4.8 C
London
Saturday, March 2, 2024
HomeInternational tourists in India spend 26x more than domestic: Visa
Array

International tourists in India spend 26x more than domestic: Visa

Date:

Related stories

spot_imgspot_img


Global digital payments leader Visa and professional services organisation EY, have launched a comprehensive report titled “Charting the Course for India – Tourism Megatrends Unpacked,” where they revealed that India‘s tourism industry is on track to reach USD 1 trillion by 2047, with data-led tourism set to be a key driver of growth.

The report also mentioned that close to 400 million jobs are to be created in the tourism industry by 2047. International tourists in India spend 26x more than domestic tourists, a data point indicated in the report highlighted that attracting global visitors is key for Indian tourism industry.

In the last two years, the Covid-19 pandemic has spurred a rapid global research effort into the tourism sector, leading to the emergence of some long-term and self-sustainable solutions. In India as well, there has been an extensive discourse on the impact of Covid-19 on the sector, resulting in issues and solutions created by the sector and government.

The report identifies Sustainability, Enabling Technologies, and Evolving Tourist Preferences as the main disruptive forces driving tourism. Sustainable tourism experiences and offerings are in high demand worldwide, and this trend is likely to continue in the future. At present, the global sustainable tourism market is valued at USD 180 billion. In India, this is valued between USD 26 million- USD 2.5 billion and is expected to grow at 15 per cent CAGR.

India should be positioned as experiential, sustainable & green destination: Amitabh Kant

He said that tourism sector is not only a driver of growth but also a driver of job creation and employment, having a significant impact on handloom, handicrafts, & culture. Indian tourism will get a boost if every state creates unique products and positions its products in the global market. Digital transformation in driving growth for tourism and the economy is very important, he added.

The second major trend is the role played by innovative technologies and digitalisation. In the aviation, travel, and tourism industries, digitalisation is expected to create USD 305 billion in value and move USD 100 billion of value away from traditional players to new competitors globally. Visa and EY believe that by implementing the insights from this report, India can create a more sustainable and tech-enabled tourism industry, which will benefit the country’s economy, people, and culture.

The report was unveiled in the presence of Amitabh Kant, G20 Sherpa, and former CEO, NITI Aayog, and Alfred F Kelly Jr, Executive Chairman, Visa, at the ASSOCHAM India Tourism Conference in New Delhi.

  • Published On May 11, 2023 at 12:39 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETTravelWorld App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App




Source link

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here