INDIAN TOURISM INDUSTRY AT A GLANCE IN 2018 - 2019 Industry Overview
During 2018, Foreign Exchange Earnings (FEE) from tourism increased 4.70 per cent- year-on-year to US$ 28.59 billion. During 2018, foreign tourist arrivals (FTAs) in India stood at 10.56 million, achieving a growth rate of 5.20 per cent year-on-year.
India was ranked 7th among 184 countries in terms of travel & tourism’s total contribution to GDP in 2018. Travel and tourism is the third largest foreign exchange earner for India. During 2018, arrivals through e-tourist visa increased 39.60 per cent year-on-year to 2.37 million.
The travel & tourism sector in India accounted for 8 per cent of the total employment opportunities generated in the country in 2018, providing employment to around 41.6 million people. The number is expected to rise by 2 per cent annum to 52.3 million jobs by 2028.
International hotel chains are increasing their presence in the country, as it will account for around 47 per cent share in the Tourism & Hospitality sector of India by 2020 & 50 per cent by 2022.
Investments
During the period April 2000-December 2018, the hotel and tourism sector attracted around US$ 12 billion of FDI, according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT).
Industry Forecast
Total contribution by travel and tourism sector to India’s GDP is expected to increase from Rs 15.24 trillion (US$ 234.03 billion) in 2017 to Rs 32.05 trillion (US$ 492.21 billion) in 2028. 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.
