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Time of India
a day ago
- Business
- Time of India
India's Tourism Sector Surges: $3.1 Trillion in International Spending Reported by WTTC, ET TravelWorld
Advt Advt Travel jobs set to surpass 370 million worldwide: WTTC The World Travel & Tourism Council (WTTC) projects international visitor spending will hit a record USD2.1 trillion in 2025, signalling continued global growth despite economic headwinds. The sector is expected to contribute USD11.7 trillion to global GDP and support 371 million jobs. However, recovery remains uneven across regions, with markets like the US and China showing slower growth compared to surging destinations such as Saudi Arabia, France, and Spain. See More Details By , ETTravelWorld Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETTravelWorld App Get Realtime updates Save your favourite articles Scan to download App In a landmark rebound for India's travel and tourism sector, the World Travel & Tourism Council (WTTC) has revealed that international visitor spending in India soared to an all-time high of ₹3.1 trillion in 2024 — a 9% increase over pre-pandemic levels in 2019. This record-breaking surge not only reaffirms India's position as a top global destination but also signals a turning point in the country's tourism recovery, once heavily reliant on domestic years of pandemic-induced disruption, the latest WTTC Economic Impact Research (EIR) shows a robust return of international travel. India welcomed 20 million foreign tourists in 2024, surpassing 2019 figures by 2.3 million. With visitor spending reaching ₹3.1 trillion (USD 36.8 billion), up from ₹2.8 trillion in 2019, this influx highlights rising global confidence in India's travel ecosystem and the diverse appeal of its destinations — from spiritual and wellness tourism to luxury and experiential for 2025 are even stronger, with international visitor spending expected to touch ₹3.2 trillion, bolstered by increasing air connectivity, digital visa systems, and rising global interest in India's heritage and natural international arrivals make headlines, domestic tourism continues to be the pillar of India's travel economy. In 2024, domestic visitor spending hit a staggering ₹15.5 trillion (USD 185.6 billion), 22% higher than 2019 levels. This growth is expected to rise further to ₹16.8 trillion in 2025, driven by younger demographics, increased disposable incomes, and a stronger post-pandemic preference for local to the report, domestic tourists contributed nearly 84% of the total visitor spending in 2024, underscoring their foundational role in the country's tourism total Travel & Tourism GDP contribution in 2024 stood at ₹20.9 trillion (USD 249.3 billion), a 20% jump over 2019, accounting for approximately 6.6% of the national economy. WTTC forecasts a further rise to ₹22.5 trillion (USD 268.7 billion) in 2025. By 2035, the sector is expected to nearly double to ₹41.9 trillion (USD 501.1 billion), contributing an estimated 10.9% to the national growth trajectories are expected to be powered by both tourism-driven infrastructure projects — including smart mobility, high-speed rail, and airport expansions — and the rise of small and medium tourism also emerged as a crucial employment generator, supporting a record 46.5 million jobs in 2024 — 9.1% of total employment in India. WTTC anticipates this figure to surpass 48 million in 2025 and climb to nearly 64 million by job creation comes at a time when automation and AI are altering traditional employment landscapes. The tourism sector, which demands human-centric services, thus offers significant employment opportunities across demographics and geographies.A noteworthy insight from the WTTC report is the revival of business travel. India's combined domestic and international business travel spending in 2024 hit ₹1.1 trillion — exceeding 2019 levels by 2.6%. As India continues to be a hub for global trade, innovation, and startup activity, this segment is expected to play an increasingly important role in travel these encouraging trends, WTTC has raised concerns over recent reductions in government funding for overseas tourism promotion. Julia Simpson , President & CEO of WTTC, called for renewed policy attention.'India's Travel & Tourism sector is experiencing unprecedented growth… but visa delays and underinvestment in promotion could hinder long-term momentum," she especially highlighted the need for simplification of India's e-visa and visa-on-arrival processes, pointing to prolonged delays in markets like the US, where appointments remain unavailable until it easier to visit India is one of the fastest ways to unlock further international arrivals and spending,' she bolster advocacy and streamline tourism policies, WTTC has signed a Memorandum of Understanding (MoU) with the World Travel & Tourism Council – India Initiative (WTTCII). The partnership is designed to enhance India's global tourism voice by combining WTTC's international influence with WTTCII's domestic collaboration will focus on aligning India's tourism priorities with international benchmarks, strengthening sustainability practices, and building a unified policy framework to support the sector's rapid India projected to become one of the world's top three tourism economies by 2035, the WTTC report paints a hopeful picture. The combination of rising domestic demand, record-setting international arrivals, and strategic industry-government partnerships places India at a unique vantage point in global sustaining this growth will require targeted investment in tourism infrastructure, tech-enabled services, and global marketing — areas that will determine whether India can fully realise its ambition of being a tourism powerhouse in the years to come.
