28/03/2015
reforms to give 7.5% boost to in #2015
Buoyed by visa reforms the Indian tourism industry will grow by 7.5% in 2015, according to World Travel & Tourism Council (WTTC). In 2014, the industry contributed Rs 764,200 crore and 36.7 million jobs to the Indian economy. Research released by World Travel & Tourism Council (WTTC) forecasts that the industry’s GDP contribution will grow by 7.5% and employment by 1.8% this year. “This demonstrates the sector’s enduring ability to generate economic growth and create jobs at a faster rate than the national economy, which is due to grow by 6.7% in 2015,” the report says. By the end of 2015, the travel & tourism sector will contribute Rs 821,500 crore, 7% of India’s GDP, and 37.4 million jobs, almost 9% of total employment, once all direct, indirect and induced impacts are taken into account.
“The strong increase in the size of the travel and tourism industry in India is fueled by visa reforms introduced in November 2014, which expanded the visa-on-arrival (VOA) scheme to 43 nationalities. Visitors from those countries no longer have to queue up at local consulates but can instead apply for visas online,” the report reveals. WTTC president and CEO David Scowsill says, “India is one of the biggest travel and tourism economies in the world contributing significantly to economic wealth and job creation. Much needed reforms to its visas rules will provide the foundation for very strong growth in the sector during 2015.”