According to a new report released by World Travel and Tourism Council (WTTC), India’s travel and tourism sector ranks 7th in the world in terms of its total contribution to the country’s Gross Domestic Product (GDP).
Important Data about India’s Travel and Tourism Sector revealed by WTTC Report:
- Contribution to GDP: This sector generated Rs 14.1 trillion in 2016 which is equivalent to 6% of India’s GDP. In absolute terms, it is 7th largest in the world.
- Job Creation: 3 million jobs were created in travel and tourism sector of India in 2016.
On account of this remarkable figure, India ranked 2nd in the world in terms of total employment generated. Overall, the sector accounts for 9.3% of total jobs in India. - Composition: As mentioned in WTTC report, the major chunk of total figure came from domestic travel which accounts for 88% of the sector’s contribution to GDP in 2016.Visitor exports i.e. money spent by foreign travellers in India, was only 12% of tourism revenues in 2016, culminating into 5.4% of the country’s total exports. This is lower than global average of 6.6%. Supplementing this information is the data from the UN World Tourism Organisation (UNWTO) which ranked India at 40th position in the world in terms of receiving international travellers. As per UNWTO data, India received only 9 million international arrivals in 2016, which was tenth of that received by top-ranking France.
- Growth Rate: For the year 2016, India’s Travel and Tourism sector registered a growth of 5% – the fastest amongst G20 countries.
On account of this remarkable figure, India ranked 2nd in the world in terms of total employment generated. Overall, the sector accounts for 9.3% of total jobs in India.Ministry of Tourism, Government of India, administers and regulates the tourism industry in India. Mr. Mahesh Sharma is the Tourism Minister of State (Independent Charge)
Road Ahead for India’s Travel and Tourism Sector:
- WTTC has forecasted 7% growth for the sector in 2017. Visitor exports are expected to grow by 5.4%in 2017.
- Over the past few months, Indian Govt. has made significant changes in visa facilitation with a view to encourage international arrivals and thereby increasing visitor exports.
- David Scowsill, President and CEO of WTTC has optimistically mentioned that with right policy initiatives and reforms, Indian tourism economy can attain much higher rankings.
About World Travel and Tourism Council (WTTC):
World Travel and Tourism Council (WTTC) was formed by a group of key people from Travel and Tourism industry. Objective of WTTC is to create awareness about Travel and Tourism sector’s contribution to national economies across the world by using empirical data. Currently, CEOs of over 140 leading travel and tourism companies are members of WTTC.
- Formed in: 1991
- Headquarters: London, United Kingdom
- Chairman: Gerald Lawless
- President & CEO: David Scowsill (President & CEO)