Time of India
2 days ago
- Business
- Time of India
Tourism hits Rs 22 lakh crore runway — India's travel boom ready for takeoff
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Services 1. India's international visitor spend soars to record highs: WTTC The World Travel & Tourism Council (WTTC) is forecasting a 'record-breaking' year for India's travel and tourism sector this year, with its economic contribution set to reach over '22 lakh crore in 2025, whilst employment in the sector is expected to reach more than 48 visitor spending is expected to reach '3.2 lakh crore, whilst spending from domestic travellers is set to hit '16 lakh stated that by 2035, travel and tourism's contribution to the economy is forecast to almost double, at just under '42 lakh crore, with the sector employing almost 64 million released on Tuesday from WTTC showed that international visitor spends in India reached a record '3.1 lakh crore in 2024, 9% above the previous peak of to WTTC's latest Economic Impact Research (EIR), while domestic travel has remained a 'vital force', with spending soaring to '15.5 lakh crore, (22% above 2019 levels), the revival of international tourism is now propelling the sector into a 'bold' new era of and tourism contributed almost '21 lakh crore to the Indian economy last year, 20% more than 2019 sector also supported an all-time high of almost 46.5 million jobs, equivalent to 9.1% of total employment across country also welcomed 20 million international visitors in 2024, 2.3 million more than while overall international visitor numbers went up considerably last year, as per WTTC research, the numbers and the growth, compared to pre pandemic levels, seem to have been driven considerably by visits by non-resident Indians. As per data released by the ministry of tourism, India received more than 9.65 million foreign tourists in calendar year 2024, rising 1.4% from 9.52 million in 2023 but declining 11.6% from 10.93 million in said it calls for continued investment and targeted policy support, and would urge the government to reconsider its recent decision to reduce funding for overseas tourism promotion."India's travel & tourism sector is experiencing unprecedented growth, with international visitor numbers now at record highs after a period of strong domestic reliance. We strongly support the government's plans to simplify the e-visa process. Making it easier to visit India is one of the fastest ways to unlock further international arrivals and spending," said Julia Simpson, president and CEO, WTTC. "While visa on arrival and e-visa systems are in place, reciprocal policies and long delays for key markets like the US, where appointments are reportedly unavailable until 2026 continue to hinder tourists," she global tourism body's research also reveals India's business travel is experiencing record growth, with combined domestic and international spending hitting '1.1 lakh crore last year, surpassing the 2019 peak by 2.6%.The council said India is 'well-placed' to become one of the world's most dynamic tourism economies, with its dynamic mix of heritage, natural beauty, and modern innovation, and that it calls on the government to match the sector's resilience and ambition with 'clear', 'consistent' policy support.
