Fuelled by India becoming one of the world’s top travel destinations, the travel and tourism ecosystem in India has registered remarkable growth post the pandemic, according to Sachin Alug, CEO, NLB Services.
Serving as a crucial source of foreign exchange, travel, and tourism contributed INR 15.9 trillion (USD 191.25 billion) to India’s economy in 2022 and was estimated at INR 16.5 trillion for 2023. “The growing synergy of the sector has led to steadfast employment generation across the country both in Tier I and Tier II locations”, he said.
In the pandemic year 2020, the tourism sector accounted for 39 million jobs, constituting 8 percent of the nation’s total workforce. Post the pandemic recovery tenure, this sector was one of the sectors that saw the quickest recovery. Incidentally, talent demand in tourism recorded a 44 percent spike in August 2023, and 1.6 million additional jobs were expected to be added within CY 2023. With the…
