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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.
During 2014-16, the Government has undertaken various initiatives through policy interventions and by enabling infrastructure development to make ‘Incredible India’ a ‘must revisit, must experience’ destination. As a result of these initiatives, the sector has registered a phenomenal growth in domestic tourism, foreign tourist arrivals, foreign exchange earnings, and employment opportunities.
- As per the Travel & Tourism Competitiveness Index 2015 of the World Economic Forum, India’s rank climbed up 13 Places to 52 in 2015 from 65 in 2013.
- The UNWTO Tourism Barometer (Volume 14, May 2016) currently ranks India at #40 in terms of global tourist footfalls. The goal is to increase India’s share in world tourist arrivals from the present 0.68% to 1% by 2020, and further increase it to 2% by 2025.