Indian Tourism Industry


Indian Tourism Industry INDIAN TOURISM INDUSTRY AT A GLANCE IN 2013 - 2014Indian Tourism Industry

The travel and tourism industry has emerged as one of the fastest growing sectors contributing significantly to the Indian economic growth and development. India has significant potential to become a preferred tourist destination globally. Its rich and diverse cultural heritage, abundant natural resources and biodiversity provides numerous tourist attractions. The total tourist visits in India have been growing at a steady rate of about 16 per cent over the past five years. According to a travel report, India ranks 11th in the Asia pacific region and 65th on travel and tourism Competitiveness Index.

The Indian hospitality sector has been growing at an annual rate of 14 per cent every year adding significant amount of foreign exchange to the economy. Travel and tourism's contribution to capital investment is estimated to grow at 6.5 per cent per annum during 2013-2023, above the global average of five per cent. The total market size of tourism and hospitality industry in India stood at US$ 117.7 billion and is anticipated to touch US$ 418.9 billion by 2022.

Indian Tourism in 2013-2014
Foreign tourist arrivals (FTA) during the period January-December 2013 stood at 68.48 lakh as compared to FTAs of 65.78 lakh during 2012, registering a growth of 4.1 per cent. FTAs during December 2013 were 8.00 lakh as compared to 7.53 lakh during December 2012, growth of 6.3 per cent. Foreign exchange earnings (FEE) during January-December 2013 stood at US$ 18.133 billion as compared to FEEs of US$ 17.737 billion during 2012, registering a growth of 2.2 per cent.

FEEs during December 2013 were US$ 1.886 billion. The number of tourists availing of the tourist Visa on Arrival (VOA) Scheme during January-December 2013 have recorded a growth of 26.2 percent. During the period, a total number of 20,294 VOAs have been issued as compared to 16,084 VOAs during the corresponding period of 2012. The foreign direct investment (FDI) inflows in hotel and tourism sector during April 2000 to November 2013 stood at US$ 6,825.56 million, as per the data released by Department of Industrial Policy and Promotion (DIPP). India is one of the fastest growing medical tourism destination. Indian medical tourism industry is anticipated to register a compound annual growth rate (CAGR) of more than 20 per cent during 2013-2015. The Government of India has allowed 100 per cent FDI under the automatic route in hotel and tourism sector, according to a report by DIPP.

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