India’s travel and tourism sector is set for significant expansion. Its valuation is expected to more than double to $523 billion over the next decade. According to Julia Simpson, President, WTTC, the sector, which currently contributes around 7% to India’s GDP and employs approximately 45 million people, is projected to support 63 million jobs by 2034.
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According to IBEF’s report on ‘Growth of Tourism and Hospitality Industry’, travel and tourism are the two largest industries in India with a total contribution of about $178 billion to the country’s GDP. With this, the travel market in India is projected to reach $125 billion by FY2027, while the foreign tourist arrival is expected to touch 30.5 million by 2028.
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In an exclusive interview with Ayyappan Rajagopal, Chief Executive Officer of Cleartrip, quotes that same old mundane itinerary would not work anymore; clients/customers demand and want new experiential and unique itineraries to attract a greater number of loyal clients.
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