Skift Take
Bulbul Dhawan
Sports tourism is on the rise in India, and the country's sports tourism market is expected to reach about $53 billion in 2033, according to a report released last year by market research firm Future Market Insights. The firm predicts the industry will grow at an annual rate of 17.1 percent from $11 billion in 2023.
Major sporting events such as the Cricket T20 World Cup series, Wimbledon and the 2024 Olympics are just around the corner. These tournaments are popular among Indian sports enthusiasts and with the increasing purchasing power of Indian travellers, there seems to be growing interest in watching them live.
Skift reached out to online travel companies to understand the trends they're seeing.
Rajeev Kale – Managing Director and Country Head, Holidays, MICE and Visas, Thomas Cook (India) Limited: “Consumer data trends for 2024 indicate a 40% surge in demand for big global sporting events, with the top spots being the Cricket World Cup series, Wimbledon, Olympics and Formula 1. We have received around 200 enquiries, including confirmed group bookings for the upcoming India vs Pakistan cricket match in New York.”
Kale said such events play a key role in influencing travel decisions, with 23% of consumers considering them when choosing a travel destination.
“What's really encouraging is the apparent willingness of Indians to spend money on these sporting extravaganzas.”
Daniel D'Souza – President and Country Head of Holidays at SOTC Travel: Sports tourism is becoming a major driver for the Indian market, says D'Souza: “Demand is growing by 20-35 percent. For Indian travellers, attending matches is an exciting and engaging experience, as evidenced by Indians dominating overseas ticket purchases for major sporting events such as cricket, Wimbledon, Australian Open tennis and football.”
D'Souza added that sports tourism was earlier a niche market in India but is now attracting a wider range of demographics, including affluent and ultra-high net worth individuals in tier-1 and tier-2 cities, families and young Indians.
Santosh Kumar – Country Manager for India, Sri Lanka, Maldives and Indonesia at Booking.com: “Indian sports fans are travelling all over the world to watch their favourite sporting events. According to travel trends 2024, 73% of Indian travellers are planning to travel abroad for sporting events this year. This passion is translating into real action, with our accommodation search data revealing an increase in searches for venues.”
Kumar said London, Paris and New York are among the top 10 most searched travel destinations by Indians, catering to events such as Wimbledon Championships, Paris 2024 Olympics and the ICC Men's T20 World Cup, respectively.
TBO Tek Reports 35% Increase in Net Profit
Travel distribution platform TBO Tek has announced its financial results for fiscal year 2024, reporting a 35% increase in net profit and a 31% increase in revenue.
“In the coming year, we will continue to invest in developing global markets, strengthening our supply and innovating our platform. We will also explore strategic inorganic opportunities,” said Gaurav Bhatnagar, co-founder, TBO Tek.
TBO Tek recently completed its IPO, which had a strong debut on Indian stock exchanges. The company plans to use the proceeds from the IPO for strategic acquisitions and investments, Bhatnagar said in an interview with Skift.
Radisson signs first hotel deal in Bihar
Radisson Hotel Group has signed its first hotel deal in the Indian state of Bihar: the 120-room Radisson Hotel Patna, scheduled to open in 2026.
“We are pleased to achieve this new milestone in our efforts to expand our presence in tier 2 and 3 regions of the country,” said Nikhil Sharma, senior vice president, South Asia, Radisson.
The company has been strategically focusing on tier 1 and smaller markets in India for overall brand growth and recently debuted its premium lifestyle brand, Radisson Collection, in India.
“India has experienced significant economic growth over the past few decades, leading to rising disposable income and a growing desire for luxury lifestyle experiences. We recognize the immense potential of this thriving market,” Ellie Younes, vice president at Radisson, said in an interview with Skift.
Royal Orchid Hotel's total revenue increases by 12%
Royal Orchid Hotel announced that its total revenue for FY2024 increased 12% compared to FY2023. Profit after tax increased slightly 3%.
However, the company is gearing up for the next financial year, said Chander K. Bhalji, chairman and managing director. “We are executing on key growth drivers – redefining our brand, strengthening our leadership team and introducing new technologies and processes – to showcase our vision for the future of hospitality in India. FY25 will be a transformational year that will propel the company towards the future,” he said.
As part of its expansion plans across India, the company plans to open 30 to 35 hotels with approximately 2,000 rooms each in fiscal 2025.
Photo credit: The Cricket World Cup series, Wimbledon and the Olympics are fast approaching.
