The Indian tourism industry has thre potential to grow by 2.5% on the back of higher Budgetary allocation and low-cost healthcare facilities, says a report.
The industry has tremendous potential to rise by 2.5%, provided the Budgetary allocation was enhanced from the current 0.09% of the total allocation to at least 0.15% in 2018-19, the study by Assocham and YES Bank said.
The study also proposed developmental interventions, including tourism infrastructure development and the emergence of tourism themes to upscale the industry.
The total contribution of travel and tourism to India’s GDP was $208.9 billion, 9.6% of GDP in 2016, and is forecast to rise by 6.7% in 2017 and 10% of GDP in 2027, according to the World Trade and Tourism Council.
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