Tag Archives: WTTC

In 2018, visitor exports are expected to grow by 8.8 per cent, and India is expected to attract 18,655,000 international tourist arrivals, according to a report by WTTC. Visitor exports are a key component of the direct contribution of Travel and Tourism. In 2017, India generated Rs 1,777.1 billion in visitor exports. By 2028, international tourist arrivals are forecast to total 30,469,000, generating expenditure of Rs 3,316.4 bn, an increase of 5.5 per annum, the report said.

According to a report by WTTC,  domestic travel spending is expected to grow by 7.3 per cent in 2018 to Rs 12,999.5 billion, and rise by 7.4 per cent per annum to Rs 26,427.8 billion in 2028. The domestic travel spending has generated 87.2 per cent of direct Travel and Tourism GDP in 2017 compared with 12.8 per cent for visitor exports (ie foreign visitor spending or international tourism receipts), the report said. Visitor exports are expected to grow by 8.8 per cent in 2018 to Rs 1,934.1 billion, and rise by 5.5 per cent per annum to Rs 3,316.4 billion in 2028.

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.

Domestic expenditure reached Rs 12.11 trillion (US$ 186.03 billion) in 2017 and is expected to reach Rs 26.43 trillion (US$ 405.84 billion), implying a compounded annual growth rate of 7.29 per cent between 2012-28, according to World Travel & Tourism Council’s (WTTC’s) Economic Impact 2018 report. Domestic expenditure on tourism is expected to rise due to the growing income of households. A number of niche offerings such as medical tourism and ecotourism are expected to create more demand.

India ranked eighth in the world in 2017 in terms of absolute direct contribution of travel and tourism sector’s to its GDP, according to World Travel & Tourism Council’s (WTTC’s) Economic Impact 2018 report. It is the third largest foreign exchange earner for the country. The tourism and hospitality sector’s direct contribution to GDP in 2017 was Rs 5.94 trillion (US$ 91.27 billion). This is expected to reach Rs 12.68 trillion (US$ 194.69 billion) in 2028, implying a CAGR of 7.23 per cent during 2012-28.

According to a latest report by World Travel & Tourism Council (WTTC) on the economic impact of travel and tourism industry in India, leisure travel spending (inbound and domestic) generated 94.6 per cent of direct travel and tourism GDP in 2017 (Rs 13,135.2 bn) compared with 5.4 per cent for business travel spending (Rs 755.9 bn). Leisure travel spending is expected to grow by 7.6 per cent in 2018 to Rs 14,127.1 bn, and rise by 7.1 per cent pa to Rs 28,154.5 bn in 2028. Business travel spending is expected to grow by 6.7 per cent in 2018 to Rs 806.4 bn, and rise by 7.0 per cent pa to Rs 1,589.7 bn in 2028. Gloria Guevara, President & CEO, WTTC, said, “2017 was one of the strongest years of GDP growth in a decade with robust consumer spending worldwide. This global growth transferred again into travel and tourism with the sector’s direct growth of 4.6 per cent outpacing the global economy for the seventh successive year.”

India will add around 10 million jobs in the travel and tourism sector by 2028, according to a latest report by the World Travel & Tourism Council (WTTC). WTTC forecasts that the total number of jobs related to tourism will increase from 42.9 million in 2018 to 52.3 million in 2028. India is currently the seventh largest travel and tourism economy in the world. Overall, the total contribution of the sector to the economy was Rs 15.2 trillion (US$234 billion) in 2017, or 9.4 per cent of the economy once its direct, indirect and induced benefits are taken in to account. Gloria Guevara, President & CEO, WTTC, said, “Travel and tourism creates jobs, drives economic growth and helps build better societies. This is particularly clear in India which is forecast to be one of the fastest-growing tourism economies in the world over the next decade, adding 10 million jobs and hundreds of millions of dollars to the economy by 2028.” “Looking to the future, India can strategically lead travel facilitation within the SAARC region by introducing a standard technological solution, modern technology and biometrics. This will enhance the travel and tourism economies in the region. The Indian aviation market is expanding with rapid advancement in connectivity within India. Indian airlines have booked 900 plus new aircrafts to add capacity and expand operations over next couple of years,” Guevara shared.

Sujit Banerjee, Secretary General, WTTC, India Initiative, has been honoured with the Legend in Public Service award. He retired as Union Secretary to the Government of India, Ministry of Tourism. Banerjee has served the Government of India in various capacities in his distinguished career as an Officer of the Indian Administrative Service. In his career, he has served as Secretary, Central Vigilance Commission; Secretary and Chairperson of National Authority, Chemical Weapons Convention. He also headed a committee constituted by the Ministry of Environment and Forests to formulate guidelines for forest and wildlife ecotourism in the country. He has served as Member on the Ethics Committee of Standing Conference of Public Enterprises; as Chairman, Advisory Committee on World Heritage Matters, Ministry of Culture; as a part-time non-official Director on the Board of SAIL and as Chairman, Committee for National Heritage Sites, Ministry of Culture.

The World Travel & Tourism Council (WTTC) has elected Christopher J. Nassetta, President, and CEO of Hilton, as the Council’s next Chairman. Nassetta joined Hilton in 2007 and since assuming the role of CEO he has brought Hilton hospitality to 27 new countries by adding 2,200 hotels to a network of more than 5,000 properties in 103 countries and territories. He has been a Member of WTTC’s Executive Committee since 2011 and Vice Chairman for North America since 2014. Nassetta will take over from current Chairman, Gerald Lawless, following the Council’s Annual General Meeting, which will take place in Buenos Aires, Argentina on April 17, 2018. Lawless said, “It has been an honour to serve as Chairman of WTTC for the past two years and I am delighted to be handing over to Chris Nassetta to steer the Council into its next phase of development. I am sure that he and Gloria Guevara, WTTC’s President and CEO, will form a strong team to advocate for the economic and social benefits of Travel & Tourism.” Nassetta said, “I would like to thank Gerald for his tireless advocacy on behalf of the global travel and tourism industry. I am also honoured to accept the role as WTTC Chair at a time of amazing opportunity and growth. I believe the Council can play an important role to bring governments and the industry together to deliver smart plans that support both security and international travel. I also believe that the unique scale and reach of WTTC members can be used to tackle significant global issues, including climate change and global youth unemployment.”

The World Travel & Tourism Council (WTTC) has announced the appointment of Gloria Guevara Manzo as its new President and CEO. She served as Secretary of Tourism for Mexico and CEO of the Mexican Tourism Board from 2010 to 2012, minister in the cabinet of President Calderón. Prior to that, she worked for global distribution system Sabre where most recently she was CEO of Sabre Mexico, reporting to the board of directors of a joint venture between Aeroméxico, Mexicana and Sabre Holdings. She is currently Special Advisor on Government Affairs for the Centre on Health and the Global Environment at the School of Public Health, Harvard. Announcing Guevara’s appointment, Gerald Lawless, WTTC Chairman, said “Gloria is a proven leader who is well known and well respected within the global Travel & Tourism sector. I am delighted that she will lead WTTC into the next phase of its development. She was chosen from a competitive field of international candidates. With a career encompassing senior roles across private sector, government and academia, she brings a unique combination of experience and expertise.”