Insights into India's Thriving Tourism and Travel Industry: Growth, Job Creation, and Sustainability

Insights into India's Thriving Tourism and Travel Industry: Growth, Job Creation, and Sustainability

By Author

Published on June 24, 2023

The tourism and travel (T&T) industry in India plays a crucial role in contributing to the country's GDP. According to the World Travel and Tourism Council (WTTC), India ranks 8th globally and has experienced a growth rate of 6.7% in terms of the industry's contribution to the real GDP, amounting to $234.03 million. From 2012-13 to 2017-18, the T&T industry has maintained a Compound Annual Growth Rate (CAGR) of 7.4%. This sector's contribution to India's GDP is expected to grow steadily at 5.5% annually by 2028.

However, the growth of the T&T industry relies on various factors such as government policy initiatives and global political-economic scenarios, including disruptions like the Covid-19 pandemic.

The Medical Tourism sector is predicted to witness significant growth, with a projected CAGR of 21.1% from 2020 to 2027.

The travel market in India is estimated to reach US$125 billion by FY27, surpassing the estimated US$75 billion in FY20.

Furthermore, international tourist arrivals are expected to reach 30.5 million by 2028, indicating a rising interest in India as a tourist destination.

According to the latest report from the WTTC, the tourism sector in India is projected to create an additional 1.6 million jobs this year, contributing to the country's economic growth. The recovery of global tourism is expected to reach pre-pandemic levels of USD 10 trillion, attributed to the reopening of international travel, particularly by Chinese tourists.

Recognizing the immense potential for job creation and entrepreneurship, the Ministry of Tourism has been allocated a budget of US$2.1 billion in 2023-24.

Under the Union Budget 2023-24, an outlay of US$170.85 million has been assigned to the Swadesh Darshan Scheme.

In terms of job creation, the travel and tourism sector added 10.2 million jobs in 2022, with an additional 1.6 million jobs expected to be created in 2023. By 2033, the sector is projected to support 58.2 million jobs in India.

While the industry faces challenges such as inflation and labour shortages globally, efforts are being made to promote sustainable tourism practices, including the adoption of renewable energy sources and efficient resource management.


Over 1 Crore Tourists Visit Jammu and Kashmir Till June 2024

Over 1 Crore Tourists Visit Jammu and Kashmir Till June 2024

By Nithyakala Neelakandan

Published on July 27, 2024

The Centre has announced that over one crore tourists visited Jammu and Kashmir (J&K) from January to June 2024. The region has seen remarkable growth in tourism, particularly following the abrogation of Article 370.

Minister of State for Home Affairs, Nityanand Rai, highlighted the steady rise in tourist numbers over the past few years. In 2020, J&K welcomed 34,70,834 tourists. This number surged to 1,13,14,884 in 2021 and 1,88,64,332 in 2022. Last year, the region saw 2,11,24,874 visitors, and as of June this year, 1,08,41,009 tourists have already explored the Union Territory.

Several strategic measures have been credited for this significant improvement in J&K’s tourism sector. The implementation of the Tourism Policy 2020 and the status of industry granted to the tourism sector under the Jammu and Kashmir Industrial Policy 2021 have played pivotal roles. These policies have provided various incentives, encouraging the growth of the tourism industry.

The improvement in the law and order situation has also contributed to the tourism boom. This resurgence has positively impacted the livelihoods of thousands of people connected to the tourism industry, both directly and indirectly.

To accommodate the increasing influx of tourists, the government introduced homestay guidelines, benefiting both visitors and local residents economically. Additionally, the Jammu and Kashmir Film Policy-2021 and Houseboat Policy-2020 have been significant in promoting the region as a tourist hotspot.

The government has identified 75 off-beat destinations to diversify tourism offerings. Notably, border tourism has gained traction, with previously lesser-known areas like Gurez, Keran, Teetwal, and R.S. Pura opening up to tourists. Adventure and golf tourism are also emerging sectors in J&K.

