By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Social BuzznessSocial Buzzness
  • News
    News
    Stay informed with the latest news and updates from around the world. Discover credible and reliable sources for breaking news, politics, business, sports, entertainment, and…
    Show More
    Top News
    B747 Jumbo, an especially customized tiger-faced jet was sent to Namibia to bring home eight Cheetahs including five females and three males.
    Specially customized tiger-faced B747 Jumbo Jet to bring 8 cheetah
    September 28, 2022
    Heatwave are often referred to as extreme temperatures because the term has entered the common vernacular over time.
    Heatwave in capital, How people tackling with this Havoc
    October 14, 2022
    Taking on a second job outside of the regular job is known as moonlighting because people usually do it after work or at night.
    Moonlighting not ethical: IBM India’s Patel joins IT industry debate
    September 25, 2022
    Latest News
    EV Startup Zypp Electric raised $25M to hit 30 Indian cities by 2025
    February 11, 2023
    Zoho To Hire 1,000 More Employees In Fy24, Committed To No Layoffs
    February 3, 2023
    Cars24 Plans To Hire Over 500 Employees Across Verticals In The Next Quarter
    February 3, 2023
    Physics Wallah to hire 2500 employees across verticals by March
    February 3, 2023
  • Business
    Business
    Find the best businesses in socialbuzzness with expert reviews and ratings. Browse services, products, and top-rated companies to help you make informed decisions.
    Show More
    Top News
    Entrepreneurs and early investors can realize the full profit from their investment in the market through an Initial Public Offering (IPO).
    What Is an Initial Public Offering (IPO)? How can you invest in one?
    July 23, 2022
    This article will explain what career values ​​are, why they are important, the different career values, and how to identify your own.
    How To Assess Your Career Values
    December 26, 2022
    Investing in Indian startups has surged in recent years, rising to more than $36 billion in 2021, according to figures.
    Top Indian Startups To Watch in 2022
    October 12, 2022
    Latest News
    How To Reach Out To A Recruiter On Linkedin
    March 27, 2023
    How to Choose the Right Accounting Software for Your Business?
    February 28, 2023
    Challenges of Small And Medium Enterprises at the Start of Trade
    February 28, 2023
    Best Home Rental Sites in India
    February 24, 2023
  • Technology
    Technology
    Stay ahead of the technology curve with the latest news and reviews. Explore the latest gadgets, software, and services, and find expert advice on how…
    Show More
    Top News
    Cyberbullying can be very dangerous as it is related to online platforms which are sometimes fails to detect criminals.
    What is cyberbullying? State some laws against it
    October 25, 2022
    The 5G network is the next generation of global mobile network technology after the 1G, 2G, 3G, and 4G technologies.
    Advent of 5G Technology in India
    January 27, 2023
    A number of multinational companies, including Intel and AMD, were incorporated in Valley in the USA and developed production facilities.
    Processing of Intel and AMD: Chipset Technology
    October 25, 2022
    Latest News
    How Cloud-Based Radiology Solutions Help Improve Workflows
    March 24, 2023
    Rapid Technological Development Revolutionized Marketing
    February 26, 2023
    Top 6 Instagram Features That We Are Using Everyday
    January 13, 2023
    How Can You Boost Your Business Using The Technology? 
    December 2, 2022
  • Finance
    Finance
    Stay on top of your finances with expert advice and resources. Find the best financial products, services, and companies to help you manage your money,…
    Show More
    Top News
    Let's clear the term “Private equity Investments” word by word. Equity refers to ownership of assets or stakes in a company.
    Private Equity Investments: Pros and Cons
    October 14, 2022
    A payment gateway is a facility provided by eCommerce that enables credit or debit card payments for offline stores as well as online stores.
    What are the leading 10 Payment Gateways in India for E-Commerce Business?
    January 3, 2023
    A good credit score shows that you're a reliable and responsible borrower who hasn't taken on more debt than they can manage.
    What’s A Good Credit Score For Easy Loan Approval?
    March 24, 2022
    Latest News
    Enhancing Employee Performance Through Monetary Incentives
    March 10, 2023
    The Reverse Mortgage System in India
    March 9, 2023
    How Loan Management Software Can Streamline Your Lending Process
    March 9, 2023
    Where To Do Investments For Tax Planning
    February 26, 2023
  • Success Stories
    Success Stories
    Find inspiration and guidance for achieving your goals with real-life success stories. Learn from individuals who have overcome challenges and accomplished their dreams, and discover…
    Show More
    Top News
    Many budding entrepreneurs are inspired by the success tales of these innovative entrepreneurs. Let us have a look at it.
    Top Indian Entrepreneurs Success Stories that will inspire you
    October 15, 2022
    Unacademy is the first app that is a full-package solution for learning from the convenience of your phone. It is not a collection of videos.
    An Online Learning Platform Became India’s #1 Education Portal: Unacademy Success Story
    January 28, 2023
    OYO hotel is a great one. It is all about service and the idea that you are never too far from excellent service and food.
    OYO Hotel Rooms Founder and CEO Ritesh Agarwal – Inspiring Success Story
    January 28, 2023
    Latest News
    Success Story of Bill Gates, Microsoft co-founder
    October 13, 2022
    Top Indian Entrepreneurs Success Stories that will inspire you
    October 15, 2022
    Apollo Tyres unveils tyres for premium bikes
    October 10, 2022
    How Practo Became the Largest Health tech Company in India – Success Story
    October 30, 2022
  • Explore By
    • Knowledge Corner
    • Education
    • Lifestyle
    • Travel
    • Entertainment
    • Health
Reading: Growth of the Tourism Industry In India
Share
Notification
Latest News
Which one of the two would you prefer, self-improvement or personal development? Read the full article to know more about it.
Personal Development vs. Self-Improvement. Which is better?
Lifestyle
Cloud-based radiology solutions aid healthcare institutions in streamlining processes & lowering costs by providing a consolidated platform.
How Cloud-Based Radiology Solutions Help Improve Workflows
Technology
Getting married is an exciting yet stressful process. Here are some tips on how to choose the best wedding photographer.
How To Choose The Best Wedding Photographer
Lifestyle
LinkedIn is commonly used to network with linkedin recruiter in your desired industry. These tips can assist in building connections for job
How To Reach Out To A Recruiter On Linkedin
Business
Monetary Incentives play an essential role in employee performance. Let us read about the impact of it through this article.
Enhancing Employee Performance Through Monetary Incentives
Finance
Aa
Social BuzznessSocial Buzzness
Aa
  • Business
  • Entertainment
  • Technology
Search
  • Home
  • News
  • Business
  • Finance
  • Technology
  • Explore By
    • Education
    • Success Stories
    • Entertainment
    • Health
    • Lifestyle
    • Travel
  • Quick Links
    • Bookmarks
    • Contact
    • Write for us
Follow US
  • Advertise
Copyright © 2022 Socialbuzzness. All Rights Reserved - HRI Consultants.
Social Buzzness > Travel > Growth of the Tourism Industry In India
Travel

