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Cnk presentation may2011 Cnk presentation may2011 Presentation Transcript

  • 1www.coxandkings.com
  • DisclaimerThis presentation has been prepared by Cox & Kings Limited (the “Company”) solely for your information and foryour use and may not be taken away, reproduced, redistributed or passed on, directly or indirectly, to any otherperson (whether within or outside your organization or firm) or published in whole or in part, for any purpose. Byattending this presentation, you are agreeing to be bound by the foregoing restrictions and to maintain absoluteconfidentiality regarding the information disclosed in these materials.The information contained in this presentation does not constitute or form any part of any offer, invitation orrecommendation to purchase or subscribe for any securities in any jurisdiction, and neither the issue of theinformation nor anything contained herein shall form the basis of, or be relied upon in connection with, anycontract or commitment on the part of any person to proceed with any transaction. The information contained inthese materials has not been independently verified. No representation or warranty, express or implied, is madeand no reliance should be placed on the accuracy, fairness or completeness of the information presented orcontained in these materials. Any forward-looking statements in this presentation are subject to risks anduncertainties that could cause actual results to differ materially from those that may be inferred to beingexpressed in, or implied by, such statements. Such forward-looking statements are not indicative or guaranteesof future performance. Any forward-looking statements, projections and industry data made by third partiesincluded in this presentation are not adopted by the Company and the Company is not responsible for such thirdparty statements and projections. This presentation may not be all inclusive and may not contain all of theinformation that you may consider material. The information presented or contained in these materials is subjectto change without notice and its accuracy is not guaranteed. Neither the Company nor any of its affiliates,advisers or representatives accepts liability whatsoever for any loss howsoever arising from any informationpresented or contained in these materials.THIS PRESENTATION IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES ORELSEWHERE. 2 www.coxandkings.com
  • Contents Company Overview Competitive Strengths Achievements Business Strategy Financials Industry Fundamentals 3 www.coxandkings.com View slide
  • Company History Business Profile Shareholding Details Key Global Subsidiaries www.coxandkings.com View slide
  • Company History C&K Brand has evolved over 250 years 2010-11 # 1 Among Top Brands in India(1) Cox & Kings is a global 2006-09 tour and travel company. The Company is a ‘one stop Leading Player in the Indian Market Acquired and shop’ for travel 1999-2006 consolidated solutions businesses with focus on leisure travel; listed on the Indian stock 1970-99 Expanded product exchange portfolio to become a full service Indian tour operator 1970 Largely operated as a ticketing agent; non leisure business accounted for over 50% of the revenues in 1999 Cox & Kings agency 1923 was bought by Grindlays Bank in a deal with the Indian Business was sold to Govt. 19th Cent. Lloyd’s Bank; which became a separate company running tours around the world 18th Cent. Merged with Henry King & Co, to form Cox’s & King’s; Henry S. King & Co had strong links with India 1758 Company established by Richard Cox provided services to majority of the BritishRichard Cox served regimentsas a regimental agentto the Majesty’sArmed Forces Note: 1.Based on survey conducted in 2008 by TNS and co-funded by Media magazine across 10 countries in Asia Pacific region 5 www.coxandkings.com
