India’s is the world’s 7th largest tourism economy in terms of GDP, says WTTC

Published on : Tuesday, April 4, 2017

downloadIndia’s Travel & Tourism sector ranks 7th in the world in terms of its total contribution to the country’s GDP, shows a new report by the World Travel & Tourism Council .According to the new data, Travel & Tourism generated INR14.1 trillion  in 2016, which is the world’s 7th largest in terms of absolute size, the sum is equivalent to 9.6% of India’s GDP.

 

Additionally, the sector supported 40.3 million jobs in 2016, which ranks India 2nd in the world in terms of total employment supported by Travel & Tourism. The sector accounts for 9.3% of the country’s total jobs.India’s Travel & Tourism sector was also the fastest growing amongst the G20 countries, growing by 8.5% in 2016. A further 6.7% growth is forecast for 2017.

 

India’s strong Travel & Tourism figures are predominantly generated by domestic travel, which accounts for 88% of the sector’s contribution to GDP in 2016.Visitor exports, money spent by foreign travellers in India, only represents 12% of tourism revenues and in 2016 totalled INR1.5 trillion . This is 5.4% of the country’s total exports, compared to a global average of 6.6%. Data from the UN World Tourism Organisation shows that India received only 9 million international arrivals in 2016, placing it 40th in the world, and a tenth of those received by top-ranking France.

 

However, there is a lot of potential for India to grow their visitor exports. Over the past few months India has already starting to address this gap and made significant changes to visa facilitation, which will help to boost international arrivals. WTTC data suggests that visitor exports will grow by 5.4% in 2017.

 

David Scowsill, President & CEO, WTTC, said: “India is a tremendous Travel & Tourism economy and I am pleased to see the sector GDP is growing. However, we believe that these numbers could be even higher, and that the positive impact of our sector could be more wide-ranging. India has a huge potential to increase its international visitors and, in doing so, it can create more jobs and drive economic growth.

 

We encourage the Indian government to continue to adopt policies that encourage travellers, such as the new visa regime, enable investment in vital infrastructure, and allow companies to do business. India is a beautiful and diverse tourism destination, with the right policies in place it will no doubt continue to grow towards ranking even higher in terms of its tourism economy.”

 

 

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 WTM London 2018
  • 03 imexamerica 2018
  • 08 theleisureshow 18
  • 09 cibtm 2018
  • 09 Seatrade Cruise Med 2018
  • 10 Astana leisure 2018
  • 10 ITE-HCMC 2018
  • 11 lodgingconference 18
  • 11 ttgincontri 2018
  • 13 aite 2018
  • 14 CITIE 2018
  • 14 SATTE 2019
  • 14 traveltechme 2018
  • 15 TravelDaily TDC 18
  • 16 OTDYKH 2018
  • 17 Hotel Show dubai 18
  • 18 hospitalityqatar 18
  • 18 Hotel Management Asia Summit 2018
  • 18 thincindonesia 2018
  • 19 bricsaconsulting 2018
  • 20 CITE_TTW 2018
  • 20 europecongress 18
  • 20 sahicsouthamerica 2018
  • 21 bitmchina 2018
  • 22 Hotel Management Singapore Summit 18
  • 23 PTM 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com