{"id":24597,"date":"2024-03-20T02:20:52","date_gmt":"2024-03-20T06:20:52","guid":{"rendered":"https:\/\/newssprinters.com\/index.php\/world\/indias-largest-online-travel-agencies-arent-at-war-but-they-are-in-a-race\/20\/03\/2024\/"},"modified":"2024-03-20T02:20:52","modified_gmt":"2024-03-20T06:20:52","slug":"indias-largest-online-travel-agencies-arent-at-war-but-they-are-in-a-race","status":"publish","type":"post","link":"https:\/\/newssprinters.com\/index.php\/world\/indias-largest-online-travel-agencies-arent-at-war-but-they-are-in-a-race\/20\/03\/2024\/","title":{"rendered":"India\u2019s Largest Online Travel Agencies Aren\u2019t at War, But They Are in a Race"},"content":{"rendered":"<p>\n<\/p>\n<div>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 640px\">\n<div>\n<div class=\"caas-img-container\" style=\"padding-bottom:67%\"><\/div>\n<\/div>\n<\/div>\n<\/figure>\n<p>A bulging middle class, a mega-rich 1%, and a rapidly growing population are swirling to potentially make India a tourism superpower. But the country\u2019s largest online travel agencies are not going to go to war; rather, they\u2019re in a race for who can leverage the growth opportunities first and then on a long-term basis.<\/p>\n<p>\u201cI don\u2019t lose sleep about some competitor doing something for a month,\u201d said Dhruv Shringi, co-founder and CEO of Yatra Online at the Skift India Summit 2024 in Gurugram, India. He said that operators need a long-term plan for growing in India travel. \u201cYou need a strategy for long-term retention of customers.\u201d<\/p>\n<p>By 2027, India is slated to become the world\u2019s fifth-largest outbound travel market, and as the world\u2019s most populous country, is on a fast-track to become an immense domestic tourism hub.<\/p>\n<p>Given the sheer size and potential of India tourism, there\u2019s room for multiple competitors, said Rajesh Magow, co-founder and Group CEO of MakeMyTrip. \u201cIf you look 30 years from now, it\u2019s a massive market. Whoever executes best will grow.\u201d<\/p>\n<p>\u201cLook at the growth rates, you will only see this market growing,\u201d Magow added. \u201cThat means there is room for many. It shouldn\u2019t be drawing battles for the sake of it. Companies should focus on their own strategies rather than always obsessing over the competition.\u201d<\/p>\n<p>The two CEOs appeared together at the Skift India Summit in a session titled, \u201cWhere Will the Next Billion Travelers Come From?\u201d<\/p>\n<h3>The India Domestic Market Is the \u2018Big Daddy\u2019 of Travel<\/h3>\n<p>In terms of how to capitalize on this huge market, both execs said that companies must master promoting domestic travel across the country and use technology to reach the growing middle class \u2014 particularly those not living in the major metro cities.<\/p>\n<p>Shringi said: \u201cOur ability now to reach customers is much easier. Through a digital platform now, it\u2019s much easier. One of the key things now is pushing into tier-two market segments where travelers had the aspiration of travel, but only domestically.<\/p>\n<p><button class=\"link caas-button collapse-button\" data-ylk=\"elm:readmore;slk:Story continues\">Story continues<\/button><\/p>\n<p>\u201cDomestic is the big daddy, but there\u2019s a large international market to leverage,\u201d as well.<\/p>\n<p>Magow added: \u201cThis will support the domestic travel industry for sure. Demand is driving the opportunity. Income is rising across the board. There is an opportunity for domestic and outbound travel growth.\u201d<\/p>\n<p>Hyper localization within India will be key.<\/p>\n<p>\u201cThe more you go region-specific, you see each region is essentially its own country. That gives an advantage to local players who understand the markets really well,\u201d Magow said.<\/p>\n<h3>No Longer \u2018Irrational\u2019<\/h3>\n<p>According to both execs, competition in the India travel market has matured immensely in the past decade, stating intensive pricing competition has been muted.<\/p>\n<p>Shringi said: \u201cEven domestic aviation, it was hyper-competitive but now we\u2019ve seen sanity return. It used to be irrational competition. Some pockets of travel just have higher competition but the market has matured significantly.\u201d<\/p>\n<p>Magow sounded a cautionary note.<\/p>\n<p>\u201cCompetition is very healthy, you need it, it\u2019s a huge market,\u201d he said. \u201cIt is quite common to see people get carried away with the reach the internet provides, it may lead you to jump the gun and try to acquire customers you can\u2019t reach.\u201d<\/p>\n<p><em><a href=\"https:\/\/skift.com\/news\/?utm_source=yahoo&amp;utm_medium=feed&amp;utm_campaign=Yahoo%20Finance%20Feed%20Skift\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Get breaking travel news;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">Get breaking travel news<\/a> and exclusive hotel, airline, and tourism research and insights at Skift.com.<\/em><\/p>\n<\/div>\n<p><a href=\"https:\/\/finance.yahoo.com\/news\/india-largest-online-travel-agencies-054622420.html\" target=\"_blank\" rel=\"noopener nofollow\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A bulging middle class, a mega-rich 1%, and a rapidly growing population are swirling to potentially make India a tourism superpower. But<br \/><button class=\"read-more\"><a href=\"https:\/\/newssprinters.com\/index.php\/world\/indias-largest-online-travel-agencies-arent-at-war-but-they-are-in-a-race\/20\/03\/2024\/\">Read More &rsaquo;<\/a><\/button><\/p>\n","protected":false},"author":1,"featured_media":24599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/posts\/24597"}],"collection":[{"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/comments?post=24597"}],"version-history":[{"count":0,"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/posts\/24597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/media\/24599"}],"wp:attachment":[{"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/media?parent=24597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/categories?post=24597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newssprinters.com\/index.php\/wp-json\/wp\/v2\/tags?post=24597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}