Indian tourism industry to post above-average growth in 2014

CHENNAI, India – Travel and tourism industry in India is likely to post above-average growth this year, according to the World Travel and Tourism Council (WTTC).

WTTC’s annual economic impact report 2014 for India shows that travel and tourism’s economic contribution is expected to grow by 7.3% this year, outperforming the general economy by 2.5% points.

Revenues gained from domestic tourism rose by 5.1% in 2013 and is expected to increase by 8.2% in 2014. The amount that international visitors spent in India rose by 6.2% in 2013 but is forecast to slow to a 2.9% growth rate in 2014.

“Inbound tourism is continuing to grow both in terms of international tourist arrivals and international tourism receipts. But it is the domestic market which will see particularly strong growth in 2014 with more investment and more Indians travelling,” David Scowsill, president and chief executive officer, WTTC, said.

The Government of India has announced that it proposes to extend visa on arrival and electronic travel authorization for tourists from 180 countries and to speed up the application process for those still requiring a paper visa. It plans to issue visa in three days in such cases.

During 2013, travel and tourism industry contributed Rs 63,160 crore to the economy and generated 35 million jobs.