A report from Mastercard's Economics Institute, titled Travel Trends 2024: Breaking Boundaries, said Indian outbound travel to Vietnam skyrocketed by 248% compared to 2019 levels, followed by the US and Japan, with growth rates of 59% and 53%, respectively.

These figures, compiled for the January-March 2024 period, also indicate a significant shift in traveler preferences. The emerging trends hold promise for the travel sector, considering that India is expected to see nearly 20 million more people entering the middle class over the next five years, the report added.

"We're seeing more international trips from travelers coming from India than at any time in history. India is the fastest growing major market in the world now and, in the foreseeable future, it is likely to be an ongoing (growth) story. The desire for travel, jewellery and high-end clothing options will remain very strong with growing disposable incomes, and an aspirational lifestyle," said David Mann, chief economist, Asia Pacific, Mastercard.

Additionally, according to the report, Indian travelers have extended their trips by an additional day in the year ended March 2024, compared to 2019’s corresponding period. This trend underscores a burgeoning appetite for immersive and meaningful travel experiences. Moreover, cruise vacations have witnessed remarkable growth, exceeding the 2019 highs.

An analysis of Indian passenger arrivals data for popular destinations such as the US, Japan and Vietnam revealed that while a strong dollar may have diverted tourists away from the US, Indian passenger arrivals soared by 59% compared to 2019 levels. 

Vietnam, which recently added direct flights, has seen a two and a half times increase in travel. This reinforces the strength of demand for intra-regional travel as well, Mann said.

VOV