India a rich source of luxury outbound travellers
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The potential and pitfalls of luxury and outbound tourism was in focus at SATTE. Anil Bhandari, head of AB Concepts, said that from the 11.7 million outbound in 2009, the figure would go up to a massive 50 million by 2020.
Spending is also expected to rise from US$9.6 billion to US$28 billion by 2020.
He estimated that there were 83,000 millionaires in India, growing at the rate of 15% each year, which means that demand for luxury outbound travel is already strong and growing.
Key source markets for luxury travel include Mumbai, Delhi, Chennai, Kolkata and Hyderabad. These luxury travellers, who have an average daily expenditure of US$1,000, are looking to holiday in Singapore, Dubai, Malaysia, Australia, UK, Switzerland, and the East and West coasts of the USA.
Paul Kerr, CEO, Small Luxury Hotels, added a new dimension to the scene by pointing out that India lacked the specialists to handle and tap the luxury market, as most operators were generalists.
Freedom and choice were key elements in handling the luxury market, as was the need for personalised service, he emphasised.
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