(TAN): India’s Travel & Tourism sector is in strong recovery and will be within touching distance of the pre-pandemic peak this year, the World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) says.
Speaking to ministers at the G20 Summit in India last week, WTTC President & CEO Julia Simpson, highlighted the sector’s resilience, growing at twice the rate of GDP not only in India, but across all G20 nations.
WTTC research forecasts travel & tourism contributing INR 16.5 trillion (USD 201 billion) to the Indian economy this year, just 3.5% below 2019. The sector is predicted to create more than 1.6 million more jobs this year, recovering almost all of the jobs lost due to the Covid-19 pandemic to reach almost 39 million, with around one in 13 workers in India in the travel & tourism sector.
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International visitor spend in India is forecast to reach more than INR 2 trillion with domestic visitor spend forecast to reach more than INR 12.6 trillion.
“The G20 presidency provides India with the opportunity to highlight the economic and social value of travel & tourism, at a critical moment for the global economy,” Simpson said. “Travel & tourism creates great job opportunities, providing exciting career opportunities for young people to be part of sustainable tourism under Travel for Life. WTTC has brought a panel of private sector leaders to the G20 to talk candidly about the opportunities and challenges facing the sector. Growth will be double GDP, but we need governments to focus on reliable energy and sustainable aviation fuel production.”
