RBETA recognises India’s booming tourism sector and disruptors driving the growth- Republic World

RBETA Trave & Tourism | Image:Republic Business

India’s booming travel industry: India is on its way to emerge as a major player in the global travel market, with projections indicating it will rise to fifth place in outbound travel spending by 2027, reaching $89 billion compared to its current tenth position at $38 billion in 2019. 

The forecasts, outlined in a report by Bernstein aimed at identifying key potential travel markets, highlight India’s growing importance in the industry. Furthermore, India is expected to become the third-largest domestic travel market by 2027, with expenditures reaching $174 billion, up from $127 billion in 2019 when it held the fifth position.

India’s Ministry of Tourism is also pushing towards infrastructure development within the tourism sector, allocating more than half of its budget to funding various projects. The initiatives include the improvement of destinations, circuits, mega projects, and rural tourism infrastructure, indicating a robust…