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The India outbound meetings and incentives market targeting Europe is expected to grow from USD 4.4 billion in 2022 to USD 7.17 billion by 2032, with a projected CAGR of 5% over the forecast period. As one of the world’s youngest and fastest-growing economies, India’s vibrant market, driven by millennial consumers, is contributing to the popularity of outbound business travel to Europe. Additionally, open market policies encouraging foreign direct investment (FDI) have positively impacted the country’s GDP, further boosting this market.
India Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism Market to Europe & Forecast: Game Changers
There are several factors that are promoting the growth of the India Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism Market to Europe. The enhanced business ambience between the fastest growing regions of the world and revamped market policies are helping Indian business houses establish their footprint in the European market. The booming tourism market of India and the birth of a new breed of deep-pocketed travellers are cementing the ground for the growth of the India outbound MICE tourism market to Europe. Several investment friendly policies rolled out by European countries to woo investors are also speeding up the growth of the India outbound MICE tourism market to Europe.
India Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism Market to Europe & Forecast: Restraints
Though the atmosphere and growth prospects between both the regions of the world have evolved with time, the recent Brexit referendum has stalled the growth of the India outbound MICE tourism market to Europe. Several India-based companies are shifting their focus from European markets for fetching better results. European markets are immensely competitive and dominated by powerful countries such as China. This is also dampening the flow of outbound investment of India into Europe. The tourism markets in other countries spread across the South-East Asia and Asia Pacific region are cheaper than the European markets and the costly markets of Europe are also barricading the India outbound MICE tourism market to Europe.
Tourism Market to Europe & Forecast: Bigwigs
Companies such as Thomas Cook, Itl World, Travel Corporation (India) Ltd. (Tci), and Tybros India Tours Private Limited are some of the key players dominating this segment.
Key Companies Profiled
- Clear Trip Pvt Ltd.
- Ebix Travel Pvt Ltd.
- Kesari Tours Pvt. Ltd.
- Easy Trip Planners Pvt Ltd.
Report Preview: https://www.futuremarketinsights.com/reports/india-mice-tourism-sector-to-europe-outlook
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