  • Business Profile Leisure Travel Corporate Travel Visa Processing & Innovative Products Foreign Exchange • Outbound Travel • Offerings that • Customized business • Outsourced business differentiate Cox and • Inbound Travel (Destination travel solutions solution provider to Kings from management) diplomatic missions competitors • Domestic TravelOfferings • Licensed retail foreign • Create brand value • Meeting, Incentives, exchange dealer in for the company Conferences and Exhibitions India (MICE) • Strategic partnership • Trade Fairs • 200+ companies • Visa for India from • In all operational • Retail clients in India, UK, Germany, UAE, Hong Australia, New Zealand, located in India markets kong, Greece and Japan, USA and UAE SingaporeMarkets • Visa‟s for Malaysia and Singapore from India and French Visa from UK • Fx operations in IndiaPortfolioSample Kumbh Mela, India 6 www.coxandkings.com
  • Shareholding Details Price Details 600 22,000Equity Capital as on 31st March Market Cap. on 31st March 2011 2011 500 INR 2,861.28 cr 400 20,000 6,82,63,945 300 3- Month High /Low 200 18,000 CMP on 31st March 2011 (Feb 2011 – Apr 2011) 100BSE : INR 419.2 NSE : INR 413.6 High INR 464.8 - 16,000 Low INR 358.7 Dec 10 Jan 11 Feb 11 Mar 11 Cox & Kings Sensex Shareholding Pattern FII,NRIs and Foreign Banks, Mutual Corporate Funds & FI Bodies 8.6% 24.0% GDR 3.4% Promoter Other 58.7% Corporate Bodies and Public 5.3% As on 31st March 2011 Source: BSE 7 www.coxandkings.com
  • Key Global Subsidiaries Subsidiary Operational Highlights • Premium long-haul outbound tour operator Cox & Kings (UK) Ltd., UK – Target segments – Wealth retirees – Key destinations – India, Latin America etc. • Provides destination management services in Europe Cox & Kings Destination Management Services – Mid market to premium positioning (Formerly ETN Services Ltd.) UK – Services to group companies as well as other tour operators • Outbound wholesaler selling white label packages to other tour operators Cox & Kings Japan Ltd. – Caters for business delegations and leisure travel • Provides destination management services for travellers from Japan • Outbound – Mass market oriented travel packages Tempo Holidays Pty Ltd, Australia; • Synergies with ETN Services and C&K Dubai as key tourist destinations are Europe and Middle East Tempo Holidays NZ Ltd, New Zealand • Uniquely positioned as one of the few large independent tour operators • Specialist outbound travel MyPlanet Australia Pty Ltd, Australia; – Tourists from Australia and New Zealand Bentours International Pty Ltd., Australia – Leading outbound tour and travel operator to Scandinavia • Inbound – Service provider to a large number of tourists from Cox & Kings India Cox & Kings Tours LLC, UAE • Outbound – Initially tapped expat Indian population; subsequently tour operator for local population • Premium outbound luxury packages for celebrity clientele East India Travel Company Inc., USA • Outbound tours to Africa, Latin America, Asia and Middle East Quoprro Global Services Pte. Ltd., Singapore; • Engaged in the business of providing visa processing services Quoprro Global Services Pvt. Ltd., Hongkong; Cox & Kings Gmbh, Germany; Cox & Kings Hellas, Greece Cox & Kings Global Services Pvt. Ltd., India 8 Note: 1. Cox & Kings Ltd. has a 100% commercial interest in all its subsidiaries www.coxandkings.com
  • Vast Geographical Presence Multiple Sales Channels Brand Image Technological Prowess Experienced Management Team Corporate Social Responsibility SWOT Analysis www.coxandkings.com
  • Vast Geographical Presence Russia United Kingdom Germany United States Spain Italy of America Greece Japan UAE India Taiwan South East Asia Brazil Australia South Africa New Zealand Subsidiaries International Branch Offices Representative Offices 10 www.coxandkings.com
  • Multiple Sales Channels India Distribution Network Online Distribution Network Delhi Jaipur Ahmedabad Kolkata Mumbai Pune Hyderabad Cox & Kings India Portal Cox & Kings UK Portal Goa Bangalore Chennai Kochin 13 Branch Offices Over 150 Franchisee Sales Shops Cox & Kings Japan Portal Radius Inc. 177 Preferred Agents 11 www.coxandkings.com
