Tag Archives: IBEF

A recent report by India Brand Equity Foundation (IBEF) has claimed that the share of revenues from leisure travel to the total tourism revenue stood around 94.8 percent in 2018. Leisure travel spending reached US$234.16 billion in 2018 and is expected to reach US$432.3 billion by 2028, the report stated. Business travel revenues were US$12.84 billion in 2018 and are projected to increase to US$24.4 billion by 2028.

The India Brand Equity Foundation (IBEF), in its latest report titled ‘Tourism and Hospitality’ has ranked India as eighth in the world in 2017 in terms of absolute direct contribution of travel and tourism to its GDP. The tourism and hospitality sector’s direct contribution to GDP in 2017, was Rs 5.94 trillion (US$91.27billion). This is expected to reach Rs 12.68 trillion (US$194.69billion) in 2028, implying a CAGR of 7.23 percent during 2012-28. According to 2018 report of the World Travel and Tourism Council (WTTC), India was ranked third in the tourism sector. India generated revenue of about US$247 billion in 2018

The tourist arrivals through visa on arrival increased at a CAGR of 120.99 per cent during 2010-17 to reach 1,697,175 tourists in 2017, as per a Tourism and Hospitality report by IBEF. Indian government has also released a fresh category of visa – the medical visa or M visa, to encourage medical tourism in India. Foreign tourist arrivals for medical purpose increased from 427,014 in 2016 to 495,056 in 2017(P). In June 2016, the Indian government approved 150 countries under the visa on arrival scheme to attract additional foreign tourists.

The collective government spending in India on travel and tourism is expected to reach Rs 367.9 billion (US$ 5.85 billion) in 2028, according to a report by Tourism and Hospitality report by “Collective government spending on tourism by IBEF”. In 2017 the collective spending was Rs 169.8 billion (US$ 2.81 billion), the report said.