Tourexpi
The
data shows that whilst domestic tourism is driving the recovery of the sector
in India, international travel spend remains below pre-pandemic levels.
According
to the global tourism body’s latest research, the sector’s contribution to
India’s GDP reached just over INR 19.13TN in 2023 – almost 10% ahead of 2019
levels.
Employment
in Travel & Tourism grew by 10% to reach just under 43MN, 8% more than in
2019.
Domestic
visitor spending was 15% ahead of 2019, reaching INR 14.64TN however
international visitor spending remained more than 14% behind 2019 last year –
INR 0.4TN less being spent by international visitors last year than in 2019.
Such
strong growth in domestic visitor spending is evidence that domestic visitors
have led the sector’s path toward post-pandemic recovery.
Julia
Simpson, WTTC President & CEO, said; "India's Travel & Tourism
sector is bouncing back with remarkable vigour, driven by a surge in domestic
tourism.
“While
international visitor spending is still catching up, the unwavering support
from local travellers showcases the resilience and potential of this dynamic
sector. With continued strategic efforts, India is set to shine as a global
tourism powerhouse.
“The
Indian Government’s ambition to facilitate 100MN inbound tourists at the
anniversary of India’s independence in 2047, as part of the @2047 ambition,
will supercharge the Indian economy and make India one of the world’s most
popular travel destinations.”
What
Does This Year Look Like?
Across
all four metrics, the sector is forecast to be ahead of 2019 by the end of this
year.
WTTC
projects that Travel & Tourism will contribute almost INR 21.15 TN to the
Indian economy in 2024, an increase of 21% from 2019. Jobs are predicted to
increase by 2.45MN this year, equivalent to one in 11 jobs in India.
International
visitor spending is expected to grow more than 17%, to reach INR 2.85TN, while
domestic visitor spending is projected to continue growing this year, with a
9.6% increase to reach more than INR 16TN.
What
Does the Next Decade Look Like?
With
the right government support, WTTC is forecasting that the sector could grow
its annual GDP contribution to INR 43.25TN by 2034, representing 7.6% of the
Indian economy, and could potentially employ almost 63MN people across the
country.
The
Indian Government’s ambition to facilitate 100MN inbound tourists at the 100th
anniversary of India’s independence in 2047, as part of the @2047 vision, will
supercharge the Indian economy and make India one of the world’s most popular
travel destinations.
What
Does the Region Look Like?
WTTC
forecasts that across South Asia, Travel & Tourism will contribute INR
25.1TN this year, with jobs supported by the sector reaching 54.77MN by the end
of 2024. Domestic visitor spending is expected to reach INR 18.3TN this year
whilst international visitor spending is anticipated to reach INR 3.8TN.
For
more information, please visit wttc.org
See
all the data in our India Travel
& Tourism Economic Impact Report on the WTTC Research Hub.
Image
Credit: © AA
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