Research conducted by the World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector’s contribution to the Indian economy could surpass pre-pandemic levels this year, with a year-on-year growth of 20.7%.
The forecast from the WTTC’s latest Economic Impact Report (EIR), shows the sector’s contribution to the nation’s economy could reach almost ₹15.9 trillion (U.S. $215 billion) in 2022, 1% above 2019 levels.
Employment levels are set to grow to almost 35 million Travel & Tourism jobs, with an 8.3% growth this year.
Over the next decade, India’s Travel & Tourism’s GDP is expected to grow at an average of 7.8% annually, compared to 6.7% of the India’s overall economy, to reach almost ₹33.8 trillion (U.S. $457 billion) – representing 7.2% of the total economy.
The forecast also reveals the sector is expected to create over 24 million jobs over the next decade, averaging more than 2.4 million new jobs every year.
Julia Simpson, WTTC…