{"id":11661,"date":"2024-03-13T09:10:20","date_gmt":"2024-03-13T02:10:20","guid":{"rendered":"https:\/\/vietpearltravel.com\/?p=11661"},"modified":"2024-03-13T09:10:20","modified_gmt":"2024-03-13T02:10:20","slug":"india-sets-new-milestones-in-trevolution-groups-annual-airfare-sales","status":"publish","type":"post","link":"https:\/\/vietpearltravel.com\/?p=11661","title":{"rendered":"India sets new milestones in Trevolution Group’s Annual Airfare Sales\u00a0"},"content":{"rendered":"

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Representative Image<\/figcaption><\/figure>\n

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Trevolution Group, the global market leader operating Asap Tickets Skylux Travel, Dreamport, Oojo and other travel brands, reports selling over 86,780 airline tickets to and from India in 2023, thus\u00a0 reaching record volumes in airfare sales and indicating a stable 17% growth across the market\u00a0 compared to the previous year<\/strong>.<\/p>\n

This amounted to 143 million USD in gross bookings, or over 12% of\u00a0 the group\u2019s total gross profit during 2023, exceeding one billion USD for the first time. Reported\u00a0 business results rank India as one of the top four leading destinations for international airline\u00a0 passengers traveling across leisure and business tourism, as well as the rapidly growing visiting friends-and-relatives (VFR) segment.<\/p>\n

Following the busy holiday season, Trevolution Group\u2019s airfare sales results in India have exceeded\u00a0 pre-pandemic levels, marking 2023 as the most profitable year to date. India has historically been\u00a0 among the most popular travel destinations for American passengers, and along with the country\u2019s\u00a0 tourism sector recovery, last year has seen a continuous increase of its inbound tourism volumes. However, the most significant growth of over 130% can be observed in India\u2019s outbound travel sales,<\/p>\n

indicating this market\u2019s rapid growth and economic development. International businesses are\u00a0 booming, and India has become a major player in today\u2019s global economy. As a result, the surging\u00a0 demand for regular transpacific flights shows a progressive pattern for 2024 and beyond.<\/p>\n\n\n\n\n
Total Gross Bookings\u00a0<\/strong><\/td>\nChange 2023 vs. 2022<\/strong><\/td>\n<\/tr>\n
Outbound<\/p>\n

Inbound<\/p>\n<\/td>\n

132%<\/p>\n

7%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

According to the Directorate General of Civil Aviation (DGCA), the Indian air travel market is one of\u00a0 the fastest-growing globally with approximately 152 million domestic passengers in 2023. And even\u00a0 though India\u2019s global tourism promotion budget for 2024 has decreased, the country still aims to\u00a0 promote itself on the global stage and will put an even greater emphasis on the domestic travel sector,\u00a0 which Trevolution Group\u2019s services also contribute to largely.<\/p>\n

Next to Delhi and Mumbai, Hyderabad also played a crucial role in India\u2019s regional development throughout 2023. Over the past years, it has evolved into a thriving technology industry center and\u00a0 tourism hub, and it is one of the fastest developing metropolitan cities in India. That is also reflected\u00a0 in Trevolution Group\u2019s latest business results, where Hyderabad contributed to 13% of the total flight\u00a0 tickets booked to India and 20% of the total flights sold from the county\u2019s largest airports. It is one of\u00a0 the strongest driving forces for India\u2019s economic growth, and the emerging VFR segment constitutes a significant part of the national travel business, especially across inbound tourism.<\/p>\n\n\n\n\n
Top Destination Cities\u00a0<\/strong><\/td>\n% of All Tickets in 2023<\/strong><\/td>\n<\/tr>\n
Mumbai<\/p>\n

Delhi<\/p>\n

Hyderabad<\/p>\n<\/td>\n

20.49%<\/p>\n

29.86%<\/p>\n

13.22%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n\n\n\n\n
Top Departure Cities\u00a0<\/strong><\/td>\n% of All Tickets in 2023<\/strong><\/td>\n<\/tr>\n
Mumbai<\/p>\n

