Travel and Tourism Industry Going to Create 19.4M Jobs in India: WTTC

Wednesday, February 21, 2024

At HVS ANAROCK HOPE 2024 in Goa, leaders including WTTC‘s Liz Ortiguera discussed sustainable growth in hospitality, eyeing a bright future.

The HVS ANAROCK HOPE 2024 Summit in Goa marked a significant milestone in the hospitality industry, bringing together over 500 leaders from across the sector to deliberate on emerging trends, insights, and opportunities. This prestigious event witnessed the participation of Liz Ortiguera, the Managing Director for Asia-Pacific at the World Travel & Tourism Council (WTTC), alongside top executives from renowned hospitality brands such as Radisson, Indian Hotel Company Limited (Taj Group), Hilton, Marriott International, and Oberoi Hotels & Resorts.

A focal point of the summit was the emphasis on responsible luxury practices within the hospitality sector. This theme resonated with the attendees, highlighting the industry’s commitment to sustainable growth and environmental stewardship. The discussions were enriched by insights from leaders who are at the forefront of integrating sustainability into luxury experiences, showcasing innovative approaches to responsible hospitality.

Liz Ortiguera shared the WTTC’s Economic Impact forecast, which paints a promising future for India’s travel and tourism sector. According to the forecast, India’s Travel and Tourism GDP is set to experience robust growth, with a Compound Annual Growth Rate (CAGR) of 8.4% over the next decade. This growth is not just significant in terms of economic contribution but also in its potential to create employment opportunities across the country. The forecast estimates the creation of 19.4 million jobs, underscoring the sector’s critical role in India’s economic development.

The summit served as an excellent platform for WTTC members and colleagues from the India Initiative to engage in meaningful discussions on how to drive sustainable growth in the travel and tourism sector. It provided an opportunity for stakeholders to share best practices, challenges, and solutions, fostering a collaborative approach to addressing the needs of the rapidly evolving hospitality landscape.

The participation of Liz Ortiguera and other industry leaders at the HVS ANAROCK HOPE 2024 Summit underscores the importance of collective efforts in shaping the future of the hospitality sector. It highlights the industry’s dedication to responsible luxury practices and sustainable growth, setting the stage for a future where the travel and tourism sector continues to thrive while contributing positively to society and the environment.

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