As affluence rises, Indians spend more on travel than retail: Visa | Industry News

Travel is emerging as the biggest beneficiary of rising affluence in India, with spending on experiences accelerating as consumers move up the wealth ladder. As affluence rises, travel’s share of spending increases significantly. Data from a white paper by Visa Consulting & Analytics (VCA) shows that while travel accounts for about 28 per cent of spending among emerging affluent consumers, it rises to nearly 58 per cent among the ultra-elite. In contrast, retail’s share declines from 49 per cent to 28 per cent across the same segments.

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