Printversion 

MICE-Contact News Archive

India’s is the world’s 7th largest tourism economy in terms of GDP, says WTTC

Apr 04, 2017

India’s Travel & Tourism sector ranks 7th in the world in terms of its total contribution to the country’s GDP, shows a new report by the World Travel & Tourism Council (WTTC).

According to the new data, Travel & Tourism generated INR14.1 trillion (USD208.9 billion) in 2016, which is the world’s 7th largest in terms of absolute size, the sum is equivalent to 9.6% of India’s GDP. Additionally, the sector supported 40.3 million jobs in 2016, which ranks India 2nd in the world in terms of total employment supported by Travel & Tourism. The sector accounts for 9.3% of the country’s total jobs.

India’s Travel & Tourism sector was also the fastest growing amongst the G20 countries, growing by 8.5% in 2016. A further 6.7% growth is forecast for 2017. India’s strong Travel & Tourism figures are predominantly generated by domestic travel, which accounts for 88% of the sector’s contribution to GDP in 2016. Visitor exports, money spent by foreign travellers in India, only represents 12% of tourism revenues and in 2016 totalled INR1.5 trillion (USD22.8bn).

This is 5.4% of the country’s total exports, compared to a global average of 6.6%. Data from the UN World Tourism Organisation (UNWTO) shows that India received only 9 million international arrivals in 2016, placing it 40th in the world, and a tenth of those received by top-ranking France. However, there is a lot of potential for India to grow their visitor exports. Over the past few months India has already starting to address this gap and made significant changes to visa facilitation, which will help to boost international arrivals. WTTC data suggests that visitor exports will grow by 5.4% in 2017.

David Scowsill, President & CEO, WTTC, said: “India is a tremendous Travel & Tourism economy and I am pleased to see the sector GDP is growing. However, we believe that these numbers could be even higher, and that the positive impact of our sector could be more wide-ranging. India has a huge potential to increase its international visitors and, in doing so, it can create more jobs and drive economic growth.

We encourage the Indian government to continue to adopt policies that encourage travellers, such as the new visa regime, enable investment in vital infrastructure, and allow companies to do business. India is a beautiful and diverse tourism destination, with the right policies in place it will no doubt continue to grow towards ranking even higher in terms of its tourism economy.

 

About MICE-Contact:

MICE-Contact is one of the most popular international leading Media and PR Magazine dedicated to the global meeting industry. The weekly "MICE-Business Travel News" is subscribed by more than 93,700 MICE executives, key buyers and journalists around the globe.

MICE-Contact cooperates closely with a number of organisations and we are represented at all major trade fairs around the globe and exclusively cover the newest trend and events. Our readership works and represents the business travel industry and appreciates our first-hand reporting which is editing by professional journalists.
Our press distribution reaches thousands of travel professionals and hundreds of journalists from all over the world.

Submit your press release here

All marketing and PR solutions at a glance

Calendar of Events 2017

 

India’s Travel & Tourism sector ranks 7th in the world in terms of its total contribution to the country’s GDP, shows a new report by the World Travel & Tourism Council (WTTC). According to the new data, Travel & Tourism generated INR14.1 trillion (USD208.9 billion) in 2016, which is the world’s 7th largest in terms of absolute size, the sum is equivalent to 9.6% of India’s GDP. Additionally, the sector supported 40.3 million jobs in 2016, which ranks India 2nd in the world in terms of total employment supported by Travel & Tourism. The sector accounts for 9.3% of the country’s total jobs. India’s Travel & Tourism sector was also the fastest growing amongst the G20 countries, growing by 8.5% in 2016. A further 6.7% growth is forecast for 2017. India’s strong Travel & Tourism figures are predominantly generated by domestic travel, which accounts for 88% of the sector’s contribution to GDP in 2016. Visitor exports, money spent by foreign travellers in India, only represents 12% of tourism revenues and in 2016 totalled INR1.5 trillion (USD22.8bn). This is 5.4% of the country’s total exports, compared to a global average of 6.6%. Data from the UN World Tourism Organisation (UNWTO) shows that India received only 9 million international arrivals in 2016, placing it 40th in the world, and a tenth of those received by top-ranking France. However, there is a lot of potential for India to grow their visitor exports. Over the past few months India has already starting to address this gap and made significant changes to visa facilitation, which will help to boost international arrivals. WTTC data suggests that visitor exports will grow by 5.4% in 2017. David Scowsill, President & CEO, WTTC, said: “India is a tremendous Travel & Tourism economy and I am pleased to see the sector GDP is growing. However, we believe that these numbers could be even higher, and that the positive impact of our sector could be more wide-ranging. India has a huge potential to increase its international visitors and, in doing so, it can create more jobs and drive economic growth. We encourage the Indian government to continue to adopt policies that encourage travellers, such as the new visa regime, enable investment in vital infrastructure, and allow companies to do business. India is a beautiful and diverse tourism destination, with the right policies in place it will no doubt continue to grow towards ranking even higher in terms of its tourism economy.”

Read more at: https://www.wttc.org/media-centre/press-releases/press-releases/2017/indias-is-the-worlds-7th-largest-tourism-economy-in-terms-of-gdp-says-wttc/
Copyright @ WTTC 2017

By: MC Media Group International Global Office Berlin | Editor-in-Chief Werner Kreis

Contact email: info@mice-contact.com