What is tourism industry in India?

$460 bn contribution to India’s GDP by 2028 Travel and Tourism was the largest service industry in India was worth $234 bn in 2018. According to The World Travel and Tourism Council (WTTC), tourism generated $194 bn or 6.8% of India’s GDP in 2019 and supported 39.80 Mn jobs which is 8 % of its total employment.

What is the future of tourism industry in India?

In India, the industry’s direct contribution to the GDP is expected to record an annual growth rate of 10.35% between 2019 and 2028. In 2020, the Indian tourism sector accounted for 31.8 million jobs, which was 7.3% of the total employment in the country. By 2029, it is expected to account for about 53 million jobs.

How big is the tourism industry in India?

Tourism in India is important for the country’s economy and is growing rapidly. The World Travel and Tourism Council calculated that tourism generated ₹16.91 lakh crore (US$240 billion) or 9.2% of India’s GDP in 2018 and supported 42.673 million jobs, 8.1% of its total employment.

Is tourism a large industry in India?

Travel and tourism is one of the largest industries in India, with a total contribution of over 247 billion U.S. dollars to the country’s GDP and estimated to double in the coming years.

What are the drivers of tourism in India?

Below are the drivers of the tourism and hospitality industry: Tourism and hospitality industry is one of the 25 sectors under the governments make in India initiative Improving infrastructure, liberalisation of air transport and government encouragement of private-public partnerships (PPP) will be the key growth drivers for the industry

How is tourism and hospitality industry in India?

Introduction. The Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India. Tourism in India has significant potential considering the rich cultural and historical heritage, variety in ecology, terrains and places of natural beauty spread across the country.

What is the budget for tourism in India?

In Union Budget 2020-21, the Government has allotted Rs. 1,200 crore (US$ 171.70 million) for the development of tourist circuits under Swadesh Darshan for Northeast. The Ministry of Tourism launched the NIDHI portal to understand the geographical spread of the hospitality sector, its size, structure and existing capacity in the country.

Where does the tourism industry rank in the world?

Now India has moved up by another 6 positions and ranked at 34 th position in 2019. Tourism tends to encourage the development of multiple-use infrastructure including hotels, resorts & restaurants, transport infrastructure (aviation, roads, shipping & railways) and healthcare facilities.