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Survey reveals that Indian travellers are ready to spend more for experience this year

According to the latest travel report by ACKO, India’s tech-first insurance company, Indians are expressing a desire to spend more time and money on both international and domestic travel this year. The survey conducted for the Travel Index 2023 included 1000 respondents aged between 24 and 45 from seven major Indian cities, and it identified key travel considerations among Indians.

The findings reveal that 60% of Indians are planning international trips in the coming year. Additionally, approximately 48% of respondents are allocating an increased budget for their travel, while 37% plan to extend the duration of their trips. The report highlights that around 71% of respondents are willing to spend between Rs 1-6 lakh on international trips, while for domestic travel, most respondents aim to spend up to Rs 1 lakh.

The survey also indicates that Indian travelers have recognized the importance of travel insurance and understand what to expect from a policy. Around 67% of respondents consider travel insurance mandatory when planning their trips, while only 13% indicated that they do not intend to purchase a travel insurance policy.

Brijesh Unnithan, SVP of Embedded Insurance, commented on the survey, stating that the goal was to gain insights into Indian travel plans for 2023 and how preferences have evolved in recent years. Travelers are now more mindful of their well-being during trips and are seeking customized insurance products that align with their needs and expectations.

Interestingly, the survey highlights that 36% of Indians prefer to travel with friends, 35% with their spouse or partner, and only 14% are interested in taking solo trips. Additionally, 4% of respondents expressed a desire to travel with their pets.

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