A study has shown that 90% of Indians would be willing to forego luxuries to fund their vacation, which is in line with global consumers' willingness to make sacrifices in order to go on holiday (88%).
But fewer Indian travellers are planning to increase their travel budget next year, compared to 2013, despite more than half (57%) stating that they are optimistic about the economy in 2014.
According to the study announced by TripAdvisor, Indian male respondents are more willing to give up nights out than their female counterparts (male: 50%; female: 45%) while both genders are equally happy to give dining out a miss in order to save money for travel (male: 36%; female: 37%) . Indian women are also more inclined than men to cut back on personal shopping in favour for holiday (male: 34%; female 44%).
While 59% of Indians are planning to increase their travel budget next year (globally: 39%) – the figure is down from 76% in 2013.
The study was part of TripAdvisor's traveller and accommodation survey – the TripBarometer. It reveals the leading travel and hospitality industry trends, according to over 19,000 travellers and over 10,000 accommodation business owners around the world. The study is conducted twice a year, and the results are analysed independently by research firm Edelman Berland.
But domestic travel remains top priority among Indian travellers. In addition to spending more, Indian consumers are also looking to take more holidays in the coming year with the number of short vacations plan going up 45% and the number of long vacations increasing by 5%.
According to the TripBarometer by TripAdvisor, 93% of Indian consumers are planning to travel within their home market this year. The main reason for domestic travel, according to Indian respondents, is to discover their own country.
While domestic travel remains dominant, for those who are planning to holiday abroad in the coming year, intra-regional travel will continue to be popular amongst Indian travellers with Asia being the ultimate destination for many, in both near and long term. According to the study, one in two (54%) Indian consumers who have plans to travel abroad in the next 12 months are planning trips within the Asia region. Only 26% and 20% of them intend to visit Europe and North America, respectively, in the year ahead.
According to the study, eight out of 10 Indian hoteliers are feeling optimistic about their business profitability in 2014, which is significantly higher than the global average of 67%.