 "Indian travellers want to explore foreign shores in 2015")
Indians have their sights set on foreign shores with the average number of international trips set to increase by 45% which far exceeds the global average of 15%, said the result of TripBarometer study, a survey conducted by TripAdvisor.
According to the study, more than half (53%) Indians will increase their travel budget in 2015.
Of those planning to increase their travel spend, 52% indicate that they plan to do so because they feel vacations are something they or their family deserve and 46% say it is because they are going somewhere on their 'wish list' this year.
Indians planning to spend an average of Rs 255,100 on travel in 2015, up 17% year over year. Travellers from India reported spending an average of Rs 202,500 on their holidays in 2013. Looking at 2014 spend, this number increased by 8% to Rs 217,800.
"Against the conducive backdrop of general optimism about the prospects of the Indian economy, both travelers and hoteliers are expressing clear intentions that paint a positive picture for the Indian travel sector in 2015. Significantly, this optimism looks set to translate into a sharp spike in the number of Indians travelling abroad this year. At the same time, Indian hoteliers ranked second on the global hotelier confidence index, resonating their own confidence in the economy's prospects," said Nikhil Ganju, Country Manager, TripAdvisor India.
With business optimism on the rise, India hoteliers are also planning to spend more in revamping their properties in 2015. Nearly seven in ten Indian hoteliers (67%) plan to invest more in small scale renovations such as refurbishments, compared to nearly half (47%) planning to spend more on large scale makeovers such as remodelling.
Half of all businesses globally (50%) and in India (49%) intend to increase their room rates in 2015 - often a strong sign of health in the sector. In looking across the globe, South Africa (72%), Austria (68%) and Brazil (68%) are the most likely to raise rates, with over two thirds of businesses in these markets planning increases.
Accommodations in China will see the biggest reductions in 2015, with 18% of hoteliers planning to decrease room rates, but not by more than 10%.
According to the study, two-thirds of Indian hoteliers (67%) say the national economy will have a positive impact on their profitability in 2015 and a similar proportion of businesses (64%) cite they will benefit from decrease in flight fares as well as changes in transport connection.
"This year's TripBarometer reveals a rising confidence in the global hotel sector, with one in two hoteliers raising room rates and a significant growth in optimism worldwide," said Marc Charron, president, TripAdvisor for Business. "Increasing repeat business, driving more direct bookings, and encouraging online traveller reviews will be key themes for the hotel sector this year."
The TripBarometer study is the analysis of more than 44,000 global responses from travellers and the hotel sector, with 1,037 respondents from India.