Tourism Revenues in India averaged 101558.64 INR Million from 2008 until 2020, reaching an all time high of 226170 INR Million in December of 2019 and a record low of 31530 INR Million in May of 2008. Tourism and COVID-19 – unprecedented economic impacts. Report Mar 05, 2021. Market Size Travel and tourism industry contributed a tenth of India’s GDP in 2018 and accounts for 42 million jobs in the country, report says. In India, over Rs 16 trillion were created by this sector alone. It is the third-largest export category (after fuels and chemicals) and in 2019 accounted for 7% of global trade. Tourism is one of the world’s major economic sectors. Tourism Research Australia’s strategic research and analysis program focuses on delivering measures of the structure and performance of the Australian tourism industry. The World Travel & Tourism Council (WTTC) was formed in 1991 by a group of Travel & Tourism CEOs who felt that the sector's contribution to economies and job creation was not being recognised. The economy of India is characterised as a middle income developing market economy. GDP (current US$) - India. 1960 - 2019. For some countries, it can represent over 20% of their GDP and, overall, it is the third largest export sector of the global economy. This study investigates relationship between tourism and economic growth in India by considering the relative importance of financial development over the period of 1960–2014. Union Minister of State for Culture and Tourism, Prahlad Singh Patel on Tuesday, while inaugurating the the-three-day Incredible India Mega Homestay Development and Training Workshop, said that an Atmanirbhar tourist-based economy will bring forth many employment opportunities to the youth of the Eastern Himalayan part of West Bengal. This page provides - India Tourism Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news. Although some of this is due to an international slowdown in tourism in the aftermath of the economic crisis of 2008, which meant India actually received 2.2% fewer tourists in … Its objectives were to use empirical evidence to promote awareness of Travel & Tourism's economic contribution; to expand markets in harmony with the environment; and to reduce barriers to growth. Read Now. India ranked 34 inside the journey & tourism competitiveness document 2019 posted by the world economic forum. Tourism plays a significant part in Australia’s economy, contributing to both GDP and employment. Read Now. License: CC BY-4.0 Line Bar Map. The travel and tourism industry contributed a total of $124.8 billion to GDP in India in 2015 — this accounted for approximately 6% of India's total GDP. Tourism is one of the fastest growing service industry in the country with great potentials for its further expansion and diversification. The hospitality and tourism industry has been witnessing a healthy growth number and accounted for 7.5% of the GDP. Incredible India 2.0: India’s $20 Bn Tourism Opportunity. Read Now. License : CC BY-4.0 Also Show. Travel & tourism direct economic impact in South Korea 2012-2028; Distribution of direct travel and tourism GDP in Latin America 2013-2017, by type Tourism in India has a strong relevance to economic development, cultural growth and national integration. Travel & Tourism Economic Impact 2018: India. NEW DELHI: India’s travel and tourism sector ranks 7th in the world in terms of its total contribution to the country’s GDP, according to a new report of the World Travel and Tourism Council . During 2019, contribution of travel & tourism to GDP was 6.8% of the total economy, ~ Rs. As per the Indian government report, travel and tourism is the largest service industry in India. The Tourism sector of Indian economy is at present experiencing a huge growth. Read Now. The tourism sector currently provides through direct and indirect jobs 12.95% of all jobs in India and given the growing interest in experiential tourism there exist immense economic opportunities for the local communities, especially for women entrepreneurs. Tourism direct GDP corresponds to the part of GDP generated by all industries directly in contact with visitors. The United States is the largest source of international tourists to India, while European Union nations and Japan are other major sources of international tourists. Scheme Mar 05, … The Tourism sector of Indian economy has become one of the major industrial sectors under the Indian economy. Read More. According to WTTC, India ranked 10th among 185 countries in terms of travel & tourism’s total contribution to GDP in 2019. In WTTC’s Economic Impact 2019 report, India’s Travel & Tourism