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25, 2017 /PRNewswire/ -- Increasing domestic and international tourist footfall, and introduction of e-tourist visas are anticipated to boost growth in India travel & tourism market during the forecast period. Rising demand for travel & tourism coupled with entry of new players in the market is leading to a stiff competition and this is projected to boost growth in India travel & tourism market. Further, government of India has realized the country's potential in travel & tourism industry and has taken several steps to make India a global tourism hub. Moreover, increasing trend of comparative pricing and online bookings is anticipated to fuel growth in India travel & tourism market through 2021. Changing lifestyles, increasing disposable income levels, rising urbanization and growing fleet of low cost airline carriers are also anticipated to augur well for the growth of travel and tourism market in India in the coming years. According to "India Travel & Tourism Market, By Product/Service Offering, By Type, By Purpose of Visit, By Tourist Profile, By Average Duration of Stay, By Mode of Travel, Competition Forecast and Opportunities, 2011 - 2021", the market for travel & tourism in India is forecast to grow at a CAGR of around 7.23% during 2016-2021, on account of increasing trend of medical, wellness and adventure tourism in the country and rising number of online bookings due to growing smartphone and internet penetration. Additionally, Government of India has also been focusing on the launch of several marketing and branding initiatives such as "Incredible India!" and "Athiti Devo Bhava". This is projected to further propel growth in India travel & tourism market over the course of next five years. Domestic tourism dominated India travel & tourism market in 2015, on account of increasing number of local excursions, reginal trips, national level trips, etc., and the segment is expected to maintain its dominance in the market through 2021.
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