Millennials opt to avail Personal Loans to Travel

The aim for long-term saving and a secure future often outweigh the need to spend on travelling. That trend has witnessed a massive shift in India with the sandwich generation opting for more travelling in order to attain a certain level of work-life balance.

Loans for travelling has emerged as an attractive option for millennials to fulfill their dreams. However, a lot of travel plans are result of long weekends and last-minute holiday planning, which require quick accessible financing option

Indian Spending on foreign travel touched USD 596 million in June 2019

Spending on foreign travel touched USD 596 million in June 2019, which was 42% of the total forex purchased by Indian individuals in the month. This was revealed by the Reserve Bank of India (RBI), which started collating data under the liberalised remittance scheme since 2004.

It has been the highest spend on travel since 2004. In the last year, USD 381 million was spent on foreign travel till June 2018, which accounted for 37% of the total forex.

IndiGo ties up with Skyscanner enhancing Indian and International destinations alike

The partnership with Skyscanner, one of the world’s leading travel search engine, will not only enhance access to Indian destinations but also place Indigo more prominently on the world map. Having a fleet of over 200 aircraft, the low-cost airline offers over 1,400 daily flights and connects 56 domestic destinations and 19 international destinations.

Indian Outbound Travel no longer restricted to traditional Summer Vacation

Thomas Cook (India) Ltd., India’s leading integrated travel and travel related financial services company, has observed that demand for holidays is no longer restricted to the traditional Summer vacation. India’s new age travellers are displaying strong and growing appetite for travel during Autumn/Fall to enjoy nature at its best, with pleasant weather and the resplendent colours of autumn, giving the destination a distinctive appeal. In order to maximise the potential of the yet underleveraged season, Thomas Cook India has launched an array of special Autumn tours.

When Celebrities decided to ‘Think Strawberries’ and ‘Say Sharjah’

The emirate of Sharjah is well-known for its rich, cultural heritage – an identity that has been recognized a number of times as shown by the winning of the Cultural Capital of the Arab World 1998 and Islamic Culture Capital 2014 awards. It is a vibrant city with an exciting food and arts scene, a heritage area that is the largest restoration project in the region along with various commercial centres and over 22 museums. However, the Indian traveler hasn’t been made aware of Sharjah’s diverse experiences and offerings.

Due to the limited awareness and imagery in both B2B and Consumer markets in India, our aim was to:

  1. Mobilize the market for Sharjah Tourism (SCTDA) through synergizing initiatives that will generate demand.
  2. Promote tourism to Sharjah as a “Long Weekend Getaway” Internationally and position it as the “Most Affordable International Holiday”.

We started with basic hygiene outreach on Think Strawberries social media channels – Facebook and Instagram; as this ensured Sharjah’s direct outreach to the TS B2B network of Trade and Media.

All content that was published was skewed and aligned to the targeted promotion pillars:

Thrill Seeker
Rich Culture & Heritage
Ideal Family Destination
Great Shopping Zone
Gastronomical Experience

which are all part of the core destination proposition to the India market. These elements also bind the travelers’ interest and activities, while experiencing a “weekend getaway”.

In the rapidly digitally transforming media environment, influencers and celebrities have a significant role in impacting purchase behavior, capability to build interest for Sharjah and organically grow engagements, comments and positive sentiments. Thus, alongwith general tourism promotion content, at regular intervals Influencer and Celebrity collaborations were also conducted to spur our positioning of Sharjah as a “weekend getaway” destination.

Each Celebrity Trip consisted of India’s 5 leading TV stars, celebrities with huge universal fan following, daily reach into millions of homes visit a destination and create a travelogue. This helped position Sharjah in a relevant Indian context with strong endorsements; and special emphasis on how culturally open, women friendly the destination is.

India’s Gen Z Prioritizes Travel on Top

According to a survey by Booking.com, Indians born after 1995 prioritize travel spends over material possession. For nearly 79% of Gen Z Indians, opportunity to travel for work is important while selecting a job and they feel travelling in their own country helps them to learn and discover more about themselves.

Over 68% of Gen Z Indians feel that Travel is always worth spending money on. “When it comes to prioritisation, ‘travel and seeing the world’ ranked as most important to this generation in India (81%) , investing in education/professional training came a close second (76%) and more material possessions like buying gadgets and clothes ranked the lowest (51%),” says the survey by Booking.com, a global tech travel platform.

Questioned about how this generation of Indians would prioritise spending money, travel ranked above furniture and homewares (69% vs 31%); eating out at restaurants (77% vs 23%); tech and gadgets (60% vs 40%); clothes and fashion (64% vs 36%); and spa and beauty treatments (78% vs 22%).

“They look to enhance skills by learning something new while travelling; and 40% plan to visit 3 different continents over the next ten years,” it says.

Gen Z also comes out as a daring bunch with almost 3/4th seeking adventure in their travels, like paragliding, bungee jumping or trekking to an extreme location. Over 40% say they would prefer to be alone while travelling with 69% having been inspired to make their own adventures by seeing influencers’ trips online.

Besides India, the online survey was carried out in 28 other countries among a sample size of 21,807 respondents aged 16 or over.