International travel spend by Indians up 25% to Rs. 2,72,176 crore (US$ 31.7 billion) in FY24: Report

India's international travel spending rose by 25% in FY24, reaching Rs. 2,72,176 crore (US$ 31.7 billion), according to the ACKO India Travel Report 2025. This growth is driven by millennials and Gen Z, who make up 48% of outbound travellers. The report, based on data from 49,000 travel insurance policies, shows that 36% of outbound travellers were under 35. These young travellers are digitally savvy and adventurous, blending work, wellness, and leisure into longer trips. Almost 99% of ACKO customers bought medical insurance, while 83% opted for broader plans covering baggage loss and travel delays. Women accounted for 43% of Indian outbound travellers in 2024, reflecting a shift in societal norms.
The top international destinations for Indians in 2024 were Thailand (13%), UAE (10%), USA (6%), Vietnam (5%), and Indonesia (5%). Visa-friendly policies, flight connectivity, and social media trends influenced travel choices. Beach lovers preferred Phuket, Bali, and Da Nang, while urban explorers chose Dubai, New York, and San Francisco. Medical claims accounted for 33% of insurance payouts, averaging Rs. 16,542 (US$ 193), while delayed baggage claims averaged Rs. 17,379 (US$ 202). Trip rescheduling claims averaged Rs. 72,428 (US$ 844). The ACKO spokesperson highlighted that smart planning and comprehensive insurance are crucial for managing travel risks.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.