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The Indian tourism sector witnessed a strong revival in 2023, with foreign travel arrivals (FTAs) soaring by 43 per cent when compared to the previous year, the Economic Survey 2023-24 pointed out.
“Showing positive signs of revival post-pandemic, the industry witnessed over 92 lakh foreign tourist arrivals in 2023, implying a year-on-year (Y-o-Y) increase of 43.5 per cent,” the survey said.
The tourism sector in India is rapidly expanding, with India ranked at the 39th position in the World Economic Forum's Travel and Tourism Development Index (TTDI) 2024.
“India has significantly earned foreign exchange receipts amounting to over ₹2.3trillion through tourism, indicating a 65.7 per cent Y-o-Y increase,” it further said.
In response to this strong revival, the hospitality industry has risen to meet the increasing number of tourists’ needs and to elevate the overall guest experience, the survey pointed out.
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The year 2023 saw the highest amount of new supply being created, with the addition of 14,000 rooms, bringing the total inventory of chain-affiliated rooms to 183,000 in the country.
Further, the average daily rate increased from Rs 6,704 to Rs 7,616, marking a Y-o-Y growth of 13.6 per cent in FY24.
The survey noted that the Indian travel and tourism sector has been influenced by global inflationary pressures and delays in recovery, similar to other economies. However, the 0.7 per cent decline in price competitiveness since 2021 has been minimal compared to peers.
Elaborating on the challenges posed by artificial intelligence (AI) and the sector’s potential for job creation, the survey cited a report by Capital Economics, which argues that AI could lead to a slowing down of India’s services export growth, cutting it by 0.3- 0.4 percentage points a year over the next decade.
“This only underscores the importance of the relatively less skill dependent tourism sector for employment generation. Therefore, public policy should pay particular attention to boosting the tourism sector. Governments at all levels and the private sector must work together to realise the sector’s potential,” it pointed out.
To help formalise employment in the sector, the Ministry of Tourism initiated the Incredible India Tourism Facilitator Certificate Programme, which aims to create a skilled cadre of tourist facilitators nationwide through a digital platform that offers online learning opportunities and certification courses, it added.
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