Industry Analysis Vittarth

Tourism Industry

The Indian Tourism & Hospitality Industry has emerged as one of the key drivers of growth among the Service Sector in India. The World Travel and Tourism Council calculated that tourism generated ₹16.91 lakh crore (US$240 billion) or 9.2% of India’s GDP in 2018 and it is predicted to grow at an annual rate of 6.9% to ₹32.05 lakh crore by 2028.
But due to the ongoing pandemic and travel restrictions have brought the entire Tourism Industry to a standstill. With restrictions on travel, it will also impact inflow of foreign tourists which means a drastic fall in foreign exchange earnings which was close to ₹2,10,981 Crore in Q1-Q3, 2019.
So here we present our analysis on Tourism Industry.

Credits: Aditya SrivastavaTanvi PalejaAayushi Bhatt

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