The Arabian Travel Market (ATM) 2024, slated from May 6-9 at the Dubai World Trade Centre, is gearing up to shed light on India’s burgeoning outbound tourism sector, poised to reach a staggering USD 143.5 billion annually by the decade’s end.
Recent data reveals that over 30 per cent of Indian travellers prefer Middle East destinations, with the UAE and Saudi Arabia topping the list. India stands as Dubai’s primary source market, with 1.9 million visitors recorded in the first 10 months of 2023. Saudi Arabia, on the other hand, aims to welcome 7.5 million visitors by 2030.
ATM 2024 will feature a dedicated India Summit, titled ‘Unlocking the True Potential of Inbound Indian Travellers,’ slated for May 6. This summit, in collaboration with VIDEC Consultants, will delve into India’s role as a key tourism growth market and explore current and future opportunities.
Danielle Curtis, Exhibition Director ME, Arabian Travel Market, highlighted India’s rapid outbound growth, fueled by a burgeoning middle class. “By 2030, India’s total travel expenditure will be valued at USD 410 billion, a substantial increase from USD 150 billion in 2019,” she stated.
Moreover, a survey by Acko Insurance underscores Indian travellers’ willingness to spend up to USD 7,000 on international trips, further boosting the appeal of Middle East destinations. Dubai, in particular, stands out as the preferred city destination, thanks to its proximity to India and enhanced connectivity.
Under this program, tourists can obtain a visa within two to five working days, allowing them to stay in Dubai for up to 90 days, extendable once for a similar period, with a maximum stay of 180 days within a year. This flexible visa option caters to both leisure and business travelers, offering unparalleled convenience and connectivity.
Curtis emphasised the significant role of Indian expatriates in driving business travel and bleisure in the Gulf states. “With over 8.5 million Indian expatriates currently working in the GCC, business travel and bleisure will undoubtedly underpin this growth,” she noted.ATM 2024 anticipates a record number of travel professionals representing both outbound and inbound travel to India. With an expected 20 per cent increase in exhibitors from India, the event will showcase the diverse offerings of Indian tourism, featuring exhibitors like TBO.com, Taj Hotels, Rezlive, and Rategain, among others.
Aligned with its theme, ‘Empowering Innovation: Transforming Travel Through Entrepreneurship,’ ATM 2024 will serve as a platform for stakeholders from across the Middle East and beyond to explore innovative solutions and opportunities in the ever-evolving travel industry.
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Wise, a leading global technology company specialising in international money transfers, has unveiled crucial insights into ATM withdrawal fees for Indian travellers visiting popular destinations across the Asia-Pacific (APAC) region.
As travellers gear up for international trips in 2024, Wise’s latest research provides guidance on managing finances abroad, particularly focusing on ATM withdrawal fees. By analysing data from its extensive database, Wise sheds light on the potential costs associated with cash withdrawals in various APAC destinations, helping travellers optimize their vacation budgets effectively.
According to the research, Turkey emerges as the costliest destination in the region for ATM withdrawals, with travellers facing an average fee of 4.44 per cent per transaction. This is followed by Bhutan (3.16 per cent) and Nepal (2.79 per cent). On the flip side, destinations like Malaysia, Indonesia, and Hong Kong offer friendlier ATM fees, with fees under 1 per cent.
Among popular travel spots for Indian tourists, Thailand ranks fifth with an average ATM withdrawal fee of 2.62 per cent, followed by South Korea (2.55 per cent) and Vietnam (1.85 per cent). In contrast, mainland China and Malaysia boast some of the lowest ATM fees at 0.01 per cent and 0.03 per cent, respectively.
2022 brought a resurgence in foreign tourist footfall, with FTVs surging to 1.75 lakh, showcasing growth of 695.45 per cent. However, the numbers still were below the pre pandemic levels. Going forward, Goa Tourism plans to intensify its promotion efforts in international markets by participating in prominent travel marts and exhibitions and organising international roadshows to attract more foreign tourists to the state.
To put the impact of these fees into perspective, withdrawing ₹10,000 per day for a week in Turkey would result in approximately INR 3,108 in fees. In comparison, the same withdrawal in Malaysia would incur only INR 21 in transaction fees.Surendra Chaplot, Head of Global Product, Wise, emphasised the importance of being aware of hidden expenses when conducting international transactions, including foreign transaction fees and undisclosed exchange rate markups. Chaplot highlighted Wise’s commitment to raising consumer awareness about such fees to empower travellers to make informed financial decisions.
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