  • Brand Image LEISURE TRAVEL CORPORATE TRAVEL  Cox & Kings offers products that are either pre-packaged  Cox & Kings offers customized business travel through brochures or tailor-made as per requirements of a solutions to our corporate clients in India through a team group and an individual traveller. of dedicated corporate relationship managers.  Leisure Travel can be Outbound, Inbound or Domestic.  We provide corporate travel services in India to more than 200 companies, both domestic and international.  It contributes more than 90% of the consolidated revenues in each of the three most recent financial years. FOREIGN EXCHANGE VISA PROCESSING  Cox & Kings provides foreign exchange services to our  Cox & Kings provide visa processing services as an customers in India as a licensed Category II Authorised outsourced business solution to diplomatic missions in Dealer . various countries, where we are the providers of visa processing services for inbound travellers in India.  We provide foreign exchange services either as part of our Leisure Travel and Corporate Travel packages or on  Visa services are provided in the categories of Tourist a standalone basis. visa, Transit visa, Business visa, Student visa, Conference visa and Entry and Employment visa. 12 www.coxandkings.com
  • Maharajas’ Express – The Luxury Train  Joint venture with IRCTC; successfully launched the train in March 2010, the Maharajas Express is the last word in luxury train travel and the ultimate way to see India in style.  The train has a capacity of 86 passengers in 23 coaches with two bars and two restaurants.  There are four different itineraries (7-8 days each)  Total of 28 journeys a year; scheduled between September and April . Maharajas’ Express Journey Royal India Princely India Classical India 13 www.coxandkings.com
  • Technological Prowess Technology Platforms Top End Software • Web enabled reservation engine • Latest data-management • Centralized dynamic packaging software, including ERP system • Proprietary software for our Visa • Covers all travel related services Processing business with such as reservations, insurance, technical support from a leading visa and package tours technology company globally Services Security • B2B as well as a B2C solution, • Servers are secured with firewalls providing a backbone to the Global • Robust security systems including Distribution Systems (GDS) biometrics identifiers, fingerprints • Online payment gateways integrated and photographs for visa to existing technology platform application • Fully integrated computer • Strong disaster management, reservation systems (CRS) with our including recovery solutions and mid and back office operations scheduled backups Improve efficiencies and reduces Turn Around Time: Dynamic designing of packages; increasing business handled per employee Seamless integration of operations of acquired entities Ability to introduce white label/ co-branded offerings for clients such as Jet Escapes 14 www.coxandkings.com
  • Experienced Management Team Corporate Leadership A.B.M Good Peter Kerkar Urrshila Kerkar• Promoter & Executive Chairman • Promoter & Executive Director • Promoter & Executive Director• In 1971 appointed on the Board of Cox • Joined Cox & Kings Travel Ltd. in • Responsible for day-to-day & Kings (UK) and in 1975 was 1986 as a General Manager management at C&K India, appointed Chairman of the Group • On the board of C&K since 1993 marketing & design initiatives at• Previously acted as a consultant to the • Responsible for overall leadership, the Group parent company of British Caledonian strategy, global centralized buying • Prior to her current role, she was Airways and international growth running a graphic design and• Associated with C&K for several • Founder member & director of production house decades, he has been a constant World Tourism Council for the guiding force to the Company Indian Subcontinent Independent Directors S C Bhargava M Narayanan Pesi Patel• Independent Director • Independent Director • Independent Director• Retired from Life Insurance Corporation • Three decades of experience in • Ex-CMD of Tourism Finance of India as Executive Director the industry Corporation of India Ltd (Investment) • Key member in determining • Held senior management positions future strategies for the Cox & in IFCI and Bank of Baroda Kings GroupAs of March 31, 2011, total of 1,680 employees across the Asia Pacific region, Europe, the Middle East and NorthAmerica 15 www.coxandkings.com