Economic Times
2 days ago
- Business
- Economic Times
India's international visitor spend soars to record highs: WTTC
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The World Travel & Tourism Council ( WTTC ) is forecasting a 'record-breaking' year for India 's travel and tourism sector this year, with its economic contribution set to reach over Rs 22 trillion in 2025, whilst employment in the sector is expected to reach more than 48 visitor spend is expected to reach Rs 3.2 trillion, whilst spending from domestic travellers is set to hit Rs 16 stated by 2035, travel and tourism's contribution to the national economy is forecast to almost double, to reach just under Rs 42 trillion, with the sector employing almost 64 million released Tuesday from the World Travel & Tourism Council (WTTC) released Tuesday stated that international visitor spends in India reached a record Rs 3.1 trillion in 2024, 9% above the previous peak of to WTTC's latest Economic Impact Research (EIR), while domestic travel has remained a 'vital force', with spending soaring to Rs 15.5 trillion, (22% above 2019 levels), the revival of international tourism is now propelling the sector into a 'bold' new era of and tourism contributed almost Rs 21 trillion to the Indian economy last year, 20% ahead of 2019 sector also supported an all-time high of almost 46.5 million jobs, equivalent to 9.1% of total employment across country also welcomed 20 million international visitors in 2024 - 2.3 million more than while overall international visitor numbers went up considerably last year, as per WTTC research, the numbers and the growth compared to pre pandemic levels seems to have been driven considerably by visits by non-resident per data released by the ministry of tourism, India received more than 9.65 million foreign tourists in calendar year 2024, rising 1.4% from 9.52 million in 2023 but declining 11.6% from 10.93 million in said it calls for continued investment and targeted policy support, and would urge the government to reconsider its recent decision to reduce funding for overseas tourism promotion.'India's Travel & Tourism sector is experiencing unprecedented growth, with international visitor numbers now at record highs after a period of strong domestic reliance. We strongly support the government's plans to simplify the e-visa process. Making it easier to visit India is one of the fastest ways to unlock further international arrivals and spending,' said Julia Simpson, WTTC President and CEO. "While visa on arrival and e visa systems are in place, reciprocal policies and long delays for key markets like the US, where appointments are reportedly unavailable until 2026 continue to hinder tourists," she global tourism body's research also reveals India's business travel is experiencing record growth, with combined domestic and international spending hitting Rs 1.1 trillion last year, surpassing the 2019 peak by 2.6%.The council said India is 'well-placed' to become one of the world's most dynamic tourism economies, with its dynamic mix of heritage, natural beauty, and modern innovation, and that it calls on the government to match the sector's resilience and ambition with 'clear', 'consistent' policy support.
Time of India
2 days ago
- Business
- Time of India
India's international visitor spend soars to record highs: WTTC
India's travel and tourism anticipates unprecedented growth. The sector's economic contribution may reach Rs 22 trillion in 2025. It is expected to generate over 48 million jobs. International visitor spending could hit Rs 3.2 trillion. Domestic travel remains strong, propelling the sector forward. The government is urged to simplify e-visa processes. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The World Travel & Tourism Council ( WTTC ) is forecasting a 'record-breaking' year for India 's travel and tourism sector this year, with its economic contribution set to reach over Rs 22 trillion in 2025, whilst employment in the sector is expected to reach more than 48 visitor spend is expected to reach Rs 3.2 trillion, whilst spending from domestic travellers is set to hit Rs 16 stated by 2035, travel and tourism's contribution to the national economy is forecast to almost double, to reach just under Rs 42 trillion, with the sector employing almost 64 million released Tuesday from the World Travel & Tourism Council (WTTC) released Tuesday stated that international visitor spends in India reached a record Rs 3.1 trillion in 2024, 9% above the previous peak of to WTTC's latest Economic Impact Research (EIR), while domestic travel has remained a 'vital force', with spending soaring to Rs 15.5 trillion, (22% above 2019 levels), the revival of international tourism is now propelling the sector into a 'bold' new era of and tourism contributed almost Rs 21 trillion to the Indian economy last year, 20% ahead of 2019 sector also supported an all-time high of almost 46.5 million jobs, equivalent to 9.1% of total employment across country also welcomed 20 million international visitors in 2024 - 2.3 million more than while overall international visitor numbers went up considerably last year, as per WTTC research, the numbers and the growth compared to pre pandemic levels seems to have been driven considerably by visits by non-resident per data released by the ministry of tourism, India received more than 9.65 million foreign tourists in calendar year 2024, rising 1.4% from 9.52 million in 2023 but declining 11.6% from 10.93 million in said it calls for continued investment and targeted policy support, and would urge the government to reconsider its recent decision to reduce funding for overseas tourism promotion.'India's Travel & Tourism sector is experiencing unprecedented growth, with international visitor numbers now at record highs after a period of strong domestic reliance. We strongly support the government's plans to simplify the e-visa process. Making it easier to visit India is one of the fastest ways to unlock further international arrivals and spending,' said Julia Simpson, WTTC President and CEO. "While visa on arrival and e visa systems are in place, reciprocal policies and long delays for key markets like the US, where appointments are reportedly unavailable until 2026 continue to hinder tourists," she global tourism body's research also reveals India's business travel is experiencing record growth, with combined domestic and international spending hitting Rs 1.1 trillion last year, surpassing the 2019 peak by 2.6%.The council said India is 'well-placed' to become one of the world's most dynamic tourism economies, with its dynamic mix of heritage, natural beauty, and modern innovation, and that it calls on the government to match the sector's resilience and ambition with 'clear', 'consistent' policy support.
