New Delhi : KPMG and Federation of Indian Chambers of Commerce and Industry (FICCI) released a report titled "Expedition 3.0: Travel and hospitality gone digital" which said the travel and tourism sector is generating 25.9 million jobs and GDP of Rs 141.1 billion.
Mobile applications, big data, AI, VR and AR will shape the future of the travel industry.
The online travel booking sales are likely to go up at a compound annual growth rate of 14.8 per cent from 2017 to 2021, the report estimated.
As per the report, India was projected to have accounted for 3.7 per cent of the global digital travel sales - making it the third-largest market by value in the Asia-Pacific (APAC) region.
According to the report, rising smartphone and internet penetration, rising participation of millennial travellers in terms of numbers and expenditure, with 34 per cent of millennials spending Rs 6,000 per night or more in the past year, as compared to 22 per cent of those aged 55 plus, leisure travel contributing nearly 95 per cent to the direct travel and tourism spending in India and rising business travel are contributing to the growth of the travel and hospitality sector in India.
The report enlists and expounds upon six key focus areas to win the tech-friendly traveller: Marketing to the modern-day traveller- through Search Engine Marketing (SEM) and Search Engine Optimisation (SEO), following a mobile-first approach, leveraging social media, providing personalised offers and utilising User Generated Content (UGC).