Tourism and Hospitality

Tourism and Hospitality

  • The tourism and hospitality industry is one of the largest segments under the services sector of the Indian economy. 
  • In India, the sector's direct contribution to gross domestic product (GDP) is expected to grow at 7.8% per annum during the period 2013-2023.
  • The total market size of the tourism and hospitality industry in India stood at $117.7 billion in 2011 and is anticipated to touch $418.9 billion by 2022.
  • Foreign exchange earnings (FEE) during January-June 2014 stood at $9.44 billion, as compared to FEEs of $8.58 billion during the same period last year, registering a growth of 17.9%.
  • The foreign direct investment (FDI) inflows in hotel and tourism sector during the period April 2000–March 2014 stood at $7,348.09 million, as per the data released by Department of Industrial Policy and Promotion (DIPP).
  • The hospitality sector in India expects 52,000 new hotel rooms to be added in five years (2013-17), according to a survey by Cushman & Wakefield. This will lead to a rise of over 65% in total hotel inventory in India.