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Indian travel market to be worth $20 billion by 2020
India’s global tourism increase is attracting new tech business to the country. More people are venturing outside of India on holidays, opening up a new market for holiday marketplace apps, such as TravelTriangle. As a result of this growing market, TravelTriangle has attracted 10 million US dollars of investment, which it says will go towards hiring more employees assisting in achieving its aim to offer consumers 100 different global holiday destinations. According to Raghav Bahl of Bessemer Venture Partners, the Indian “outbound leisure market is estimated to be about $10 billion, which [is] conservatively set to double by 2020”. He also added that currently 65 million Indians hold passports, with only 18 million going abroad in 2016, leaving the market open for high levels of growth.
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