Jammu and Kashmir is increasingly being recognized as an international tourist destination. The successful hosting of major events, such as the 3rd G-20 Tourism Working Group Meeting, has enhanced the region's global profile.

The development of modern infrastructure, including luxury hotels and resorts, positions J&K as an attractive location for destination weddings and MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism.

The tourism sector's contribution to the Gross State Domestic Product (GSDP) has grown from 7.84% in the financial year 2019-20 to 8.47% in 2022-23. Over the past three years, the sector has recorded an annual average growth rate of 15.13%.


"Unplugged Season 4" Lights Up Pacific Mall NSP Pitampura with Musical Talent

"Unplugged Season 4" Lights Up Pacific Mall NSP Pitampura with Musical Talent

By Nithyakala Neelakandan

Published on July 26, 2024

Pacific Mall NSP Pitampura recently hosted the much-anticipated “Unplugged Season 4,” a musical extravaganza that brought together a wide array of talent across Solo, Duo, and Group categories. Musicians captivated the audience with their performances on various instruments, including guitars and drums. The event featured an eclectic mix of English and Hindi songs, along with original compositions covering genres such as Rock, Jazz, Blues, Fusion/Indie-Fusion, and classical music.

The evening kicked off with electrifying performances from bands like Darjeeling 2 Delhi, Sadgi, Gymick, Young Blood, Spirits of Music, and Flying Soul. Each act brought its unique energy and style to the stage, making it a night to remember. Sadgi emerged as the first prize winner, followed by Darjeeling 2 Delhi in second place, and Young Blood securing third place. The participants showcased a range of musical talents, from soulful classic rock covers to innovative jazz improvisations. The audience was treated to dazzling guitar solos, powerful drum beats, and emotive vocals that filled the mall with an infectious energy.

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Abhishek Bansal, Executive Director of Pacific Group, expressed his delight with the event, stating, “This year's Unplugged Season 4 was a testament to the incredible musical talent present in our community. Each participant brought a unique flavor to the stage, making it a memorable evening for everyone involved. After this year's successful event, we wish to organize more such enriching events in the future.”

The event was a vibrant celebration of music, culture, and community, reinforcing Pacific Mall NSP Pitampura’s commitment to providing a platform for local talent. With plans for future events already in motion, “Unplugged Season 4” has set a high standard and left a lasting impression on all who attended.


Union Budget 2024: Major Push for Spiritual and Tourism Development

Union Budget 2024: Major Push for Spiritual and Tourism Development

By Nishang Narayan

Published on July 24, 2024

The Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, highlights a strategic plan to establish India as a leading global travel destination. The budget outlines several key initiatives aimed at enhancing tourism across the country.

Key Highlights:

  • Development of Spiritual Sites: The government will focus on major spiritual destinations such as Bodh Gaya, Rajgir, Nalanda, and Vishnupada in Bihar. This includes significant upgrades to enhance their appeal as major pilgrimage and tourist sites.

  • Promotion of Cruise and Beach Tourism: A simpler tax regime for foreign cruise companies will be introduced to encourage domestic cruise operations. Additionally, there will be improvements in beach destinations to attract more visitors.

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  • Special Focus on Bihar and Odisha:

    • Bihar: Extensive development plans include enhancing Bodh Gaya’s pilgrimage significance, upgrading Rajgir’s religious and wellness tourism, and revitalizing Nalanda as a cultural and educational center.

    • Odisha: The state will be promoted for its potential in religious and beach tourism.

  • Infrastructure and Economic Growth: The budget includes robust allocations for capital expenditure, aiming to boost infrastructure and create substantial employment opportunities.

The Union Budget 2024-25 sets a clear vision for advancing India’s tourism sector through targeted investments in spiritual and cultural sites, infrastructure enhancements, and promotion of various tourism segments. These initiatives are expected to significantly boost tourism, create jobs, and stimulate local economies, reinforcing India’s position as a global travel destination.

Image Credits: Livemint, News18 

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