Indians have come full circle now and are travelling Maharajah-style, a report indicates. India is showing the highest growth in luxury air travel, says Amadeus travel IT solution leader. This confirms the fact that India’s luxury market has been growing at a rate of 12.8% per year. Outbound luxury travel is expected to be 6.2% which is more than air travel. Luxury travel means first and business class travelling. There has been a spike in luxury travelling, especially for long-bound travels to Singapore, Newark, etc. Just recently, Etihad started the Mumbai-New York flight, which was selling a ticket for $38,000 for one way – the most expensive air ticket in the world.
Earlier this year, another study reported that the ‘Indian luxury market is expected to cross $18.3 billion by 2016 from $14.7 billion growing at a compounded annual growth rate (CAGR) of about 25%’. Several sectors were mentioned, including travel and tourism, five star hotels and fine-dining, electronic gadgets, luxury personal care, and jewelry, according to the Assocham report. The most remarkable growth was seen in Luxury jewelry, electronics, SUV cars and fine dining which showed exponential growth.
While until now, everyone went to India to see how the poor lived the rich have been sneaking on fancy trips to exotic locations. Not much of a slum dog, are they now?
[ Via : Pressreader ]