The travel industry is likely to grow at a CAGR of about 18% till 2026, says Deepak Nangla, Managing Director, Brightsun Travel
NEW DELHI, Sep 2 (The CONNECT) – With the aggressive return of the ‘revenge travel’ the Indian travel and tourism market is expected to surpass 2019 levels by 2023, and size will reach USD 19 billion.
The return of ‘revenge’ travel – a phenomenon best described as a surge in travel and tourism in the post-pandemic era – has seen an increased demand for offline travel services, with customers preferring speaking with travel consultants, due to numerous complications now associated with travel.
To cater to the increasing demand for greater face-to-face and personal interaction being sought by customers for their travel requirements, Brightsun Travel Pvt Ltd is expanding its workforce and services in India, with the opening of a new office in August 2022 at Unitech Cyber Park in Gurugram and another office to follow in Mumbai later this year.
In fact, the travel industry is likely to grow at a CAGR of about 18% till 2026, by which time the market size is expected to reach USD 29 billion, according to Deepak Nangla, Managing Director, Brightsun Travel Pvt Ltd.
Brightsun will match the industry growth rate, of 18% with its consolidated revenues expected to reach USD 350 million by 2026, from USD 294 million currently. The thrust of this growth will be led by markets in the UK, India and Ireland. Nangla explained/
He said that since “the largest growth is predicted to be within the packages space where additional content and easier booking allows customers to be able to access more travel content that even before”, there is an increased need for bespoke and customised travel experiences. The expertise that the travel consultants offer, along the exclusive deals through the sheer volume of business is the perfect combination for the Indian customer looking to start travelling again.
Sandeep Arora, Finance Manager who leads the Gurugram office and Brightsun Travel’s India team, said, “the opening of the new office will help customers gain from Brightsun Travel’s over 35 years of experience in the travel and tourism sector, which will enable us to guide them through the complex visa and other travel-related services in Indian and the UK markets.”
Gurgram Mayor Madhu Azad expressed the hope that Brightsun will play its part in “making India the second largest travel market in the world by 2030, by which time there will be 448 million air passengers in the country as per the International Air Transport Association
Brightsun Travel, a global travel and tour operator, provides comprehensive bespoke travel services to individual and trade customers, corporate houses and high net-worth individuals. Established in 1986, the company operates out of a network of offices spanning Gurgaon, Delhi, Manchester and London. Their services range from selling flights, to domestic and international holiday packages to suit all budgets, along with ancillary products like cruises, tours, car hire, travel insurance, visa services and PCR tests.