  • Corporate Social Responsibility C&K, an official travel partner of „Make-A-Wish Foundation (MAWF) of India’, assists MAWF in granting wishes of children with life threatening diseases. C & K contributes towards the activities of „Magic Bus Foundation’ which works for the development of underprivileged children C&K employees participated in the Standard Chartered Mumbai Marathon 2011 with „Om Creations Trust ‘as our Charity. C&K Mumbai & Delhi employees took part in an initiative conducted by „Cankids-Kidscan’ , an organization which works with children suffering from cancer . C&K has had a long standing relationship with the „Cancer Patients Aid Association’. 16 www.coxandkings.com
  • SWOT Analysis S TRENGTHS W EAKNESSES • Strong Brand Value • Substantial investment needed to compete • International Market Presence with International firms entering Indian market • Strong segmental performance through tie-ups or buy-out of local firms • Wide Distribution Network • Premium products brand image would affect • Asset-light model adversely in competition with cheaper • Relationship with key suppliers operators or charters. • Delivering high quality customer service • Industry move towards more direct • Trained Professional Staff Strength distribution and reduced commissions O PPORTUNITIES T HREATS • Franchisee network to penetrate smaller cities • Tourist flow is highly sensitive to adverse with untapped propensity to travel Political, natural, economic events. • Wider reach through net enabled sales • Increase in tax incidence on industry • Acquisitions within the industry to provide • Existing Regulatory framework and changes significant synergies and economies of scale. regarding registrations, disclosures and state funds affect C&K as well their suppliers including CRS companies. 17 www.coxandkings.com
  • Global Acquisitions Commencement of New Operations - 2011 Awards and Recognitions www.coxandkings.com
  • Global Acquisitions Cox & Kings Destination Management Services FY2006 (Formerly known as Clearmine Ltd. – ETN services Ltd.) • Destination management service Cox & Kings (UK) Ltd. (Formerly Cox & Kings Ltd. ) • Outbound travel operations catering to the up-market leisure travel business FY2008 Cox & Kings Japan Ltd. • Travel wholesaler • Revenues principally from packages consultancy and services for major wholesalers and societies Quoprro Global Services Pvt Ltd • Visa processing services FY2009 Tempo Holidays PTY, Australia; Tempo Holidays NZ Ltd., New Zealand • Specialized outbound tours East India Travel Company Inc • Up-market outbound tour and travel packages FY2010 My Planet Australia, BenTours International Pty Ltd. • Specialized outbound tours 19 www.coxandkings.com
  • Commencement of New Operations - 2011 Cox & Kings Global Services (CKGS) , a 100 % subsidiary of Cox & Kings Ltd.; provides comprehensive processing services to diplomatic missions across the world. CKGS has tied up with DNATA to form C&K Marhaba Dubai Visa(CNKMDV) to provide visa processing services to Dubai/UAE and to promote/ sell Marhaba Services in India for passengers arriving and departing at Dubai International Airport. CNKMDV has set up offices in 11 cities across India with its headquarter based in Mumbai. The centres include Delhi, Amritsar, Jaipur, Kolkata, Mumbai, Pune, Ahmedabad, Chennai, Kochi, Hyderabad and Bengaluru In February 2011, C&K commenced its operations by opening up a branch in Taiwan The branch would be handling outbound operations mainly tapping the European market which would help in creating revenue synergies . Taiwan is an emerging market in the T & T industry and is likely to get sizeable business for C & K 20 www.coxandkings.com
