Wednesday, June 19, 2024
Reading Time: 3 Minutes
Digital payment solutions offered by Visa India are being expanded to cater to the growing demand for experiential travel and medical tourism.
Visa cards are currently accepted in over 200 countries and territories, supporting Indian travellers seeking authentic connections and immersive experiences, a trend influenced by social media and a shift towards lesser known destinations and eco-friendly practices.
In 2023, the tourism industry in India is expected to contribute significantly to the economy, with a market size estimated at Rs 1,004.3 billion.
Wellness tourism has emerged as a particularly promising sector: the wellness tourism market is expected to be worth approximately Rs 1,591 crore in 2024 and reach Rs 2,655 crore by 2029.
Medical tourism is a major contributor to India’s inbound travel sector, with many visitors planning to travel for both minor dental and cosmetic procedures, or major interventions, all at a fraction of the cost compared to the West. Visa has ensured that international credit and debit cards are widely accepted at hospitals and health centers, minimizing concerns about exchanging cash or carrying large amounts of cash.
Visa offers strong fraud protection 24/7/365 to enhance the security of your card transactions.
India’s blend of ancient healing practices such as Ayurveda, Siddha and Yoga with biodiversity has made it an attractive destination for health-conscious tourists. Cities such as Mumbai, Chennai and New Delhi, as well as areas such as Rishikesh and Kerala, are becoming increasingly popular for such therapies.
India is positioning itself as a leading global wellness destination by blending ancient healing practices with rich biodiversity to appeal to wellness travelers looking for cost-effective options.
Digital platforms have made wellness services more accessible and are playing a major role in the growth of this sector.These platforms have simplified the discovery and access to wellness services, contributing greatly to the growth of wellness tourism in India.
The Ministry of Tourism is promoting wellness tourism under the slogan “Incredible India” and working with states and union territories to strengthen it. The Ministry of Ayush is supporting traditional wellness methods through initiatives such as International Yoga Day and Ayush Grid, while the private sector is setting up wellness hubs and investing in training practitioners to international standards.
Visa has launched a pilot program with an Indian medical tourism aggregator to offer Visa cardholders in certain countries concierge-like services and discounts on hospital care, which has resulted in a significant increase in enquiries.
Online booking platforms and mobile applications are simplifying trip planning and facilitating more informed and impromptu travel decisions, while digital wallets and contactless payment methods are streamlining transactions and reducing the need for cash, making travel more flexible and efficient.
Visa has partnered with participating banks to enable broad card acceptance, including tap-on entry/tap-on exit on subways and public transport at major tourist destinations. This broad card acceptance, including tap-on entry/tap-on exit on subways and public transport at popular tourist destinations, contributes to a more flexible, efficient and tourist-friendly environment.
Visa, a global digital payments leader, plays a key role in growing India’s cashless economy. By providing secure and reliable digital payment solutions, Visa has enabled millions of Indians to move from cash-based transactions to digital payments. The company partners with banks, fintechs and merchants across the country to offer a wide range of payment options, including credit and debit cards, contactless payments and mobile wallets. These innovations make it easier for consumers to shop, pay bills and securely transfer money, driving the growth of India’s digital economy.
India’s tourism industry has benefited greatly from the widespread adoption of digital payments facilitated by Visa. Tourists enjoy the convenience of making payments without having to carry cash or worry about exchanging currency. This ease of transactions has improved the overall travel experience, encouraging more tourists to explore India’s diverse attractions. From booking flights and hotels to paying for local transport and meals, digital payments have streamlined the entire travel process. This has resulted in increased spending in the tourism sector, contributing to the economy and promoting India as a modern, tourist-friendly destination.
