The international passenger transport expenditure from India for the years 2024 through 2028 is projected to grow steadily. Starting at $6.35 billion in 2024, it is forecasted to reach $7.71 billion by 2028. This consistent upward trend reflects a continued demand for international travel. In 2023, the actual expenditure was recorded at $6 billion, indicating a significant year-on-year growth trajectory.
Year-on-year percentage variations are also notable: - From 2024 to 2025: 5.35%- From 2025 to 2026: 5.23%- From 2026 to 2027: 4.83%- From 2027 to 2028: 4.48%
When considering the Compound Annual Growth Rate (CAGR) over the last five years, the annualized average variation per year stands at approximately 5%. This steady annual growth rate indicates a strong and sustained increase in expenditure, reflecting both economic factors and rising consumer confidence in international travel.
Future trends to watch for include evolving consumer preferences for international destinations, the impact of geopolitical developments on travel patterns, advancements in travel technology, and potential shifts in regulatory frameworks. Keeping an eye on these trends will be crucial for stakeholders in the travel and transportation sectors.