PATA Premier Partner Abacus International has revealed figures that suggest that India may be emerging as a major source market for…
PATA Premier Partner Abacus International has revealed figures that suggest that India may be emerging as a major source market for Asia Pacific. Total Indian outbound bookings on the Abacus system in August 2004 were up 57% on August 2003, while the number of Indian FIT bookings, January-August 2004, increased 47% over the same period a year ago and 96% over 2002.
India`s long-expected travel boom has begun, said Abacus International President and CEO Mr Don Birch. With a population of more than one billion and a burgeoning middle class with enormous spending power, India is poised to realise its potential as one of Asia`s leading outbound travel markets.
At the PATA Travel Mart 2004 India Outbound Workshop, September 23, Asian Demographics CEO Dr Clint Laurent revealed that the highest growth segment in India was the young middle class household. He cautioned that this segment`s spending power was limited due to competing wants, such as household durables. Dr Laurent said that the opportunity for this segment was in volume, not margin, and that price was important.
Abacus posted a 5% increase in total regional bookings for August, which compares favourably against August 2003 when post-SARS bargain hunting was in full steam.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
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