  • Awards and Recognitions2010-11 “Indias Leading Destination Management Company” awarded by the World Travel Awards 2010. CNBC Awaaz Travel Award 2010 for “Taking India Global”. “Best Outbound Tour Operator” awarded by Hospitality India and Explore the World Annual International Awards 2010. “First Runner Up” in the Best Large Tour Operator category awarded by the Telegraph Ultra Travel luxury survey UK 2010. “First Runner Up” in the Favourite Tour Operator category awarded by Condé Nast Traveller Readers’ Choice Awards (2010). "Most admired tour operator 2010" awarded by SATTE (2010)2009-10 Most Innovative Travel Company -Today’s Traveller Travel Awards, 2009 The Economic Times Survey: Cox and Kings voted as the Top Rated Tour Operator 2009 –Outbound Best Domestic Tour Operator – TAFI award by TravelBiz Monitor Travel Awards, 2009 Best Inbound Tour Operator – TAFI award by TravelBiz Monitor Travel Awards, 2009 Most Innovative Product Launch TAFI Award – TravelBiz Monitor Travel Awards, 2009 Ministry of Tourism, Govt. of India ‘BEST DOMESTIC TOUR OPERATOR’ 2003 -04, 2004-05 2005-06 21 www.coxandkings.com
  • Strategic Outlook Consolidated Buying Group Strategy www.coxandkings.com
  • Strategic Outlook Strategic initiatives for profitable growth • Constant upgradation of International Domestic Strategy product and service offerings Strategy • Increasing online presence• Foray into Tier II and through a global technology • Inorganic growth Tier III cities platform through selective acquisitions• Expansion of • Consolidated Buying Group outbound leisure Strategy leading to profitable • Increasing the global travel sub-segment business distribution network • Creating strong shareholder value 23 www.coxandkings.com
  • Consolidated Buying Group Strategy Increase in business and business volumes due to organic as well as inorganic growth has led to an increase in the Operating Income by 32% (FY09-11) Since 2008, products sourced through global consolidated efforts has led to • better bargaining power with suppliers • ability to offer competitive packages to customers leading to higher revenue and better margins 50% 47% 47% Organic Growth + Inorganic Growth 40% 42% Expansion in Business Volumes 30% 26% 24% 22% 20% 10% Bargaining Power 0% 2009 2010 2011 Note: (1) EBITDA margin calculated after excluding other income (2) PAT margin calculated considering Adjusted PAT before exceptional Items EBITDA Margin(1) PAT Margin(2) 24 www.coxandkings.com
  • Key Balance Sheet figures Key Ratios Consolidated Financials Q4 FY 11 Revenue Contribution www.coxandkings.com
  • Key Balance Sheet Figures (INR in MM) Particulars FY 11 FY10 Y-o-Y Change Current Assets 17,666.2 9,565.4 85% Total Assets 31,191.5 15,250.4 105% Current Liabilities 2,681.3 1,769.5 52% Total Liabilities 11,474.6 7,156.44 60% Stockholders Equity 12,078.5 8,101.1 49% Debt 8,443.3 5,043.3 67% Cash and Cash Equivalents 11,294.6 5,885.0 157% Net debt (2851.3) (841.7) 26 www.coxandkings.com
  • Key Ratios Operating Income PAT (INR MM) (INR MM) 6,000 4,967 1,500 5,000 3,992 1,200 4,000 1,188 2,869 1,055 900 3,000 2,000 600 634 1,000 300 0 0 FY09 FY10 FY11 FY09 FY10 FY11 Key Components of Operating Expenditure EBITDA & PAT Margin(1) as a Percentage of Operating Income (%) (%) 30% 28% 47% 25% 26% 50% 47% 42% 25% 40% 26% 20% 30% 24% 22% 15% 12% 20% 10% 9% 9% 10% 5% 0% 0% FY09 FY10 FY11 FY09 FY10 FY11 EBITDA Margin PAT Margin Personnel Expenditure Advertising Note: (1) EBITDA margin calculated after excluding other income (2) PAT and PAT margin calculated considering Adjusted PAT before exceptional Items 27 www.coxandkings.com
