INDIAN TOURISM INDUSTRY AT A GLANCE IN 2017 - 2018 Industry Overview
In CY2017, foreign tourist arrival in India stood at 10.177 million and reached 2.12 million in CY 2018 (up to February). Foreign Tourist Arrivals (FTAs) in India increased 8.4 per cent year-on-year to 1.06 million and the number of FTAs on e-tourist visa increased 58.5 per cent to 2.40 lakh foreign tourist as per Ministry of Tourism, Government of India.
Forecast for Tourism sector
The World Travel and Tourism Council forecasts India Tourism sector to grow at an annual average growth rate of 7 per cent over the next 10 years. Foreign tourist arrivals into the country is forecast to increase at a CAGR of 7.1 per cent during 2005–25.
The Government of India has set a target of 20 million foreign tourist arrivals (FTAs) by 2020 and double the foreign exchange earnings as well. The Government of India is working to achieve 1 per cent share in world's international tourist arrivals by 2020 and 2 per cent share by 2025.
India is expected to move up five spots to be ranked among the top five business travel market globally by 2030, as business travel spending in the country is expected to treble until 2030 from the figures of the last couple of years.
Investment Scenario
During the period April 2000-December 2017, the hotel and tourism sector attracted around US$ 10.90 billion of FDI, according to the data released by Department of Industrial Policy and Promotion (DIPP).
