Tourism Industry
Tourism & Hospitality Sector (including Travel and Hospitality services such as hotels and restaurants) has been universally recognized as an agent of development and an engine for socio-economic growth. According to WTTC’s India Benchmarking Report 2015, every USD 1 million in Travel and Tourism spending in India generates USD 1.3 million in GDP. e-Visas In November 2016, the e-Tourist Visa (eTV) scheme, which was launched on November 27, 2014 for nationals of 43 countries, was renamed to e-Visa scheme with three sub-categories i.e. ‘e-Tourist Visa’, ‘e-Business
Visa’ and ‘e-Medical Visa’. ndia’s travel and tourism industry has huge growth potential. The tourism industry is also looking forward to the expansion of E-visa scheme which is expected to double the tourist inflow to India. India's travel and tourism industry has the potential to expand by 2.5 per cent on the back of higher budgetary allocation and low cost healthcare facility, according to a joint study conducted by Assocham and Yes Bank.
Foreign Tourist Arrivals (FTAs) in India increased 14.4 per cent year-on-year to 1.005 million and the number of FTAs on e-tourist visa increased 56.2 per cent to 214,000 in November 2017, as per Ministry of Tourism, Government of India. International hotel chains will likely increase their expansion and investment plans in India, and are expected to account for 50 per cent share in the Indian hospitality industry by 2022, from the current 44 per cent.* The Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India. The second-largest sub-segment of the services sector comprising trade, repair services, hotels and restaurants contributed nearly US$ 295.7 billion or 19.2 per cent to the Gross Domestic Product (GDP) in 2015-16, while growing at 8.9 per cent year-on-year. The industry is expected to generate 13.45 million jobs! across sub-segments such as Restaurants (10.49 million jobs), Hotels (2.3 million jobs) and Travel Agents/Tour Operators (0.66 million). India has moved up 13 positions to 52nd rank from 65th in Tourism & Travel competitive