The market cap of Nasdaq-listed MakeMyTrip, India s largest online travel platform, jumped from $2.9 billion in December-end 2022 to $4.9 billion in December-end 2023, reflecting the significant growth of India s travel and tourism industry.
EaseMyTrip, operated by Easy Trip Planners, wants to focus on enhancing profitability in the current fiscal year. The travel-tech platform is targeting a compound annual growth rate (CAGR) that is double the market s expected 10-15%.
In 2019, the Indian tourism sector accounted for 79.86 million jobs (direct and indirect employment). The consistent efforts of central and state governments have helped the tourism industry to gradually recover from the Covid-19 shock to pre-pandemic levels.
70% of the spends today are on experiences and probably 50% of that is on gastronomical experiences, Haitham Mattar managing director, IMEA for InterContinental Hotels Group said