More Indians are taking personal loans to travel and meet vacation-related expenses, according to Madhavan Menon, executive chairman of Thomas Cook India.  “The average Indian traveler is now more willing to spend rather than save. They want to indulge in new experiences such as motorcycle rides from Leh to Ladakh, glamping, and trekking,” Menon told Skift’s Asia Editor Peden Doma Bhutia in the latest episode of the Skift India Travel Podcast. In fact, a study by online loan platform Paisabazaar revealed that as many as 21% of consumers took a personal loan for vacation in the first half of the year — with 81% for domestic travel and 19% for foreign travel in the first quarter of financial year 2023. Menon also pointed out the emergence of the Indian traveler who would rather go on several short vacations and weekend getaways instead of one long holiday. To capitalize on the growing demand for these trips, Thomas Cook in July launched “India’s Incredible Short Breaks,” which is emerging from not just India’s metros and mini metros but also tier 2 and tier 3 cities.