India is poised to become the next big travel market in the world, projected to hit the fifth rank in outbound travel with spends of $89 billion in 2027 as compared with the current 10th position with $38 billion in 2019.

The projections are in a report by Bernstein that tries to identify the potential big markets for travel.

In terms of tourist inflows, India is projected to become the third largest domestic market by 2027 with spends of $174 billion, up from the $127 billion spent in 2019 when it was in fifth place.