Growth of the Tourism Industry In India

Social Buzzness
Last updated: 2023/02/18 at 4:00 AM
Social Buzzness
Share
7 Min Read
India's tourism and hospitality industry has merged as one of the country's most crucial development engines in the services sector.
SHARE

India’s tourism and hospitality industry has emerged as one of the country’s most crucial development engines in the services sector. Given the country’s rich cultural and historical legacy and the diversity of ecology, terrains, and natural beauty spots, tourism in India has considerable potential. Like in many other countries, in India, tourism is a significant source of foreign exchange. From 2016 to 2019, foreign exchange earnings climbed at a CAGR of 7%; however, because of the COVID-19 pandemic, earnings fell in 2020.

Contents
What is the Situation in the Industry?Expansion of India’s Foreign Tourist IndustryVISA facility for E-TouristsConstruction of InfrastructureMedical tourism is a growing trendInvestmentsGovernment InitiativeAchievementsGet on the road

In FY20, India’s tourism sector employed 39 million people, accounting for 8.0 percent of the country’s overall workforce. It is estimated to employ almost 53 million people by 2029.

According to the World Travel and Tourism Council, India placed 10th out of 185 nations in total contribution to GDP from travel and tourisms in 2019. In 2019, travel and tourism contributed 6.8% of the entire economy’s GDP or Rs. 13,68,100 crore (US$ 194.30 billion).

What is the Situation in the Industry?

It is predicted that contributions to India’s GDP will be $512 billion by 2028 and 53 million employment by 2028.

The travel and tourism industry contributed US$ 121.9 billion to GDP in 2020. Between 2019 and 2028, India’s industry’s direct contribution to GDP is predicted to expand at a pace of 10.35 percent per year.

India’s tourism and hospitality industry will earn $50.9 billion in tourist exports by 2028, up from $28.9 billion in 2018. By 2028, international visitor arrivals are predicted to exceed 30.5 million.

From an estimated US$ 75 billion in FY20, India’s travel market is expected to grow to US$ 125 billion by FY27. In FY20, India’s tourism sector employed 39 million people, accounting for 8.0 percent of the country’s overall workforce. Between April 2000 and June 2021, the hotel and tourist sector received a total of US$ 15.89 billion in FDI.

Expansion of India’s Foreign Tourist Industry

VISA facility for E-Tourists

E-visas are now available in 171 countries and are divided into five categories:

  • E-Tourist visas
  • E-Business visas
  • E-Medical Visas
  • E-Medical Attendant Visas
  • E-Conference Visas

Construction of Infrastructure

Developing destinations, circuits, megaprojects, and rural tourism infrastructure projects receive more than half of the Ministry of Tourism’s budget.

Medical tourism is a growing trend

Treatment at a low cost, a high-quality healthcare infrastructure, and highly qualified doctors also play a significant role.

Investments

In 2018, India ranked third in the world in terms of travel and tourism investment, with a total inflow of US$ 45.7 billion, accounting for 5.9% of the country’s overall investment.

