The emergence of nuclear family set-up coupled with a steep rise in the income have changed the way they enjoy their holiday. "If we ever happen to go through the holiday brief or note of the children which they often submit to their class teachers after their summer and winter breaks nowadays, we would be at no wonder to find the vivid detail of the scenic and exotic places which they enjoyed with their parents. The note of their description will be more than enough to point out the latest fad in their lavish living," says Radhika Shastry, Managing Director, RCI Group India, a global leader in non-hotel leisure accommodations. "The Indian vacationer requirements have shifted rapidly during the past few years to something aspirational and luxurious," she says.
India is expected to be the third fastest growing country in the world in travel and tourism demand over the next ten years, according to the Pacific AsIa Association . The growth potential along with the the 19.8 per cent increase in the number of the members living in India with financial assets of more than USD 1 million versus 6.5 per cent growth worldwide is showing its impact in this sector, according to the Total Tourism Study by the Pacific Asia Travel Association.
"The market for leisure real estate continues to grow globally and should gain momentum over the next few years", says Kenneth May, Chairman and Chief Executive Officer of the Group RCI Global Vacation Network.
He adds "In particular, India and Asia are showing some of the greatest potential for growth. The success that our clients had in developing shares ownership in India point to the fact that the country is not only an attractive destination for tourists but also an opportunity to explore new formats in the real estate developer or the hotel which owns it". Relaxation for the stressed-out career-person, rejuvenation for the elderly who want to avoid the colder climes as well as fun, frolic and adventure for the younger lot is what western style beach holidaying offers.
Plus, adventure activities such as enjoying the thrills of windsurfing, aqua biking or water-surfing are bonanza which nature lovers are provided with. The sun-soaked horizons of the Konkan Coast or the isolated, unexplored stretches along the Arabian Sea, golden sands of Goa and seashores alongside Kerala's backwaters, all beckon hordes of holidaymakers to savour beach vacations. "Further, opening up leisure destinations help in the development of the land and the nearby area. Real estate developers buy huge plots of land next to luxury destinations, airports etc. and the civic amenities come up next', adds Radhika Shastry. Cashing in on the growing aspirations, real estate developers are also moving up the value chain leisurely offerings like chalets, villas and condominiums. The market for leisure real estate products such as CondoTels, fractional properties , mixed use hotels, traditional timeshare or destination clubs is emerging as one of the most profitable business globally. "A couple of years ago with the timeshare model, destinations in South India like the Coorg, Munnar and others opened up and now we are exploring areas like the Malabar Coast and the pristine beauty of North Kerala", says Shastry.
"Indians are not looking for a getaway alone but want the whole experience now including the food and lifestyle," says Aniruddha Haldar, Head Marketing, Club Mahindra Holidays.
PTI