  • Consolidated Financials Q4FY11 • Q4FY11 Operating Income for the Group stood at INR 1,587.5 Mn i.e. an increase of 16% over the same period last year • EBITDA increased to INR 825.6 Mn i.e. an increase of 15% over EBITDA for Q4 FY10 Cox & Kings Ltd. Consolidated Q4 Results (INR Mn) Q-o-Q Year Ended Year Ended Y-o-Y Particulars Q4 FY 11 Q4 FY 10 Change FY 11 FY 10 Change Income from Operations 1,587.5 1,369.2 16% 4,967.4 3,991.5 24% Employee Cost 337.4 288.5 1,295.7 994.1 Advertisement Cost 98.4 81.4 423.4 357.0 Depreciation 51.6 50.3 185.5 150.7 Other Expenditure 326.1 279.5 947.7 776.1 Total Expenditure 813.5 699.8 16% 2,852.3 2,277.9 25% Profit from operations before Other Income, Interest & Exceptional Items 773.9 669.4 16% 2,115.1 1,713.6 23% Other Income 72.4 67.1 257.0 137.3 Profit before Interest & Exceptional Items 846.3 736.5 15% 2,372.1 1,850.9 28% Interest & Finance Charges (Net) 121.3 87.4 543.9 269.7 Profit before Exceptional Items 725.0 649.1 12% 1,828.1 1,581.2 16% Exceptional Items Gain / (Loss) 0.7 26.2 102.9 283.8 Profit from Ordinary Activities before tax 725.7 675.4 7% 1,931.0 1,865.0 4% Tax Expense 258.2 223.2 625.2 516.9 Net Profit from Ordinary Activities after tax 467.5 452.2 1,305.9 1,348.1 Share in the Profit/(Loss) of Assoicates (6.2) (2.3) (15.0) (9.6) Extra-ordinary items - - Net profit for the period 461.3 449.9 3% 1,290.9 1,338.5 -4% Note: There Is a foreign exchange gain of Rs.10.29 crores on account of foreign currency loan revaluation in FY2011 as against Rs.28.38 crores in FY2010 .Hence, the PAT is marginally lower for the year ended 2011 as compared to the previous year. 28 www.coxandkings.com
  • Revenue Contribution FY 2010 Q4 FY 2011 FY 2011 UK Travel UK Travel UK Travel 18% 21% 21% ETN India ETN 3% India 41% ETN 1% 44% India 5% CNK Japan CNK Japan 48% 8% 10% CNK Japan 9% East India 5% East India Australia Australia East India Australia 7% Dubai 13% 15% Dubai 12% 4% Dubai 5% Others 2% 3% 3% Others 2% India’s Revenue Contribution has increased significantly from 44% in 2010 to 48% in 2011 Revenue from Dubai Subsidiary shows a 72% increase in 2011 over 2010; which is 4% of the Total Consolidated Revenue Revenue from East India and Australia has increased by 18% and 17% respectively in 2011 over 2010 29 www.coxandkings.com
  • Indian T & T market India Tourism - Inbound India Tourism - Outbound India Tourism - Domestic International Tourism - Growth & Forecasts Core Markets www.coxandkings.com
  • Indian T & T market 2010 - GDP (at Purchasing Power Parity) T & T markets by Size (US$ trillion) $16.0 $14.7 Year 2010 (USD 2020 (USD CAGR (%) bn) bn) $12.0 China 113 501 16.1 $9.9 India 42 111 10.2 $8.0 USA 511 917 6.0 $4.3 $4.0 United Kingdom 89 148 5.2 $4.0 $3.0 $2.2 Australia 50 80 4.8 $0.0 United China Japan India Germany United States Kingdom Source: WTTC, 2010 Source: CIA World Factbook Indian economy is the 4th largest economy globally T & T industry in India will grow at a CAGR of 10.2 % over 2010-2020; thus a fast growing T & T market Direct contribution of Travel &Tourism to GDP is expected to be INR 1,570.5 bn (1.9% of total GDP) in 2011, rising by 8.1% pa to INR 3,414.8 bn (2.0%) in 2021 India is expected to attract 6,179,000 international tourist arrivals in 2011 which is expected to rise to 11,149,000 in 2021 i.e. an increase of 6.1% pa 31 www.coxandkings.com
  • India Tourism - Inbound Receipts & Arrivals Composition - 2010 (in 000 trips) (INR bn)10000 760 MICE 7768 4% 8000 7221 720 6755 6356 717 6012 5722 6000 680 Leisure 689 61% 666 Business 4000 640 35% 647 631 2000 619 600 0 560 2010 2011E 2012E 2013E 2014E 2015E Arrivals (in 000 trips) Receipts ( in INR bn) Over the past years, US and the UK remained the top two largest source countries for India and are expected to continue till 2015 An increased inflow of tourists was seen from South Africa , Malaysia and Brazil, and thus the fastest growth in spending was seen by these countries. Over 2010-2015, inbound tourism is expected to increase by CAGR of 6%, whereas tourism receipts are expected to increase by a constant value CAGR of 3%. Source: Euromonitor International, India April 2011 32 www.coxandkings.com