Mint
28-05-2025
- Business
- Mint
Reliance Infra, Va Tech Wabag among 18 micro-cap stocks that surged up to 24% in a week amid stock market volatility
Microcap stocks in focus: Shares of Va Tech Wabag, Reliance Infrastructure, Refex Industries, Gopal Snacks, Prince Pipes & Fittings, Subros, and Neogen Chemicals are among 18 micro-cap stocks that defied market volatility to deliver double-digit gains over the past week. Despite the back-and-forth movement in frontline indices amid global headwinds—including rising trade tensions, US fiscal concerns, and higher bond yields—as well as positive domestic tailwinds such as reports of India becoming the fourth-largest economy, the RBI's bumper dividend, and a steady rise in the rupee, several often-overlooked micro-cap stocks have managed to shine amid ongoing market volatility. These stocks span sectors such as pharma, FMCG, industrials, utilities, chemicals & petrochemicals, and fertilisers. Some counters witnessed a spike in demand following the release of their March quarter results, while others rallied on the back of recent order wins and value buying at lower levels. The Nifty Microcap 250 index rose 2.33% over the past week and 9% over the past month, outperforming the Nifty 50, which gained 0.30% and 3% during the same periods. Shilpa Medicare's stock surged 24.3% over the past week, pushing its May gains to 36%, the highest monthly rise since February 2020. The rally is driven by multiple positive developments, including its subsidiary Shilpa Pharma Lifesciences receiving an EIR from the USFDA and its biologics arm obtaining European GMP certification for its Dharwad facility, with zero inspection observations. Dishman Carbogen Amcis is another stock from the pharma pack that maintained a steady upward trajectory, gaining 22.2% in a week. Enviro Infra Engineers' shares also jumped 20%, while those of Prince Pipes & Fittings, Sequent Scientific, Gopal Snacks, and Refex Industries delivered returns of up to 14%. Stock Name Returns in last one week Shilpa Medicare 24% Dishman Carbogen Amics 22.2% Enviro Infra Engineers 20% Prince Pipes & Fittings 17.3% Sequent Scientific 15.8% Gopal Snacks 14.4% Refex Industries 13.8% Va Tech Wabag 12.9% Subros 12% Venus Pipes & Tubes 11.9% Reliance Infrastructure 11.7% ITD Cementation India 11.4% ISGEC Heavy Engineering 10.8% Kaveri Seed Company 10.3% Neogen Chemicals 10.1% Transrail Lighting 10.1% India Glycols 10% Lloyds Enterprises 10% Source: Trendlyne On the back of steady order wins, coupled with a healthy performance in the March quarter, Va Tech Wabag's share price jumped 13% in a week. The Indian water treatment company has secured new orders worth roughly ₹ 57 billion this year, increasing its order book to around ₹ 137 billion, including framework agreements. Likewise, Reliance Infrastructure's share price also surged 12%. The company-promoted Reliance Defence and Düsseldorf-based Rheinmetall AG entered into a strategic partnership in the field of ammunition on May 22. This marks the third major partnership for Reliance Defence, following its successful strategic alliances with Dassault Aviation and the Thales Group of France, the company said in its May 23 press release. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said the market is likely to consolidate around current levels in the near term. With mutual funds holding sizeable cash reserves, any dip is expected to be bought into, while high valuations may lead to selling on rallies. He noted that a sustained rally will only occur once leading indicators point to a revival in earnings growth, which may take some time. Vijayakumar also highlighted a slow accumulation in rate-sensitive sectors like autos, driven by expectations of further rate cuts amid declining inflation. Additionally, he pointed out that investors are now staying invested through SIPs for longer periods than before, which is expected to provide underlying support to the market. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
