Thomas Cook (India) Ltd. expects to see a 22 percent growth in booking volumes in the holiday quarter between April and June, its Executive Director and Chief Executive Officer Mahesh Iyer told Bloomberg Quint.
The travel company also forecasts about 22-24 percent growth in terms of value during the same period. “Holiday is not being looked upon as a once-a-year event. People are looking at multiple breaks and maybe two or three breaks during the year, clearly that is fuelling the demand,” Iyer said, adding that people's willingness to spend on holidays has increased overtime, boosting demand for travel and travel-related experiences.
“India is moving away from being a savings economy to a spending economy,” Iyer said. People are now willing to take credit for traveling, he said.
The domestic market, according to Iyer, is witnessing a compounded annual growth rate close to 40 percent over the last three years as people are looking to experience new things and are opting for customised travel plans versus group travels.
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