India Daily: Tourism Sector on Track to Inject $200 Billion into Economy

India's travel and tourism sector is poised to contribute $200 billion (Rs16.5 trillion) to the country’s economy in 2023, just 3.5 percent below 2019, according to the World Travel and Tourism Council (WTTC). The sector is also set to create over 1.6 million additional jobs this year, nearly restoring the employment levels lost during the Covid-19 pandemic to reach almost 39 million.

The country's spending by domestic visitors grew 86 percent last year to reach more than $150 billion (Rs12.3 trillion), just 1 percent behind pre-pandemic levels. The sector’s gross domestic product (GDP) contribution increased by nearly 90 percent to surpass $190 billion (Rs15.6 trillion), accounting for almost 6 percent of the economy, closer to its 2019 peak of 7 percent contribution to the economy.

The sector's resilience, growing at twice the rate of gross domestic product (GDP) not only in India but across all G20 nations, was highlighted by Julia Simpson, president and CEO of WTTC, at a media briefing on Thursday.

Last year, the biggest source markets for inbound tourism in India were Bangladesh (12 percent), U.S. (7 percent), UK (5 percent), Sri Lanka