The international travel spending by Indians reached a 12-month high of $1.67 billion in September this year. This accounted for nearly 60% of the total global spending by Indians, according to data from India’s central bank Reserve Bank of India.
In August travel accounted for 61.25% of total foreign spends. Between October 2024 and September, travel’s share in international spending ranged from 44% to 61.25%, a vast difference from pre-pandemic trends.
The Changing Role of Travel: Barring March this year, travel has consistently contributed to more than 50% of global spending during the 12 months before September.
In the last financial year, travel spends were nearly $17 billion, making up over 57% of the total outward remittances from India. This year, between April to September, Indians spent over $8.6 billion on global travel, accounting for about 58.3% of total spends.
This is a substantial increase from pre-pand