India's outbound travel hits 32.71M departures in 2025, defying West Asia turmoil
India's outbound travel market grows 5.9% to 32.71M departures in 2025, with Thailand (2.49M) and US (2.06M) leading destinations. Thomas Cook and SOTC cite rising disposable incomes and experiential-travel demand. Market projected to expand from $18.8bn (2024) to $55.4bn (2034) at 11.4% CAGR.
What happened
Thomas Cook (India) · India's outbound travel surges despite West Asia turmoil, with 32.71M departures in 2025. Thailand, Australia, Singapore, US and others
Key facts
- 32.71 million overseas departures 2025
- up 5.9%
- outbound market $18.8bn 2024 to $55.4bn 2034
- CAGR 11.4%
- Thailand 2.49 million Indian visitors
- US 2.06 million Indian visitors
Why this matters
Operators like Thomas Cook and SOTC are well-positioned to capitalize on India's structural outbound surge, making travel-retail and experiential-travel assets attractive M&A and partnership targets.
What to watch
- Monthly departure data and airfare indices vs West Asia routing costs
- INR/USD exchange rate and crude oil price movements
- Visa policy changes (US wait times, Schengen, ASEAN e-visa)
- Airline capacity additions on outbound India corridors
- Q4/festive-season booking momentum from tour operators
- Thomas Cook/SOTC expand experiential and premium package inventory targeting Thailand, US, and visa-friendly destinations
- Airlines and OTAs add capacity on India-SE Asia and India-US routes to capture volume
- Travel retail operators (duty-free, airport concessions) scale Indian-language and UPI payment offerings
- Destination tourism boards intensify India marketing spend and e-visa easing