New FICCI-Yes bank report declares India as ‘tourism powerhouse’ and largest market in South Asia! Let’s know more about it

New Delhi, Apr 30: India is always a tourist attraction because of her versatile social and physical fabric. The mesmerizing landscapes and humanscapes of India are one of the most fascinating subjects for the outside world. Now, this status again marked by FICCI-Yes bank new report.

The report named ‘India Inbound Tourism- Unlocking the opportunities’ said, India is a ‘tourism powerhouse and largest market in South Asia’. The report said, “strong domestic demand, economic growth, price competitive offerings, infrastructure development and the emergence of the new destination besides niche tourism products will continue to arrive the growth of the industry in future”.

 

The report stated-

1. Till 2029, the Indian tourism sector is likely to grow 6.7% per annum to reach 35 lakh crore with 9.6% contribution to GST.

2. In 2018, the sector generated 2.67 crore jobs. As per the report, until 2029, this sector will provide employment to nearly 5.3 crores million people directly and indirectly.

3. Foreign tourist arrival tends to increase every year. One crore foreign tourists arrived in India in 2017.

4. With the increase of sector, consumption by domestic tourist remains a key strength of the sector.

5. For unlocking its true potential India need systematic growth, maintenance and sustainable development of tourism destination and focus on promoting emerging avenues of tourism is essential.

6. Most importantly, for thematic development of the destination, there is a need for collaboration of public and private sectors.

Central government’s initiatives for promotion of tourism-

1. Rapid implementation of ‘Swadesh Darshan’

2. PRASHAD (Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive)

3. E-visa for citizens from 166 countries and advance tourism guidelines

4. Promotional events like Incredible India 2.0 campaign and India Tourism Mart