Tourism Industry in India:

The Indian tourism industry is one of the fastest growing industries in the country.  India represents one of the most potential tourism markets in the world. World Travel & Tourism Council, in its projection covering 174 countries, has predicted an annual growth rate of 8.8% over the next decade for India, the highest in the world. The target is to reach a figure of 10 million tourist arrivals by the year 2010.

PROSPECTS OF INDIAN TOURISM:

• India is expected to see an influx of 10 Million international tourists by 2010, up from just 5 Million in 2007. 
  
• Presently, the Indian tourism industry stands at about $16 Billion and is likely to reach nearly $26 Billion by 2010 and $ 42.8 billion by 2017, an estimated 42% increase from 2007. India is expected to grow faster in travel and tourism than any other destination in the world between 2009 – 2018.            Source: Report by Deloitte Touche and observations of WTTC
• Outbound tourism is expected to rise at a CAGR of 13.30% from 2008 to 2012 due to rising personal disposable income of the Indians.

• The foreign exchange earnings increased to estimated 11620 US $ million in 2007 registering an increase of 30.1% over the previous year.

• India has been promoting its healthcare tourism by providing the visitors with private healthcare facilities. It is expected that the total market for medical tourism will reach US$ 2 Billion by 2012, representing a CAGR of 60.69%.

Some Key Facts:

• Conde Nast Traveller UK, the world’s leading travel and tourism journal has ranked India as the Number 1 preferred holiday destination of the world.
• TTG Asia Travel Group has chosen India as the Destination of the Year in the 18th TTG Travel Awards 2007.
• Lonely Planet has selected India amongst the top 5 destinations, in a survey of 167 countries.
• ABTA (Association of British Travel Agents) had ranked India as No. 1 amongst top 50 places for 2006.

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