According to he World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR), India’s Travel & Tourism sector is in strong recovery mode and will touch the pre-pandemic peak this year.
Speaking today to Ministers at the G20 Summit in India, Julia Simpson, WTTC President & CEO, highlighted the sector’s resilience, growing at twice the rate of GDP not only in India, but across all G20 nations.
WTTC research forecasts Travel & Tourism contributing INR 16.5 to the Indian economy this year, just 3.5% below 2019. The sector is forecast to create over 1.6 mn more jobs this year, recovering almost all of the jobs lost due to the COVID-19 pandemic to reach almost 39 mn, with around one in 13 workers in India in the Travel & Tourism sector.
Julia Simpson, WTTC President & CEO, said: “The G20 Presidency provides India with the opportunity to highlight the economic and social value of Travel & Tourism, at a critical moment for the global economy. Minister Reddy has shown great leadership, rallying the G20 Ministers under the Goa Roadmap, showing the world that Travel & Tourism boosts economies whilst meeting the UN Sustainable Development Goals. Travel & Tourism creates great job opportunities, providing exciting career opportunities for young people to be part of sustainable tourism under Travel for Life."
The global tourism body is forecasting that the sector will grow its GDP contribution to INR 36.8 tn by 2033, approximately 7% of the Indian economy and will employ over 58.2 mn people across the country, with one in 10 working in the sector.
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