Delhi<\/p>\n

Hyderabad<\/p>\n<\/td>\n

19.96%<\/p>\n

26.47%<\/p>\n

19.92%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

Class of Travel\u00a0<\/strong><\/p>\n

The growing demand for international travel to and from India is also reflected in the substantial\u00a0 increase in sales across both Economy and Business class flights. That resulted in a high 161% growth\u00a0 in flights booked from the largest airports across India in Economy class and an even more significant 276% increase in Business class compared to last year\u2019s commercial results. Meanwhile, the demand\u00a0 for inbound Economy tickets has stayed stable at the same level as it was throughout 2023. However, Business class saw a major leap of 137%, indicating the return of the business travel, as well as the\u00a0 growing demand for a higher level of comfort among international air passengers.<\/p>\n\n\n\n\n
Inbound Ticket Type\u00a0<\/strong><\/td>\nTicket Change 2023 vs. 2022<\/strong><\/td>\n<\/tr>\n
Economy Class<\/p>\n

Business Class<\/p>\n<\/td>\n

1%<\/p>\n

137%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n\n\n\n\n
Outbound Ticket Type\u00a0<\/strong><\/td>\nTicket Change 2023 vs. 2022<\/strong><\/td>\n<\/tr>\n
Economy Class<\/p>\n

Business Class<\/p>\n<\/td>\n

161%<\/p>\n

276%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

Additionally, the majority, or 80.5%, of all tickets purchased to India in 2023 were round-trip tickets.\u00a0 With a 13% increase in the total number of return flights booked to India\u2019s airports, this pattern has\u00a0 not changed since the previous year and is another indicator of the emerging VFR travel segment. It is especially popular among more than 4.4 million Indian Americans with strong ties to the homeland\u00a0 and who are booking most round-trip tickets from the US to India. Likewise, the share of one-way\u00a0 tickets has also stayed at nearly the same level and showed a 12% increase in the total inbound ticket\u00a0 sales compared to 2022.<\/p>\n\n\n\n\n
Inbound Trip Type\u00a0<\/strong><\/td>\nTicket Change 2023 vs. 2022<\/strong><\/td>\n<\/tr>\n
One Way<\/p>\n

Round Trip<\/p>\n<\/td>\n

12%<\/p>\n

13%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

Meanwhile, the proportion of outbound return tickets was at 35.5% in 2023 compared to 28% in 2022, and the total number of round-trip flights sold last year went up by 245% (vs. 141% increase in one-<\/p>\n

way flights), which accentuates a rapid market growth and highlights the ongoing return of international leisure travel among Indian customers.<\/p>\n\n\n\n\n
Outbound Trip Type\u00a0<\/strong><\/td>\nTicket Change 2023 vs. 2022<\/strong><\/td>\n<\/tr>\n
One Way<\/p>\n

Round Trip<\/p>\n<\/td>\n

141%<\/p>\n

245%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

As the airline industry returns to its pre-pandemic capacity and the price of aviation fuel remains\u00a0 stable, the growing airfare prices had slowed down in 2023 making international travel more\u00a0 affordable and available. Thus, when it comes to the average ticket price, Business class tickets to India decreased by 46%, while economy class fares showed a 11% drop. A similar pattern was also observed across the airfare costs from India with 42% cheaper flights in Business class and -10% in Economy<\/p>\n

class. As a result, air passengers had higher ability to purchase additional auxiliary products, in-flight\u00a0 services and upgrades with Ticket Protection being the top selection last year.<\/p>\n

Booking Window and Terms\u00a0<\/strong><\/p>\n

Almost one-third, or 32.3%, of all global travelers flying to India in 2023 purchased their tickets over\u00a0 three months prior to the departure date. This number has increased slightly since the last year when\u00a0 28% of Trevolution Group\u2019s passengers would book their flights over 90 days ahead. Such a pattern\u00a0 indicates that the travel industry has now finally recovered to its pre-pandemic state, and people feel\u00a0 more confident again in making their travel plans further in advance, especially when it comes to VFR\u00a0 travel. Thus, only 13.7% of all inbound flight tickets were purchased up to 10 days before the trip in\u00a0 2023, compared to 12.8% in 2022, while 8.8% (vs. 8.2%) were purchased up to 20 days in advance and\u00a0 8.6% (vs. 8.4%) of all flights to India were booked up to a month ahead.<\/p>\n\n\n\n\n
Inbound Advance Purchase Days\u00a0<\/strong><\/td>\n% of Total Tickets in 2023<\/strong><\/td>\n<\/tr>\n
0-10<\/p>\n

