Indian Outbound
With 30 million passport holders, Indian outbound travel is registering a CAGR (compounded annual growth rate) of 13% between 1996 till 2011; has maintained the trend thereafter.
India is predicted to send 50 million outbound tourists by 2020. (UNWTO and ETC data) as India's GDP is currently over 5%; India is marked as a stable and growing major economy of the world. India is moving from a savings society to a consumer society and travel gets a fair share of disposable income among the 350 mn affluent middle class and above. Evidently India has over 153000 millionnaires and close to 8000 super rich.
International tourism expenditure (US$bn) from Indians is US$ 16 bn which is among the top 23 countries of the world. The number of outbound visitors by 2011 was approximately 15 mn.