Tag Archives: GDP

Tourism likely to contribute 3.5 per cent to India’s GDP by 2027

The direct contribution of travel and tourism sector — which reflects the net value of output generated by hotels, airlines, travel agents, other passenger transportation services (excluding commuter services), and restaurants and leisure industries directly supported by tourists — was expected to rise 6.9 per cent YoY in 2017, suggests a FICCI-KPMG report. This accounts for 3.3 per cent of the country’s GDP, and is expected to form 3.5 per cent of it by 2027. In accordance with its GDP contribution, the sector contributes significantly to job creation. The sector directly accounts for 5.8 per cent of the total employment in India. Further, the Indian travel and tourism sector is expected to have attracted capital investment of Rs 2,387.7 billion (USD35.2 billion) in 2017 — accounting for 5.7 per cent of the total national investment.

Read More »

Tourism to contribute $12,450 billion to global GDP by 2028: WTTC

A recent report by World Travel and Tourism Council (WTTC) suggests that total contribution of tourism to global GDP will grow to USD 12,450.1 billion (11.7% of GDP) by 2028. Further, according to the report, total employment contribution of tourism sector accounts for 9.9 per cent of global employment in 2017, supporting twice as many jobs as financial sector. Travel & Tourism investmentA recent report by World Travel and Tourism Council (WTTC) suggests that total contribution of tourism to global GDP will grow to USD 12,450.1 billion (11.7% of GDP) by 2028. Further, according to the report, total employment contribution of tourism sector accounts for 9.9 per cent of global employment in 2017, supporting twice as many jobs as financial sector. Travel & Tourism investment in 2017 was $882.4 billion, or 4.5 per cent of total investment. It is projected to rise by 4.3 per cent per annum over the next ten years to $1,408.3 billion in 2028 (5.1% of total). Tourism contribution to global GDP (10.4 per cent in 2017) is higher than many other sectors.

Read More »

Travel & tourism’s GDP in Delhi to witness double-digit growth over the next 10 years

The GDP in Delhi in terms of travel and tourism is set to experience double-digit growth over each of the next 10 years (10.8%), according to a recent report by World Travel & Tourism Council (WTTC). Its share of overall city GDP will remain relatively unchanged from the current 3.6 per cent as other industry sectors also gain prominence. The sector’s share of Delhi’s employment is also set to remain steady at 8.3 per cent over the years to 2026. The Capital generated US$3.2 billion from travel and tourism in 2016, just over one third coming from international visitors. Delhi has much less source market dominance than in other Asian Pacific cities, however, with the largest market, the US, contributing just 11% of inbound traffic.

Read More »