Between April 2000 and June 2021, the hotel and tourist sector received a total of US$ 15.89 billion in FDI.

According to the Indian government, by 2030-31, India will have a market of 1.2 million cruise travellers. In the next 3-5 years, Dream Hotel Group expects to invest roughly $300 million in developing India’s cruise industry.

Government Initiative

India’s Ministry of Tourism signed a Memorandum of Understanding (MoU) with the Indian Railway Catering and Tourism Corporation to strengthen the hospitality and tourism industry. The ministry has also signed an MoU with EaseMyTrip, Cleartrip, Yatra.com, Make My Trip, and Goibibo. The Ministry of Tourism has drafted a proposal titled ‘National Strategy and Roadmap for Medical and Wellness Tourism.’ Seventy-one lighthouses have been identified for development as tourist spots. Seven hundred twenty-five homestay owners from Darjeeling, Kalimpong, and Dooars were trained in marketing, sales, and behavioural skills.

The Indian Railway Catering and Tourism Corporation (IRCTC) runs a series of Bharat Darshan tourist trains to take people on various pilgrimages across the country. The Ministry of Tourism developed an initiative called SAATHI (System for Assessment, Awareness & Training for Hospitality Industry) by partnering with the Quality Council of India.

Achievements

The following are the government’s accomplishments in 2019-20:

  • Under the Swadesh Darshan scheme, an additional budget of Rs. 1,854.67 crores (US$ 269.22 million) has been sanctioned for new projects in 2019-20.
  • Under the Swadesh Darshan and PRASHAD programs, the Ministry of Tourism sanctioned 18 projects totalling Rs. 1,456 crores (US$ 211.35 million) to enhance and promote regional tourism.
  • The ‘State of Unity’ statue, popularly known as Sardar Vallabhbhai Patel, was unveiled in October 2018, and the total revenue generated through November 2019 was Rs. 82.51 crores (US$ 11.81 million).

Get on the road

Staycations are an emerging trend in which individuals stay at opulent hotels to de-stress in a relaxing environment. Major hotel chains such as Marriott International, IHG Hotels & Resorts, and Oberoi Hotels are launching staycation deals that allow visitors to choose from various personalized experiences within the hotel to meet these needs.

The travel and tourism business in India has enormous growth potential. The tourism industry is also anticipating the expansion of the e-Visa scheme, which is estimated to treble the number of visitors to India. According to a joint study undertaken by Assocham and Yes Bank, India’s travel and tourism business have the potential to grow by 2.5 percent as a result of increased budgetary allocation and low-cost healthcare.

On Socialbuzzness, features articles on and about technology, business, lifestyle, and health. Socialbuzzness covers all kinds of news, including entertainment, technology,
business, and finance.

You Might Also Like

Best Places to Live in Dubai with Family

Best Travel Blogs in India to Read before a Trip

Seven Best Places to Travel as a College Student

Top 12 Low-Budget Travel For Youngsters

The 6 Amazing Changing Trends in the Global Tourism Industry

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Social Buzzness October 31, 2022
Share this Article
Facebook Whatsapp Whatsapp Telegram Copy Link Print
By Social Buzzness
Follow:
Socialbuzzness is a website which covers all kinds of news like entertainment, technology, business, finance and many more. We give you the latest news with understandable language. Having a good lifestyle is necessary to be successful after reading our lifestyle articles you surely will be motivated.
Previous Article Investment decision always require some basic knowledge for you to enter into an unexpected market. Read the article to know. Things to Consider Before Making Any Investment Decision
Next Article If your anxiety is related to your job, you may be suffering from workplace anxiety, sometimes referred to as work stress. What are the Ways to Guide to Managing Workplace Anxiety
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
11.6k Followers Pin
56.4k Followers Follow
- Advertisement -
Ad imageAd image

Latest News

Which one of the two would you prefer, self-improvement or personal development? Read the full article to know more about it.
Personal Development vs. Self-Improvement. Which is better?
Lifestyle March 27, 2023
Cloud-based radiology solutions aid healthcare institutions in streamlining processes & lowering costs by providing a consolidated platform.
How Cloud-Based Radiology Solutions Help Improve Workflows
Technology March 24, 2023
Getting married is an exciting yet stressful process. Here are some tips on how to choose the best wedding photographer.
How To Choose The Best Wedding Photographer
Lifestyle March 17, 2023
LinkedIn is commonly used to network with linkedin recruiter in your desired industry. These tips can assist in building connections for job
How To Reach Out To A Recruiter On Linkedin
Business March 10, 2023

Welcome to the Social Buzzness. This is a website where you will find blogs related to technology, business, news, lifestyle, health and many more. It is obsessed with providing fresh content to all the readers with realism and multiple fact-checking.

Quick Link

  • Home
  • About us
  • My Bookmarks
  • Write for us
  • Contact

Top Picks

  • News
  • Business
  • Finance
  • Technology
  • Success Stories

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Follow US

Copyright © 2022 Socialbuzzness. All Rights Reserved - HRI Consultants.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?