India's tourism and hospitality sector, known as the "sunrise industry," significantly fuels the nation's economy through foreign exchange earnings and overall economic development. Despite pandemic challenges, the industry displayed resilience, marking a noteworthy recovery in its GDP contribution in 2021. India provides diverse tourism experiences, from spiritual and adventure to wellness, catering to a wide range of travelers. Domestic tourism thrives, buoyed by a burgeoning middle class and user-friendly digital travel tools. While international tourism faced hurdles during the pandemic, domestic tourism remained steadfast. Looking ahead, the expenditure of domestic tourists is poised to play a substantial role in the industry's future sustainability and growth. Read to find out more.
Highlights from the report also featured in the Economic Times on August 20, 2023.