Travel and tourism in India expected to add $200 billion in economy

Saturday, June 24, 2023

This year, the travel and tourism segment of India is expected to add $200 billion into the economy of the country, which is only 3.5 percent lower than 2019, as per the WTTC. The segment is also predictable to generate more than 1.6 million extra jobs this year as well, almost returning the service levels which got lost during the pandemic to reach practically 39 million.

India’s expenditure by local visitors developed 86 percent last year reaching over $150 billion, which is
only 1 percent behind the standards before the pandemic. The segment’s gross domestic product
(GDP) input amplified by almost 90 percent to exceed $190 billion, accounting for nearly 6 percent of the
economy, which is closer to its ultimate of 7 percent input to the economy in 2019.

Travel and tourism’s flexibility, rising at double the degree of GDP not only in India but across all G20
countries, was emphasized by the President and the CEO of the WTTC, Julia Simpson.

In 2022, the largest source markets for incoming tourism in India comprised Bangladesh, U.S., UK, Sri
Lanka and France. Regarding the most prevalent Indian destinations centered on global entrances, Simpson named Delhi, Mumbai, Goa, Kolkata and Ahmedabad.

In a constructive view, WTTC’s study specifies that this development presents noteworthy job prospects,
mainly for young folks, with around one in 13 employees in India working in the travel and tourism
segment.

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