The most recent study conducted by Report Ocean, titled “Global Impact of COVID-19 Outbreak on Indian Outbound Travelers Traffic Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Impact of COVID-19 Outbreak on Indian Outbound Travelers Traffic. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
The objective of this market research report is to provide an overview of the development of the Indian outbound travelers traffic to the major continents and to give an insight into the Indian outbound travelers’ traffic and market revenue to the GCC countries.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The GCC Countries which we covered in the report are UAE, Saudi Arabia, Oman, Qatar, Kuwait, and Bahrain.
The database of the following report is defined as follows:
– Total India Outbound Travelers Visitation & Forecast – By Continents (2018 – 2025)
– India Outbound Travelers Visitation to the GCC Countries & Forecast (2018 – 2025)
– India Outbound Travelers Market Revenue to the GCC Countries & Forecast (2018 – 2025)
– India Outbound Travelers Visitation Share to the GCC Countries & Forecast (2018-2025)
– India Outbound Travelers Market Revenue Share to the GCC Countries & Forecast (2018-2025)
– Weekly Flights & Seats from India to the GCC Countries
– Key Development in the India Outbound Tourism to the GCC Countries
– Key Market Drivers and Inhibitors of the India Outbound Tourism Market to the GCC Countries
Note: We have thoroughly studied the impact of the COVID 19 outbreak into this market research report.
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Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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