WTTC research predicted India’s travel sector & its contribution to economy surpass pre pandemic levels
Published on : Saturday, June 4, 2022
The World Travel & Tourism Council carried on an analysis. It brought to the forefront that India’s contribution of travel and tourism for the economy of the country is hoped to surpass the levels that existed before the pandemic times, registering a YOY progression of 20.7%.
The recent Economic Impact Report of WTTC explains that India’s contribution of travel and tourism into its economic sector has a chance to rise above Rs. 15.9 trillion in 2022. It would be 1% more than the 2019 levels.
Also, it’s anticipated that nearly 35 million travel & tourism jobs would be generated. In 2022, it would mark a growth of 8.3%.
In the next decade, the GDP of India and related travel & tourism is anticipated to develop at an average of 7.8% annually, as opposed to 6.7% of the economy of India in general, reaching almost Rs. 33.8 trillion. As a whole, this signifies 7.2% of the economy.
The travel and tourism sector in India, according to the forecast, is hoped to generate 24 million jobs in the next decade. It could also generate close to over 2.4 million new jobs every year.
Julia Simpson, the WTTC President and CEO, mentioned that the segment of India went through its toughest times due to COVID-19 and related restrictions followed by the lockdowns. However, the future of travel sector looks promising and it’s also considered that travels from and to India will surpass the levels of 2019 in the forthcoming days.
Tags: Tourism news, WTTC