In 2020, domestic luxury tourism in India was estimated to have generated only half of the revenue it did in 2019, while its international luxury tourism sector was anticipated to have lost one billion U.S. dollars worth of revenue compared to the year prior according to a Statista study on the topic. This strong drop in luxury tourism revenue expected for India is associated with the COVID-19 pandemic. Nonetheless, it has been forecasted that the Asian country's luxury tourism sectors will recover by 2022 and even generate revenues surpassing their pre-pandemic numbers in the succeeding years.
Luxury tourism revenue in India from 2019 to 2024, by market
(in billion U.S. dollars)
A country's luxury tourism revenue is defined as income generated by domestic and inbound international high-net-worth individuals (HNWIs) through the acquisition of consumer goods, services, and valuables for and during trips. HNWIs have net assets over one million U.S. dollars.
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Statista. (March 5, 2021). Luxury tourism revenue in India from 2019 to 2024, by market (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1071617/india-luxury-tourism-revenue-origin/
Statista. "Luxury tourism revenue in India from 2019 to 2024, by market (in billion U.S. dollars)." Chart. March 5, 2021. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1071617/india-luxury-tourism-revenue-origin/
Statista. (2021). Luxury tourism revenue in India from 2019 to 2024, by market (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1071617/india-luxury-tourism-revenue-origin/
Statista. "Luxury Tourism Revenue in India from 2019 to 2024, by Market (in Billion U.S. Dollars)." Statista, Statista Inc., 5 Mar 2021, https://www.statista.com/statistics/1071617/india-luxury-tourism-revenue-origin/
Statista, Luxury tourism revenue in India from 2019 to 2024, by market (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1071617/india-luxury-tourism-revenue-origin/ (last visited November 21, 2024)
Luxury tourism revenue in India from 2019 to 2024, by market (in billion U.S. dollars) [Graph], Statista, March 5, 2021. [Online]. Available: https://www.statista.com/statistics/1071617/india-luxury-tourism-revenue-origin/
