The Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India. Tourism in India has significant potential considering the rich cultural and historical heritage, variety in ecology, terrains and places o natural beauty spread across the country. Tourism is also a potentially large employment generator besides being a significant source of foreign exchange for the country.
Source: World Travel & Tourism Council's Economic Impact 2015, News Article, TechSci Research.
Note: E - Estimated; The definition of direct, in direct and contribution is specified in the appendix.
The sector's total contribution to GDP is expected to increase to US$ 136.2 billion by the end of 2016 and is expected to further grow to US$ 280.5 billion by 2026.
The total contribution of travel and tourism to Indian GDP is forecasted to increase by 4.97 per cent per annum to US$ 280.5 billion by 2025 (7.2 % of GDP).