AN OVERVIEW OF the travel and tourism (T&T) sector globally reveals interesting comparisons. In 2019, the Top 10 tourist destinations were France (90 million tourists), Spain, the US, China, Italy, Turkey, Mexico, Thailand, Germany and the UK (nearly 40 million tourists). In comparison, India received 18 million international tourist arrivals (ITAS), of which 11 million were foreign tourist arrivals (FTAS) and 7 million were non-resident Indians (NRIs). So, if India's share of the global gross domestic product (GDP) was 3.3 per cent in 2019, its share of FTAs was only 1.22 per cent. This explains why, when T&T contributed 10.3 per cent to total global GDP in 2019, the sector contributed only 6.8 per cent to India's GDP (for Thailand and Spain it was 21.9 per cent and 14.6 per cent, respectively).
In 2019, the T&T sector contributed to nearly 5.7 per cent of direct employment and 7.3 per cent of indirect employment in India. In the same year, the global contribution of this sector to direct employment was double, at 10.4 per cent.
Tourism in India: The Government of India expects the T&T sector to recover to pre-pandemic levels by mid-2024, and targets India's share of ITAs at 2 per cent of the global total by 2025. By 2024, it is estimated that the T&T sector will contribute $150 billion to India's GDP (with 15 million FTAS and $30 billion in foreign exchange), which is expected to grow to $250 billion by 2030. Even if this target is met, the T&T sector's contribution to India's GDP will be below the global average of 10.3 per cent.
Denne historien er fra February 19, 2023-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra February 19, 2023-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
