Indian travelers spent $34.2 billion on outbound travel in 2023, according to the World Travel & Tourism Council.
But the current level of Indian travel is "minuscule" compared with what's to come, Alan Watts, Hilton's Asia-Pacific president, told "Squawk Box Asia" Monday.
"India outbound will be the story of the next decade."
By 2034, Indian travelers' outbound spend is projected to more than double to $76.8 billion, according to the World Travel & Tourism Council's Economic Impact 2024 report — which would make the country the seventh-largest travel spenders in the world, up from 12th in 2023.
"When you think of India, it has the characteristics of China, which is the second largest lodging market in the world," said Watts.
Persons:
what's, Alan Watts, Watts
Organizations:
Tourism Council, Hilton's, Tourism
Locations:
Hilton's Asia, Pacific, India, China