The travel and tourism industry is an important part of the Indian economy. India’s travel and tourism industry contributed over $231 billion to the country’s GDP in 2023, the eighth-largest in the world.
Let’s see the top 5 interesting facts about the economic impact of the travel and tourism industry in India according to the World Travel & Tourism Council (WTTC).
India’s travel and tourism sector is expected to contribute $256.1 billion to the country’s economy in 2024, making up 10.4% of its GDP.
The industry is estimated to provide employment to 330 million people in 2024. Further, it is expected to create 69.5 million new jobs by 2034.
The tourism sector is expected to grow at a compound annual growth rate (CAGR) of 9.1% over the next decade.
The spending by domestic tourists and international tourists is expected to increase by 10.3% and 16%, respectively, in 2024 as compared to 2019.
In 2023, domestic visitors accounted for 95.2% of the total spending of the travel and tourism industry, while the remaining 4.8% was contributed by international visitors.
The Indian travel and tourism industry is seeing robust growth. With supportive government policies and active citizen engagement, India can become a top tourist destination.
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