WTTC research says travel and tourism’s contribution toward India’s economy is expected to exceed pre-pandemic levels
Published on : Thursday, June 2, 2022
A research carried on by the World Travel & Tourism Council has brought to the fore that the contribution of travel and tourismfor the economy of Indiais expected to exceed the levels of the times before the pandemic, registering a YOY progression of 20.7%.
The WTTC’s newest Economic Impact Report says that the contribution of travel and tourism to India’s economy might go up to almost Rs. 15.9 trillion this year, which is 1% more than the levels of 2019.
Levels of work are expected to produce nearly 35 million travel & tourism jobs, marking a growth of 8.3% this year.
India’s travel & tourism’s GDPin the next decade is anticipated to develop at an average of 7.8% on a yearly basis, as compared to 6.7% of the overall economy of India, reaching nearlyRs. 33.8 trillion,signifying 7.2% of the economy as a whole.
As per the prediction, the travel and tourism sector is anticipated to generate more than 24 million jobs in the course of the next decadeor close toover 2.4 million new jobs each year.
The WTTC President and CEO Julia Simpson said that the travel and tourism segment of India endured a lot of tough times as a result of the pandemic, restrictions and the lockdowns, andthe future looks promisingwith regard to travel and tourismand travels from and to India expected to surpass the levels of 2019.