Air passengers grow 84 pc in March quarter

Chennai: With leisure travel booming, around 97 million passengers travelled through Indian airports for domestic and international trips, registering 84 per cent growth.

The first three months of 2024 have registered 97 million passengers traveling through Indian airports for both international and domestic trips, as per the report by Mastercard Economics Institute. According to the data of the Ministry of Civil Aviation, in the March quarter of 2023, airlines carried 37.5 million domestic passengers and 15.1 million foreign passengers, totaling 52.6 million air passengers.

 “In 2024, fueled by a growing middle class and expanded route capacity, more Indians are traveling internationally than ever before. In the first three months of 2024, 97 million passengers travelled through Indian airports. Just 10 years ago, the same figure would have taken a whole year to achieve,” said the report.

As of March, domestic air passenger traffic surged 21 per cent above 2019 levels and international travel rose by 4 per cent. Indian travelers are increasingly exploring key markets, with a 53 per cent increase in visits to Japan, a 248 per cent growth to Vietnam, and a 59 per cent rise in visits to the United States, compared to 2019, despite a stronger US dollar.

Amsterdam, followed by Singapore, London, Frankfurt, and Melbourne are the top five trending destinations that Indian travelers are visiting this summer between June and August.

 “Consumers in the Asia Pacific region have an intense desire and willingness to travel and are becoming increasingly savvy to ensure they get the best value and unforgettable experiences from their trips,” said David Mann, chief economist, Asia Pacific, Mastercard.

 Reiterating the trend, MakeMyTrip made the highest-ever gross bookings in the March quarter. “Indians are embracing the call to travel with a newfound enthusiasm with both leisure and business-related travel demand in India having crossed pre-pandemic levels. It has helped us deliver strong growth in a quarter that is typically a seasonally slower period for leisure travel. We have posted our best-ever financial performance during FY24 in terms of both gross bookings and profit,” said Rajesh Magow, Group Chief Executive Officer, MakeMyTrip.