Wealthy Indians plan leisure travel this festive season: AMEX Trendex report
Oct 22, 2024
New Delhi [India], October 22 : Leisure and holiday travel are becoming a trend among rich and influential. A recent survey by Amex Trendex India revels that Indian adults with an annual income of USD 50,000 or more and who goes on holidays at least once a year, 97 per cent of them are planning to travel during the upcoming festive season.
The report adds that 33 per cent of them have already having booked their trips. The survey highlights leisure as the top motivation for travel, with 63 per cent of respondents indicating it as their primary reason.
Additionally, 54 per cent expressed a desire to explore new places, while 27 per cent plan to reconnect with family and friends.
Indian travellers are willing to pay a premium for comfort and enjoyment, with 94 per cent stating they are prepared to spend more for a convenient and pleasurable travel experience.
Cost management remains a priority for many, with 73 per cent of respondents planning to use travel credit card rewards, airline miles, or loyalty points to offset expenses.
The trend reflects a growing inclination towards maximizing value during the holidays. Domestic travel continues to be the preferred choice, with 88 per cent of travellers opting for destinations within India, while 61 per cent are considering international trips.
Sanjay Khanna, CEO and Country Manager, American Express Banking Corp India, said, "Indian consumers are eager to elevate their holiday experiences, from thoughtful gift-giving to unforgettable travel adventures."
The Amex Trendex survey also revealed a strong focus on holiday shopping and gifting, with 98 per cent of respondents planning to buy gifts this season. Family and friends are the top recipients, with 73 per cent and 65 per cent of respondents, respectively, intending to give gifts to them.
Popular gift categories include clothing and accessories (73 per cent each), followed by tech products (55 per cent). Additionally, 66 per cent of Indians are leaning towards giving experiential gifts, such as entertainment and travel.
A significant 92 per cent of respondents are seeking unique and personalized gifts, while 88 per cent prefer shopping at stores that offer reward programs. The study also found that 64 per cent of Indians are taking advantage of holiday discounts, and 59 per cent are shopping during sales events.
Credit card offers are a key consideration for 49 per cent of shoppers, aiming to enhance their gift-buying experience.
The survey provides valuable insights into consumer sentiment and holiday behaviours across multiple countries, including India, Australia, Canada, Japan, Mexico, the United Kingdom, and the United States.
