Travel and tourism industry's contributes

A new report by the World Travel and Tourism Council suggests that the travel and tourism industry in India would see an above-average development in 2014. The yearly economic impact report for India 2014 reveals that the economic contribution of travel and tourism industry would see a 7.3 percent increase, outdoing the country’s general economy by 2.5 points.

Profits garnered from domestic travel and tourism increased by 5.1 percent last year and it is expected to go up by 8.2 percent this year. The amount of money that overseas visitors spent in India increased by 6.2 percent last year but the recent forecast suggests that it would go down to 2.9 percent growth rate this year.

World Travel and Tourism Council’s chief executive officer and President David Scowsill told that inbound tourism is continuing to increase both in terms of international tourist arrivals as well as international tourism receipts. But the domestic market would see particularly strong development this year this year with more investment and more Indians travelling.

Meanwhile, the Government of India has declared that it would extend visa on arrival as well as electronic travel authorization for travelers from 180 nations and to speed up the application process for those still requiring a paper visa. It plans to issue visa in 3 days in such instances.

Last year, the travel and tourism industry chipped in Rs 63160 crore to the country’s economy and it generated thirty five million jobs.