One hopes the new slogan helps in attracting more foreign tourists to India for experiencing nature’s beauty and cultural diversity. The country needs a vibrant tourism sector now more than ever. The economy is decelerating, private consumption is slowing down as is service sector growth. Higher growth in tourism and hospitality sector that accounts for nearly a tenth of India’s GDP and more than 8% of total employment can appreciably help the economy’s turnaround bid.
In its annual analysis quantifying the global economic and employment impact of travel and tourism in 185 countries, the World Travel & Tourism Council’s (WTTC) research reveals that the sector has outpaced the global economic growth for the eighth consecutive year in 2018 and grew at 3.9% during the year – higher than the global GDP growth of 3.2%. It contributed $8.8 trillion to the global economy and accounted for 319 million jobs, equivalent to one in every ten jobs. The scale of growth and importance of the sector is also evident from the fact that one in five of all new jobs created in the world over the last five years were in travel and tourism.
A large number of people are traveling across the world – be it for work needs or pleasure or for enjoying the beauty of old architectural splendours – and the number is increasing steadily with international arrivals growing from 25 million in the 1950s to 1.4 billion in 2018 and to an estimated 2.2 billion by 2029. The industry is proving resilient to both geopolitical uncertainty and economic volatility.
India jumps six places in tourism competitiveness index
India is in the midst of a growing tourism economy with its vast expanse of natural beauty, numerous historical monuments and age-old religious destinations. The recent government initiatives and steady promotional activities abroad have seen a sharp rise in India’s tourism competitiveness globally. It has jumped six places to reach the 34th rank in 2019 in global travel and tourism competitiveness list prepared by World Economic Forum (WEF).
“India showed the greatest percentage improvement to its overall Travel & Tourism Competitiveness Index (TTCI) score, which has helped it become the only lower-middle income country in the top 35,” the report said and lauded India’s natural and cultural assets and price competitiveness.
In the previous ranking in 2017, India had jumped 12 places to reach the 40th position. International openness through strong policies including implementing visa on arrival and e-visas and improvements in the country’s ground transport infrastructure and strong price competitiveness have benefited the travel and tourism sector in the country, the report said.
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