GDP contribution grew by 4.9%, which was the third highest after China and Philippines. The tourism industry earns foreign exchanges worth ` 21,828 crore. Report Sep 12, 2017. In WTTC’s financial impact 2019 statement, India’s travel & tourism GDP contribution grew by 4.9%, which was the third-highest after China and the Philippines. India tourism statistics for 2015 was 21,472,000,000.00 , a 3.45% increase … World Bank national accounts data, and OECD National Accounts data files. Project Sep 15, 2017. The contribution of tourism to the GDP of Gujarat was estimated to be around 10.2 percent of the state's total gross domestic product in the year 2022, up from about five percent in 2015. Higher growth in tourism and hospitality sector that accounts for nearly a tenth of India’s GDP and more than 8% of total employment can appreciably help the economy’s turnaround bid. Adopt A Heritage. Tourism industry plays a major role in any country’s economic development. India Budget 2020: Tax and Sector Highlights. ... International tourism to India has seen a steady growth from 2.37 million arrivals in 1997 to 8.03 million arrivals in 2015. Tourism in India accounts for 6.8% of the GDP and ranks 42nd in the United Nations World Tourism Organization rankings, the third largest foreign exchange earner for the country with 16th most visited country in the world, with a share of 1.56% in the world’s tourism receipts. 13,68,100 crore (US$ 194.30 billion). It has tremendous opportunity in generating employment and can have a more significant impact on the GDP. India's economic outlook, the maturity of its out-of-region travellers, and ensuing opportunities for Australia, have changed since the development of Tourism Australia's India Strategic Tourism Plan in 2012. International tourism, number of arrivals - India World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files. As mentioned earlier, India is a vast country of great beauty and diversity and her tourist potential is equally vast. Additionally, the report also highlights that between 2014-2019, India witnessed the strongest growth in the number of jobs created (6.36 million), followed by China (5.47 million) and the Philippines (2.53 million). A 2014 study found that India was one of the fastest-growing tourism destinations worldwide. Event Mar 05, 2021. The tourism opportunities in India can grow multifold with the resumption of international travel. This indicator is measured as a percentage of total GDP or a percentage of GVA. Still, it is the first expansion in three quarters as the government opened economic activities in phases from June after a coronavirus lockdown in late-March. On the other hand, South Korea is impacted the least: just 2.8% of its GDP is reliant on tourism. It is about 5 per cent in Nepal. Within government and across industry, there are gaps in the understanding of trends unique to India. The economy of India grew 0.4% year-on-year in the last three months of 2020, slightly below market forecasts of a 0.5% gain. India tourism statistics for 2016 was 23,111,000,000.00, a 7.63% increase from 2015. On the expenditure side, both private (1% vs -8.3% in Q3) and public (7.2% vs -17.5%) spending rebounded. India offers geographical diversity, attractive beaches, 30 World Heritage Sites and 25 bio-geographic zones. Though the average duration of stay by foreign tourists in India (22.7 days) is significantly high, there is scope for further increase in view of the availability of a variety of tourism products, culture, cuisine, etc to offer the tourists by India. Label. Which countries earn the most from the travel and tourism industry in absolute dollar terms? According to the WTTC, the share of the travel and tourism sector in India’s GDP is about 10 per cent. Topping the list was the U.S., with tourism contributing over $1.8 trillion to its economy, or 8.6% of its GDP in 2019. India, known for its ancient tradition of 'Atithi Devo Bhava' or ‘guest is god’ has been a gracious host for ages. Travel, Interrupted. None; Aggregates; Same region; Similar values; Highest values; Lowest values; Share Details. Previous year the growth rate of the tourism sector of Indian economy was recorded as 17.3% . Alongside our Insights reports, WTTC produces reports on the economic and employment impact of Travel & Tourism for 185 countries and 25 geographic or economic regions in the world. Developing country like India tourism has become one of the major sectors of the economy, contributing to a large proportion to GDP and employment opportunities. SATTE 2020 - South Asia's Leading Travel Show, 8- 10 January 2020 . …