94% of Indian travelers are willing to spend more for a convenient and enjoyable travel experience
FinTech BizNews Service
Mumbai, October 22, 2024 – 97% of Indians are planning to travel this festive and holiday season[1], with 33% having already booked their travel, according to the Amex Trendex India findings released by American Express today. Leisure tops the list of travel motivations (63%), followed by the desire to explore new places (54%) and reconnect with family and friends (27%). 94% of Indian travelers are willing to spend more for a convenient and enjoyable travel experience.
The study also highlights that 73% of Indians are using travel credit card rewards, airline miles or loyalty points to manage costs, reflecting a shift toward maximizing value during the holidays. Domestic travel remains popular, with 88% opting for trips within India, while international travel is on the radar for 61%.
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, At American Express, we’re committed to making the holiday season more rewarding. Our Membership Rewards®️ program allows Card Members to earn and redeem points for everything from travel bookings to shopping, providing unparalleled value. Whether it’s selecting the perfect gift or enjoying a holiday getaway, American Express offers exclusive benefits that help make the season even more special.”
In addition to travel, Indian adults are highly focused on holiday shopping and gifting. An overwhelming 98% plan to buy gifts this season, with family (73%) and friends (65%) as the top recipients. Popular gift choices include clothing and accessories (73% each) followed by tech products (55%). Meanwhile, 66% of Indians are opting for experiences like entertainment and travel as gifts.
The desire for unique and personalized gifting is evident, with 92% actively seeking one-of-a-kind gifts, while 88% prefer shopping at stores that offer reward programs. The study also found that many Indians are turning to holiday discounts (64%) and sales events (59%), with 49% specifically looking for credit card offers to enhance their gift-buying experience.
The global survey was conducted across multiple countries including India, Australia, Canada, Japan, Mexico, the United Kingdom, and the United States.
What is the Amex Trendex?
The Amex Trendex is a trend index that tracks how consumers, small businesses, and retailers are feeling about spending, saving, traveling and more. The survey does not represent Amex customer spending data or trends.
Methodology:
This poll was conducted between June 21 and July 17, 2024, among a sample of 1001 Indian adults who have at least a $50k+ income equivalent and typically travel at least once a year. The interviews were conducted online. Results from the full survey have a margin of error of plus or minus 2-4 percentage points.
