Tourism GDP contribution set to account for 12.5% of the country’s economy

The 2024 Economic Impact Research (EIR) findings of the World Travel & Tourism Council (WTTC) has revealed the Türkiye’s travel and tourism sector broke all records last year by reaching new milestones across four key metrics. In 2023, the sector contributed TRY 3.11TN to the economy, accounting for 12% of total GDP. This is an almost 30% increase from the previous peak in 2019. It also supported more than 3.2 MN jobs, representing one in 10 jobs across the country, and more than 18% above the 2019 high point. The international visitor spending surpassed its 2019 record by almost 36% while the domestic visitor spending broke its previous record set in 2018, by almost 24 per cent. The Federation of Associations in Indian Tourism and Hospitality (FAITH) has envisaged that the country's tourism sector had the potential to be transformed by 2047 into a $3 trillion economy capable of generating 200 million jobs, with over 100 million foreign tourist arrivals and over 20 billion domestic tourists. The Indian travel industry estimates that approximately 200 tourism related products provide 80 per cent of the business. There is a need to enhance connectivity and facilities at tourist destinations, by way of better roads, airports and public amenities to provide seamless travel and showcase India as an important travel destination.

The United States has been named the world’s best country for travel and tourism in 2024 by the World Economic Forum (WEF). For 2024, six countries France, Germany, Italy, Japan, Singapore and Spain are among the top. The rankings are determined by broad criteria, including infrastructure, natural resources, sustainability, labour availability and competitive pricing. Another thing to keep in mind is that the WEF data focuses on tourism – the business of hotels, airports, attractions, airlines and not just what it’s like to be a traveller on the ground. For 2024, six countries share the number one ranking among the world’s most powerful passports– France, Germany, Italy, Japan, Singapore and Spain. Five of them appear in the WEF’s top 10, with Singapore at a respectable 13th. India’s online visa process needs an urgent review in order to attract more international tourists. Entry and exit from India, safety and security of travellers, road, rail and air travel infrastructure, and health and hygiene have to add up to make 'Incredible India' a seamless travel experience.

India's ranking in the World Economic Forum's Travel and Tourism Development Index has improved to 39 in 2024, from 54 in 2021. While our natural, cultural and non-leisure resources are ranked in the top 10, India must endeavour to be among the top 10 on the index by 2030. The ranking is based on five dimensions, 17 pillars and 102 indicators, and we must focus on each of these to create a world-class tourism experience. Skill development, capacity building, digital transformation, leveraging technology and focused master plans for niche tourism segments, such as adventure, MICE, wellness, cruise, heritage, wildlife, medical and special interest tourism, are critical. Streamlining and simplifying regulatory processes at the national and state levels will significantly enhance the ease of doing business, ensure policy consistency and easier access to finance and create a supportive ecosystem for tourism.