The travel market in India, SEA, and GCC is expected to continue growing in the coming years, presenting opportunities for both domestic and international travel companies. However, the ongoing COVID-19 pandemic has had a significant impact on the industry, with travel restrictions and border closures causing a sharp decline in tourism across the globe.
India has a rapidly growing travel market, driven by rising incomes and a burgeoning middle class. While the Southeast Asian travel market is also experiencing rapid growth, thanks to the region’s natural beauty, rich cultural heritage, and affordable prices. Thailand, Indonesia, and Malaysia are some of the most popular destinations in the region, attracting millions of tourists each year.
Further, the growth in Gulf Cooperation Council is fueled by luxury tourism, business travel, and religious tourism, with Mecca and Medina in Saudi Arabia being popular destinations for Muslim pilgrims.
Here’s a report on how these countries are all significant contributors to the global travel industry.