The travel industry is experiencing a resurgence, driven by trends such as experiential travel, sustainable travel, and solo trips. Experiential travel involves immersing oneself in a destination’s culture, language, and food through local communities, while sustainable travel prioritizes eco-friendly practices and minimal environmental impact. Solo travel is also on the rise, with 70% of millennials and Gen Z planning to take a solo trip.
The use of digital technology is also changing the way we travel, with the development of digital travel credentials that can verify a person’s identity through facial biometrics. This technology has the potential to reduce wait times and revolutionize the travel experience. Indians are also becoming major players in the travel industry, with young aspirational travelers eager to explore the world and spend more money on travel than the global average.
The World Travel and Tourism Council (WTTC) predicts that the sector will contribute significantly to the global economy, but also emphasizes the need to prioritize sustainability and reduce environmental impact. The WTTC report highlights that travel and tourism accounted for 6.7% of global emissions in 2023, down from 7.8% in 2019, and encourages the industry to accelerate its progress towards meeting the Paris climate targets.