Indian Outbound – Getting the right mix!

The global travel and tourism industry was badly hit last year and is still reeling under the financial meltdown which set in mid-2008. US and European markets were most affected by the meltdown. This was followed by the 26/11 terror attacks in Mumbai and Thailand’s heightened political tensions, which forced many countries to issue advisories against travel to India and Thailand. Furthermore, the aviation industry also suffered major losses due to high fuel prices and low load factors. By the end of last year, 2009 seemed gloomy as the travel industry was not sure about business prospects. But with the global economy slowly showing an upward trend, the travel and tourism industry is also looking at bouncing back. Global travel suppliers and tourism authorities are looking positive about growth prospects in the coming years and are introducing many innovative promotions and strategies to boost the sector.