  • India Tourism - Outbound Expenditure & Departures Composition - 2010 (INR bn) (in 000 trips)25,000 700 604 565 MICE 530 600 4%20,000 500 21,902 475 Business 452 19,392 500 28%15,000 17,253 15,414 400 13,842 12,497 Leisure 30010,000 68% 200 5,000 100 - 0 2010 2011E 2012E 2013E 2014E 2015E Departures (in 000 trips) Expenditure ( in INR bn) The recovering economy, improved consumer confidence and attractive deals has led to 13% growth in the number of departures from India in 2010 and is expected to increase at a CAGR of 12% by 2015. In 2010 the most outbound tourists visited Singapore, Malaysia , the United Arab Emirates and Thailand. Apart from these destinations, Egypt, Indonesia and Italy are the emerging outbound destinations. US and Singapore continued to be the top two destinations in terms of outgoing tourist expenditure in 2010, accounting for a combined share of nearly 20% of total outbound expenditure. Source: Euromonitor International, India April 2011 33 www.coxandkings.com
  • India Tourism - Domestic Business v/s Leisure Domestic Tourist Expenditure (in INR billion) (mm trips) 1,200 1,082 Year Value % Value Growth 946 1,000 829 2010 2,056 - 800 730 645 2011E 2,199 7.0 573 600 2012E 2,364 7.5 400 318 243 277 2013E 2,553 8.0 189 214 168 200 2014E 2,771 8.5 - 2015E 3,020 9.0 2010 2011E 2012E 2013E 2014E 2015E Business Leisure The number of trips has increased by 14% in 2010 and is expected to increase by a CAGR of 14% in 2015. In 2010 Andhra Pradesh received the largest share of domestic tourists, followed by Uttar Pradesh and Tamil Nadu. Karnataka was the fastest growing domestic destination in 2010, followed by Tamil Nadu and Bihar. In 2010, domestic tourist expenditure increased by 15% and is expected to continue at a CAGR of 8% Source: Euromonitor International, India April 2011 34 www.coxandkings.com
  • International Tourism - Growth & Forecasts International Tourists Arrivals - 2020 Forecasts World Inbound International Tourists Arrival,2010 Average annual Asia and the Forecasts growth rate Pacific, 2010 2020 1995-2020 22% (million) (%) Europe Africa 47 77 5.5 50% America 190 282 3.8 East Asia & the Pacific 195 397 6.5 America Europe 527 717 3.1 16% Middle East 36 69 6.7 Africa South Asia 11 19 6.2 5% World 1,006 1,561 4.1 Middle East 7% International arrivals are expected to reach nearly 1.6 billion by the year 2020. By 2020 the top three receiving regions will be Europe , East Asia & Pacific and the Americas East Asia & the Pacific, Asia, the Middle East and Africa are forecasted to record growth at rates of over 5% year, compared to the world average of 4.1%. Source: World Tourism Organization (UNWTO) 35 www.coxandkings.com
  • Core Markets Forecasted Arrivals & Departures ( in million)Australia 12.0 10.3 9.6 8.8 T & T industry direct contribution is expected to be AUD 47.6 bn in 2011, rising by 2.7% pa to AUD 10.0 7.8 62.4 bn in 2021 8.0 8.4 6.0 7.7 Inbound visitor arrivals are forecast to increase by 3.1% to reach 6.1 million in 2011 and 8.4 million 6.1 6.9 4.0 by 2020 2.0 Australian resident outbound departures are forecasted to be 7.8 million in 2011 and will reach 10.3 - million in 2020 at an annual average growth of 3.7% Inbound visitor arrivals Outbound DeparturesUnited Kingdom Overseas earnings(GBP bn) 17.0 T & T industry is expected to contribute GBP 36.8 bn (2.4% of total GDP) in 2011 16.8 16.9 Estimated number of visits abroad by UK residents in the three months to March 2011 increased 4 % 16.6 to 13.5 million compared with the previous three months. 16.4 16.2 During the 12 months ending March 2011,overseas earnings increased 4 per cent to GBP 16.9 bn 16.3 16.0 Apr10 - Mar 10 Apr09 - Mar 11United States of America International Visitor Spending(USD bn) T & T industry direct contribution to GDP is expected to be US$ 404.0 bn in 2011, and reach US$ 36.0 570.3 bn in 2021 35.1 With 61 million outbound trips in 2009 , the USA remained the second-largest source market after 34.0 Germany 32.0 International Visitor Spending has increased by 9% from USD 32.3 bn in the period Jan-Mar 2010 32.3 to USD 35.1 bn in the period Jan-Mar 2011 30.0 Jan-Mar 2010Source: WTTC 2011; Office of Travel and Tourism Industries (U.S);World Travel Trends Report 2010-11; Office for National Statistics UK; Tourism Forecasting 2011 (Australia) Jan-Mar 2011 36 www.coxandkings.com
  • Thank You For further details, please contact:Cox & Kings Ltd, Turner Morrison Building, 16 Bank Street, Fort, Mumbai - 400 001 Website: www.coxandkings.com Email: investors@coxandkings.com www.coxandkings.com