TBM Staff - Mumbai UserTesting, a video-based human insight, conducted a survey to understand consumer travel trends during this holiday season. The survey revealed that ongoing inflation has had a massive impact on the travel plans of Indians due to price hikes across the globe. Out of the 80% of Indians making travel plans this holiday season, about 60% stated that due to rising costs, they were forced to significantly reduce their travel budget and limit spending this holiday season.
The survey also revealed that 60% of Indian respondents indicated an uptick in flight and train costs, while 20% reported that accommodation costs have had the sharpest hike. They further mentioned that to keep up with the rising costs, they are cutting down the frequency of their vacations.
Indians Prioritize Domestic Over International Travel
With the consumer spending power substantially decreasing, 80% of Indians are opting for travel in India itself to stay within their travel budgets. Here, the most popular money-saving tactics include choosing cheaper destinations and accommodations (40%), participating in less expensive activities (30%), and taking fewer trips (20%).
Beaches Are The Most In-Demand Travel Destinations
After a two-year-long halt in travel plans, people across the world are striding back to the pre-pandemic normal. Indians are also showing confidence in planning vacations to their dream destinations this holiday season. According to the survey, 50% of Indians prefer beaches over mountains (40%), while only 10% wish to visit the countryside.
Another interesting finding revealed that 80% of Indians will be taking their next vacation with friends instead of family (20%).
The Evolving Travel Preferences of Indians
One of the most powerful impacts of COVID-19 was a change in consumer lifestyle and priorities. Related to this change, Indians are now giving prime importance to savings. Interestingly, the survey found that over 80% of respondents are cost-cutting by traveling in buses and trains instead of taking expensive flights on their next vacation.
When asked about the type of trips they are planning, 20% of Indians indicated taking simple low-key vacations to visit family/friends. On the other hand, 30% are showing keen interest in luxury travel with maximum amenities with minimum inconvenience.
Interestingly, out of the Indians who are not traveling, 60% prioritize savings, whereas 30% plan to make personal expenses. The remaining 10% intend to make bigger investments such as property, jewelry, etc.
