Published on : Tuesday, April 4, 2017
The travel & tourism sector of India ranks seventh in the world in terms of its total contribution to the country’s GDP, as per a new report by the WTTC. According to the report, Travel & Tourism generated INR14.1 trillion (USD208.9 billion) in 2016, which is the world’s seventh largest in terms of absolute size, the sum is equivalent to 9.6% of India’s GDP.
The sector also generated 40.3 million jobs in 2016, which ranks India second in the world in terms of total employment supported by Travel & Tourism. Travel & tourism 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.
Domestic travel constitutes India’s prime areas, which accounts for 88% of the sector’s contribution to GDP in 2016. Visitor exports, money spent by foreign travelers in India, only represents 12% of tourism revenues and in 2016 totaled INR1.5 trillion (USD22.8bn).
UNWTO data 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. According to David Scowsill, President & CEO, WTTC, “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. “