WER report gives a boost to India’s T&T
India’s travel and tourism sector has got a big boost as it has taken a leap of 6 places and is now ranked 34th on the world travel and tourism competitiveness index.
Since 2017, India has made the greatest improvement among the top 25 per cent of the countries among 140 countries that have been ranked in World Economic Forum (WEF) list of nations
The study ranks the countries on four indicators namely, enabling environment; travel and tourism policy and enabling conditions; infrastructure; natural and cultural rankings.
India also accounts for a major chunk of South Asia’s travel and tourism GDP, making it one of the most competitive T&T-oriented economies in the sub-region itself.
The report also indicates that India has better air infrastructure, ground and port infrastructure, international openness and natural and cultural resources. However, in terms of lessons to be learnt, India needs to enhance its enabling environment, tourist service infrastructure and environmental sustainability.
India’s Tourism Revenue reached 3 USD bn in Jul 2019, compared with 2 USD bn in the previous month. Total contribution by travel and tourism sector to India’s GDP is expected to increase from Rs 15.24 trillion (US$ 234.03 billion) in 2017 to Rs 32.05 trillion (US$ 492.21 billion) in 2028. India was ranked 7th among 184 countries in terms of travel & tourism’s total contribution to GDP in 2017. Travel and tourism is the third largest foreign exchange earner for India.
According to the WEF report, the world’s most travel-ready nations are Spain, France, Germany and the US.