In 2011, the World Economic Forum ranked India as the 12th most attractive tourist destination in the Asia-Pacific. Travel and tourism is the largest service sector in India according to Timetric analysis. In 2011, the tourism sector accounted for 7.3% of the country’s GDP and employed 7.25% of India’s total workforce. During the review period, total tourist visits to India increased from 541.4 million in 2007 to 831.5 million in 2011, registering a CAGR of 11.32%.
This growth is attributed to a variety of factors including government initiatives, such as the granting of export house status to the Indian tourism sector, incentives for promoting private investment in the form of income tax exemptions, and the provision of interest subsidies.
The Future of Travel and Tourism in India to 2016 report provides market analysis, information and insights, including:
- Historic and forecast tourist volumes covering the entire India travel and tourism sector
- Detailed analysis of tourist spending patterns in India
- The total, direct and indirect tourism output generated by each sector within the Indian travel and tourism sector
- Employment and salary trends for various categories in the Indian travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries and others
- Detailed market classification across each industry, with analysis using similar metrics
- Detailed analysis of the airline and car rental markets plus the hospitality and travel intermediaries industries.
Key Highlights
- The growth in trip volumes across tourist types was driven by the concerted efforts of the Indian government to promote the tourism sector and better tourist facilitation. The government extended infrastructure status to the tourism sector in 2004, allowing cheaper, long-term funds to help finance tourism infrastructure.
- With more people migrating to cities for employment, the traditional ‘joint-family’ system in India has given way to an increasing number of nuclear families. This trend has brought a change in lifestyle with an increasing number of people visiting friends and families during vacations.
- The government has established incentives for tour operators that promote domestic tourism. In addition, there is potential for income tax exemption for hospitality providers who invest 50% of their profits back into tourism infrastructure.
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