travel industry

Growth in Travel and Tourism Industry in India!

How has the growth been exponential in the travel and tourism industry in India!

India offers a diverse range of Niche tourism such as aa medical, wellness, sports, film, rural, MICE, cruises, adventure, eco-tourism, and religious tourism. The market for Travel and Tourism in India is quite vast. People of the country are even are encouraged to take up domestic travel to promote tourism.

According to the Travel  Industry Report which is published by the World Economic Forum India has been ranked 34th in the year 2019 which was in the 40th rank in the year 2018. India is also at the 3rd place in terms of the world’s total contribution to GDP in the year 2018 according to the World Tourism and Travel Council (WTTC). There have been Foreign Exchange Earnings (FEEs) of US$ 16.757 billion during the period January-July 2019 which has also increased by 4.70 % year-on-year in 2018 contributing to a total of US$ 28.59 billion. There has been an increase in the tourists arriving on e-Tourist Visa by about 21 per cent totalling 15,34,293 tourist arrivals from January-July 2019. Expectations of increase in India’s GDP in the year 2028 is of US$ 492.21 billion (INR 32,05,000 crore) similarly International Tourists’ arrival is expected to reach 30.5 billion. The increase in FEEs has also been 7.2 per cent from July 2018-July 2019 contributing to a total of US$ 2.64 billion. A growth of 2.1 % in July 2019 has contributed to a total of 60.84 lakh.

Coming to employment, India has employed about 81.1 million people as of 2017-18 which contributes to 12.38 per cent of total employment in the country. The Government targets 20 million foreign tourist arrivals (FTAs) by 2020 and also a two-fold increase in the foreign exchange earnings as well. This has led to the launching of branding and marketing initiatives by the Government of India such as ‘Incredible India!’ and ‘Atithi Devo Bhava’ which focused on growth. Incredible India 2.0 campaign was launched in 2017 followed by Incredible India Mobile App in 2018 which assists travellers and showcase major experiences. A new category of visa – the medical visa or M visa, has also been launched by the Indian government to encourage medical tourism in the country. India also aims to achieve the mark of one and two per cent share in the world’s international tourist arrivals by 2020 and 2025 respectively.

More projects and attractions are coming up in India to gain the attention of travellers and tourists. One such attraction was Statue of Sardar Vallabhbhai Patel, also known as ‘Statue of Unity’, which was inaugurated as a tourist attraction in October 2018. Standing at a height of 182 meters, this world’s tallest statue is expected to boost the country’s tourism by being highlighted in the world tourism map. Introduction of e-bike tours and an increase in the visiting period by two hours have been the latest amendments to the sight in 2019.

 

Efforts in boosting investments in the travel industry have also been put up by the government which allows a hundred per cent FDI through an automatic route in addition to tax holidays and more. All the hotels of 2, 3- and 4-star category around UNESCO World Heritage sites (Delhi and Mumbai excluded) have been given a five year tax holiday. Between April 2000 and March 2019 a total of US$ 12.35 billion has been received by the Indian hotel & tourism sector as Foreign Direct Investment. There are schemes such as Swadesh Darshan and Prashad scheme and various other ones worth INR 550 crore (US$ 78.70 million) that have been sanctioned to attract investments in this sector. Ministry of Tourism is forming several theme-based tourist circuits under the Swadesh Darshan scheme to promote tourism. A web-based delivery system has also been developed and launched by the tourism ministry to enable the ease of the system of applicants seeking approval for hotel projects which can be tracked on a real-time basis. A scheme of tax refunds for tourists (TRT) has also been introduced under the Union Budget 2019-20, encouraging tourists to spend more similar to that of schemes in other countries such as Singapore.

This vast segment of the Tourism industry has seen changes pretty evidently over time, this must be turned into an opportunity sustainably. Not hampering the resources or security systems of the country in any manner.

 

India offers a diverse range of Niche tourism such as aa medical, wellness, sports, film, rural, MICE, cruises, adventure, eco-tourism, and religious tourism. The market for Travel and Tourism in India is quite vast. People of the country are even are encouraged to take up domestic travel to promote tourism.

According to the Travel & Tourism Competitiveness Report which is published by the World Economic Forum India has been ranked 34th in the year 2019 which was in the 40th rank in the year 2018. India is also at the 3rd place in terms of the world’s total contribution to GDP in the year 2018 according to the World Tourism and Travel Council (WTTC). There have been Foreign Exchange Earnings (FEEs) of US$ 16.757 billion during the period January-July 2019 which has also increased by 4.70 % year-on-year in 2018 contributing to a total of US$ 28.59 billion. There has been an increase in the tourists arriving on e-Tourist Visa by about 21 per cent totalling 15,34,293 tourist arrivals from January-July 2019. Expectations of increase in India’s GDP in the year 2028 is of US$ 492.21 billion (INR 32,05,000 crore) similarly International Tourists’ arrival is expected to reach 30.5 billion. The increase in FEEs has also been 7.2 per cent from July 2018-July 2019 contributing to a total of US$ 2.64 billion. A growth of 2.1 % in July 2019 has contributed to a total of 60.84 lakh.

Coming to employment, India has employed about 81.1 million people as of 2017-18 which contributes to 12.38 per cent of total employment in the country. The Government targets 20 million foreign tourist arrivals (FTAs) by 2020 and also a two-fold increase in the foreign exchange earnings as well. This has led to the launching of branding and marketing initiatives by the Government of India such as ‘Incredible India!’ and ‘Atithi Devo Bhava’ which focused on growth. Incredible India 2.0 campaign was launched in 2017 followed by Incredible India Mobile App in 2018 which assists travellers and showcase major experiences. A new category of visa – the medical visa or M visa, has also been launched by the Indian government to encourage medical tourism in the country. India also aims to achieve the mark of one and two per cent share in the world’s international tourist arrivals by 2020 and 2025 respectively.

More projects and attractions are coming up in India to gain the attention of travellers and tourists. One such attraction was Statue of Sardar Vallabhbhai Patel, also known as ‘Statue of Unity’, which was inaugurated as a tourist attraction in October 2018. Standing at a height of 182 meters, this world’s tallest statue is expected to boost the country’s tourism by being highlighted in the world tourism map. Introduction of e-bike tours and an increase in the visiting period by two hours have been the latest amendments to the sight in 2019.

Efforts in boosting investments in the travel industry have also been put up by the government which allows a hundred per cent FDI through an automatic route in addition to tax holidays and more. All the hotels of 2, 3- and 4-star category around UNESCO World Heritage sites (Delhi and Mumbai excluded) have been given a five year tax holiday. Between April 2000 and March 2019 a total of US$ 12.35 billion has been received by the Indian hotel & tourism sector as Foreign Direct Investment. There are schemes such as Swadesh Darshan and Prashad scheme and various other ones worth INR 550 crore (US$ 78.70 million) that have been sanctioned to attract investments in this sector. Ministry of Tourism is forming several theme-based tourist circuits under the Swadesh Darshan scheme to promote tourism. A web-based delivery system has also been developed and launched by the tourism ministry to enable the ease of the system of applicants seeking approval for hotel projects which can be tracked on a real-time basis. A scheme of tax refunds for tourists (TRT) has also been introduced under the Union Budget 2019-20, encouraging tourists to spend more similar to that of schemes in other countries such as Singapore.

This vast segment of the Travel industry has seen changes pretty evidently over time, this must be turned into an opportunity sustainably. Not hampering the resources or security systems of the country in any manner.

Also, Read

Job Opportunities in Travel Industry | Travel related jobs

 

 

 

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