Tag Archives: Foreign Exchange Earnings

Highlighting the efforts being made to make tourism an integral part of building a ‘Viksit Bharat’, Gajendra Singh Shekhawat, Minister of Tourism, Govt of India, said a total of 76.17 million jobs have been created in the tourism sector along with launching programs like Paryatan Mitra and Paryatan Didi. Foreign exchange earnings are estimated to be $28.07 billion, marking a 42.53% increase compared to 2014.

Foreign Exchange Earnings (FEE) from tourism stood at USD 28.9 billion (INR 1.97 trillion) in 2018, which accounted for 5.4 per cent of the total exports, according to a latest FICCI-Yes Bank report. The contribution is further expected to increase by 6.8 per cent in 2019 and rise by 5.6 per cent p a by 2029 to reach INR 3.63 trillion. However, India ranks 14th in terms of absolute FEE and 122nd in terms of share of visitor exports in total export. India is also the third largest globally in terms of investment in travel & tourism with an investment of USD 45.7 billion (INR 3.12 trillion) in 2018, accounting for 5.9 per cent of national investment. This is expected to increase by 9.4 per cent in 2019 to INR 3.42 trillion, and further rise by 7.4 per cent p a till 2029, taking the share in national investment to 6.1 per cent.

Foreign Exchange Earnings (FEEs) during 2017 were USD 27,742 mn with a growth of 17.0 per cent over 2016, according to a recent report on inbound tourism by FICCI and Yes Bank. This growth trend is dependent on many external factors including exchange rate and socio–political scenario. However, despite global undulations, FEEs have consistently contributed a significant share to the tourism GDP of India. The rising flow of Foreign Tourist Arrivals (FTAs) is clearly a function of the stellar growth performance of emerging tourism trends like MiCE along with spiritual travel and medical tourism. Furthermore, it goes without saying that FTAs have been able to garner considerable resources for the country and started contributing significantly to the economy.

Foreign Exchange Earnings (FEEs) during 2017 were USD 27,742 mn with a growth of 17.0 per cent over 2016, according to a latest FICCI-Yes Bank Report. This growth trend is dependent on many external factors including exchange rate and socio–political scenario, however, despite global undulations, FEEs have consistently contributed a significant share to the Tourism GDP of India. The rising flow of Foreign Tourist Arrivals (FTAs) is clearly a function of the stellar growth performance of emerging tourism trends like MiCE along with spiritual travel and medical tourism. Furthermore, it goes without saying that FTAs have been able to garner considerable resources for the country and started contributing significantly to the economy. Foreign tourists tend to spend more in India than almost any other country worldwide due to its size as well as diversity of culture and geography. These are positive signs for the industry, and indicate significant potential going forward.

According to the data released by Ministry of Tourism, Foreign Exchange Earnings (FEEs) during the month of February 2018 were ₹17, 407 crore as compared to ₹15,790 crore in February 2017 and ₹13,661 crore in February 2016. The growth rate in FEEs in February 2018 over February 2017 was 10.2 per cent, compared to the growth of 15.6 per cent in February 2017 over February 2016. The FEEs during the period of January-February 2018 were ₹35,132 crore with a growth of 10.0 per cent, as compared to the FEE of ₹31,925 crore in January-February 2017 with a growth of 16.8 per cent over January- February 2016.

According to the data released by Ministry of Tourism, Foreign Exchange Earnings (FEEs) during the month of September 2017 were recorded at Rs.13,867 crore as compared to Rs.11,642 crore in September 2016 and Rs.10,415 crore in September 2015. The growth rate in FEEs in rupee terms in September 2017 over September 2016 was 19.1 per cent as compared to the growth of 11.8 per cent in September 2016 over September 2015. FEEs during the period January- September 2017, was recorded at Rs.1,29,871 crore, amounting to a growth of 16.8 percent over same period of previous year. The FEEs during January-September 2016 were Rs.1,11,229 crore and amounted to a growth of 13.7 percent over January- September, 2015.

According to the data released by Ministry of Tourism, Foreign Exchange Earnings (FEEs) during the month of August, 2017 were ₹13,922 crore as compared to ₹12,553 crore in August, 2016 and ₹11,411 crore in August, 2015. The growth rate in FEEs in terms of rupee during August, 2017 over August, 2016 was higher, with 10.9 per cent as compared to the growth rate of 10.0 per cent in August, 2016 over August, 2015. The FEEs during the period of January- August, 2017 was recorded at ₹1,16,004 crore, amounting to a growth of 16.5 per cent as compared to the FEEs of ₹99,587 during January-August 2016 which amounted to a growth rate of 13.9 per cent over January- August, 2015.

Foreign Exchange Earnings (FEEs) through tourism during the month of January 2017 was recorded at Rs.16,097 crore as compared to Rs.13,669 crore in January 2016 and Rs.12,100 crore in January 2015. The growth rate in FEEs (in rupees) during January 2017 over January 2016 was 17.8 per cent as compared to the growth rate of 13.0 per cent in January 2016 over January 2015. This data was provided by Ministry of Tourism based on the credit data of travel head as available from Balance of Payments of RBI for the previous year.

According to the data released by Ministry of Tourism, foreign exchange earnings (FEEs)through tourism was recorded at Rs 11,637 crore in the month of April, 2016 as compared to Rs. 10,091 crore in April, 2015 and Rs. 9,179 crore in April, 2014. The growth rate in foreign exchange earnings (FEEs) in terms of rupee during April, 2016 over April, 2015 was higher, with 15.3 per cent as compared to the growth rate of 9.9 per cent in April, 2015 over April, 2014. The FEEs during the period of January-April, 2016, was recorded at Rs. 52,048 crore with a growth rate of 15.7 per cent as compared to the FEE of Rs. 44,966 crore with a growth rate of 5 per cent during the period of January-April, 2015 over January- April, 2014.

Foreign Tourist Arrivals (FTAs) during the Month of December 2015 were 9.13 lakh as compared to FTAs of 8.85 lakh during  December 2014. There has been a growth of 3.2% in December 2015 over the same period last year. Ministry of Tourism has released estimates of Foreign Tourist Arrivals (FTAs) on the basis of Nationality-wise, Port-wise data received from Bureau of Immigration (BOI) and Foreign Exchange Earnings (FEEs) from tourism on the basis of data available from Reserve Bank of India. FTAs during the period January- December 2015 were 80.16 lakh with a growth of 4.4%, as compared to the FTAs of 76.79 lakh with a growth of 10.2% in January- December 2014 . FEEs during the month of December 2015 were Rs. 13,253 crore as compared to Rs. 12,988 crore in December 2014 . The FEEs in Rupees terms during December 2015 registered a positive growth of 2.0% over December 2014 as compared to positive growth of 8.3% in December 2014 .