11-20<\/p>\n

21-30<\/p>\n

91+<\/p>\n<\/td>\n

13.7%<\/p>\n

8.8%<\/p>\n

8.6%<\/p>\n

32.3%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

Meanwhile, according to the Group\u2019s ticket sales from India, these passengers tend to make more last minute decisions and, therefore, only less than one-fifth or 19% of all travelers secure their tickets\u00a0 over 90 days in advance (compared to 21.5% in 2022), while 17.4% choose to do it up to 10 days in\u00a0 advance (compared to the previous 15.7%), 13% (vs. 13.5% in 2002) did it up to 20 days in advance\u00a0 and 10.7% (vs. 11%) of passengers would do it up to 30 days ahead of their upcoming trip. The growing\u00a0 number of tickets purchased only a week to a few weeks ahead also point to the returning travel\u00a0 confidence and the strong presence of business travel with more urgent flights.<\/p>\n\n\n\n
Outbound Advance Purchase Days\u00a0<\/strong><\/td>\n% of Total Tickets in 2023<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n\n\n\n
0-10<\/p>\n

11-20<\/p>\n

21-30<\/p>\n

91+<\/p>\n<\/td>\n

17.4%<\/p>\n

13%<\/p>\n

10.7%<\/p>\n

19%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

In addition to that, the number of short-term bookings from India has decreased in both 2023 and\u00a0 2022, and the average length of stay abroad is now almost three months or 87 days, and it is slightly\u00a0 higher for Economy class passengers with 92 days vs. 82 days for Business class. This indicates that\u00a0 travelers still tend to make up for the two pandemic years and thus feel more confident about\u00a0 spending more time abroad now that the industry has fully recovered, especially when visiting their\u00a0 friends and family or working remotely. Meanwhile, for the Group\u2019s passengers coming to India, this\u00a0 period is three times lower, with 31 days or an average of one calendar month for Business and\u00a0 Economy class in both 2023 and 2022, which is an average length of stay abroad for leisure travel.<\/p>\n

Destinations\u00a0<\/strong><\/p>\n

Following the previous year\u2019s pattern, the vast majority of visitors coming to India in 2023 originated\u00a0 from the United States, Canada, United Arab Emirates and United Kingdom and choosing Mumbai (20.5%) and Delhi (30%) as the main arrival airports. Similarly, the top five departure cities to India remained New York, San Francisco and Chicago, followed by Dallas and Washington, and most\u00a0 inbound passengers choose to fly with Qatar Airlines, Air India and Turkish Airlines and Emirates.<\/p>\n\n\n\n\n
Top Departure Countries % of change 2023 vs. 2022<\/strong><\/td>\n<\/tr>\n
United States 10%<\/p>\n

Canada 4%<\/p>\n

United Arab Emirates 135%<\/p>\n

United Kingdom 284%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

Meanwhile, the majority of air travelers starting their journey from India in 2023 preferred such\u00a0 popular global destinations as the United States, Canada, United Arab Emirates and Thailand, as well\u00a0 as flew domestically within the country. Thus, New York, San Francisco, Chicago, Washington and\u00a0 Dallasremained the top destination cities, with Air India, Emirates and Turkish Airlines as the top three\u00a0 air carriers of choice. As the proportion of the America-based Indian community is continuously\u00a0 growing, this pattern is again heavily influenced by VFR tourism being one of the main factors driving frequent flights to India and back to North American cities, as well as vice versa.<\/p>\n\n\n\n\n
Top Destination Countries % of change 2023 vs. 2022<\/strong><\/td>\n<\/tr>\n
United States 171%<\/p>\n

Canada 18%<\/p>\n

United Arab Emirates 295%<\/p>\n

Thailand 245%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

\u201cIndia continues to be a cornerstone of Trevolution Group\u2019s success with our record-breaking sales\u00a0 signalling a stable 17% growth in the market. Historically robust, this market is poised for further\u00a0 expansion, given an increasing Indian diaspora in the US and Canada that is the driving force behind\u00a0 the growth of the VFR sector. Recognizing the untapped potential in this market, we are diligently\u00a0 developing an all-inclusive travel app to better serve our clientele. Additionally, we are dedicated to\u00a0 establishing a new corporate travel vertical, called Triplicity, recognizing the need for tailored\u00a0 solutions in this sector.\u201d Alex Weinstein, the Founder of Dyninno Group commented.<\/p>\n

Trevolution Group, which operates International Travel Network, ASAP Tickets, Skylux Travel, Dreamport,\u00a0 Oojo, and other travel brands, has established itself as the global market leader in the travel business,\u00a0 specializing in the visiting friends and relatives\u2019 (VFR) segment. Over 840,000 unique airline tickets and\u00a0 vacation packages were sold by the companies under the Trevolution Group brand in 2023, making it the\u00a0 fourth-largest travel consolidator in the US.<\/p>\n

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