for date changes\/rebooking, etc.<\/span><\/li>\n<li><span style=\"color: #000000;\">Access to multiple\/convenient payment options is of value to 35% respondents (Travel loans, EMI, BNPL\u2026)<\/span><\/li>\n<li><span style=\"color: #000000;\">Health &amp; Safety continues to be a consideration for travellers, however reduced to 30% respondents<\/span><\/li>\n<li><span style=\"color: #000000;\"><strong style=\"text-align: justify; font-size: 1.8rem;\">Mode of travel<\/strong><span style=\"text-align: justify; font-size: 1.8rem;\">: 85% respondents displayed clear return of confidence in air travel with increased demand for air-inclusive packages, 15% for drivecations; cruise holidays\/sea-cations seeing a surge of 70%<\/span><\/span><\/li>\n<li><span style=\"color: #000000;\"><strong style=\"text-align: justify; font-size: 1.8rem;\">Customers opting for Hybrid\/Omni-Channel routes to choose their Holiday<\/strong><span style=\"text-align: justify; font-size: 1.8rem;\">: while digital models continue to see uptick of 66%; 58% respondents require the guidance of a holiday expert and prefer to purchase their holiday through retail outlets; 95% prefer phygital channels (combination of physical+digital models), based on their convenience<\/span><\/span><\/li>\n<li><span style=\"color: #000000;\"><strong style=\"text-align: justify; font-size: 1.8rem;\">Sustainability:<\/strong><span style=\"text-align: justify; font-size: 1.8rem;\">30-35% respondents are becoming more mindful about the environment\/local communities<\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\"><strong>\u00a0Rajeev Kale, President &amp; Country Head \u2013 Holidays, MICE, Visa, Thomas Cook (India) Ltd.<\/strong>, said, <em>&#8220;Holidays are witnessing rapid rebound, with travel clearly emerging as a non-negotiable\/ must-do for Indians! Our India Holiday Report \u2013 May 2023 reveals that not only are multiple mini-cations back for 82% respondents (in addition to 1-2 long holidays), but also that they are willing to pay 20% more. Also noteworthy is the rise of Young India\u2019s Gen Z and millennials; equally Middle India\/Bharat as significant power-centres in the evolution of the sector. The pandemic having created a deeper appreciation for life, the YOLO (you only live once) mindset is driving travel desire: Indians are now seeking immersive travel experiences and wanting to live like a local! This highly positive consumer sentiment will serve a key catalyst to our Teams in creating customized holidays and exceptional experiences \u2013 that build memories of a lifetime!\u201d<\/em><\/span><\/p>\n<p><strong>\u00a0Daniel D\u2019Souza, President &amp; Country Head, Leisure, SOTC Travel<\/strong>\u00a0said,\u00a0<em>\u201cOur India Holiday Report \u2013 May 2023 showcases India&#8217;s strong and growing holiday appetite with 84% respondents reflecting increased intent. With experiential travel being a key driver for over 78% respondents, the deep desire to explore fresh and unique bucket-list opportunities resonated with 65%. The impressive travel appetite emerging from regional India-Bharat has accelerated our focus on this high potential segment via our expanded regional product and vernacular content\/marketing. With the increasing demand for consumer convenience and the comfort of human-touch\/expertise, omnichannel\/phygital channels are clearly seeing high demand (95%). As Indian travellers becoming more discerning in their choices, as a leading travel company, we are committed to meeting their evolving needs.\u201d<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Report Reiterates Highly Positive Consumer Sentiment and Strong Resurgence of Holidays \u00a0 Increased travel intent in the next 6 months (84% respondents) Vs. 45% pre-pandemic: shorter multiple mini-cations; higher spends Experiences driving demand for over 78%: bucket list elements 65%; gastronomy 45%; outdoor-adventure-fun 50%; culture-history 30% Powerful growth segments: Regional India-Bharat; Young India (Gen&#8230; <\/p>\n<div class=\"link-more\"><a href=\"http:\/\/pulseonline.co\/index.php\/thomas-cook-india-sotc-travel-release-india-holiday-report-may-2023\/\">Read More<\/a><\/div>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/pages\/16402"}],"collection":[{"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/comments?post=16402"}],"version-history":[{"count":5,"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/pages\/16402\/revisions"}],"predecessor-version":[{"id":17009,"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/pages\/16402\/revisions\/17009"}],"wp:attachment":[{"href":"http:\/\/pulseonline.co\/index.php\/wp-json\/wp\/v2\/media?parent=16402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}