Latest news with #TravelandTourismDevelopmentIndex
Euronews
2 days ago
- Business
- Euronews
Kazakhstan aims to turn tourism into a €10 billion business by 2029
Kazakhstan wants to welcome more tourists and climb the ranks in the World Economic Forum's Travel and Tourism Development Index. With plans to draw in 15 million annual visitors and add €3 billion to the sector's economic output – for a total of €10 billion by 2029 – the government is addressing infrastructure, expanding rail systems, and introducing innovative digital solutions. A new AI-powered super app will streamline bookings and navigation. Unique destinations like Baikonur Cosmodrome are being developed with glamping sites, hotels, and children's camps. A new airport will provide access to Katon Karagay National Park, while improved cross-border rail with onboard border checks is making travel to Central Asia's top sites more seamless and tourist-friendly.
Mint
2 days ago
- Business
- Mint
Tariff-blow cushion: A tourism boom could offset India's export adversity
As India grapples with the adverse fallout on its economy of higher tariffs on exports to the US, steeper barriers elsewhere and global supply-chain dislocations, one cushion that is seldom padded up to absorb a foreign-exchange shock lies in plain sight: tourism. With US tariffs expected to average close to 18%, the highest since 1934, we must brace for their impact on our export income. The US is our largest trade partner. Also read: India's tourism boom: Sector to double to ₹42 trillion by 2035, driven mainly by domestic travel, says WTTC According to commerce ministry data, our merchandise exports to the US stood at $86.5 billion in 2024-25, as against $77.5 billion the previous year. Service exports are unlikely to suffer, but overall forex earnings could soon take a blow, even if we somehow seal a trade deal with the US. Yes, capital inflows are holding up for now, thanks to portfolio investors, but it is not for nothing that it's called 'hot money': easy come, easy go. Meanwhile, net foreign direct investment dropped below $1 billion in 2024-25 as overseas investments by Indian corporates surged and foreign businesses repatriated more. It is thus imperative that we look for other avenues to earn hard currency. India's tourism sector offers the best of both worlds: A steady source of forex earnings and, better still, mass employment in an inescapably labour-intensive sector. As estimated by the government, it created 76 million jobs over the decade since mid-2014. Many of these roles are not at risk of an AI takeover. Domestic travel has been an expansionary force, no doubt, but on international arrivals, India lags many smaller countries on the itineraries of globe-trotters. Even within Asia, a big draw, our industry punches below the country's weight. Ironically, our ancient civilization has so much more to offer than many rival destinations and to almost every class of tourists. From budget visitors to uber-rich holidayers and from religious arrivals to medical guests, India has something to offer almost everyone, with its diverse climatic regions and natural beauty only part of the appeal. Also read: Foreign tourists return to Taj Mahal, but India's international tourism still trails Yet, we have not been able to capitalize on these advantages for reasons that are not only preventable, but of our own making. High hotel taxes, differential tariffs for Indian and foreign guests, harassment of women around tourist sites, poor infrastructure, untrustworthy service agents and weak law-and-order are just a few commonly cited deterrents. As the government's India Tourism Data Compendium for 2024 notes, although international tourist arrivals rebounded to their pre-pandemic level in 2023, the country accounts for just 1.5% of total overseas arrivals and 2.1% of worldwide tourism receipts. The result is that we rank a lowly 39th on the World Economic Forum's Travel and Tourism Development Index of 2024, having fallen 10 places since 2019. If India is to elevate its tourist experience and overturn the image of a country where it is unsafe for women to travel alone, we need to move fast on all fronts. Today, the tourism sector is estimated to contribute only around one-twentieth of GDP. Contrast this with Thailand's one-fifth and China's one-tenth. We already have an example within India of how tourism can transform an economy. Also read: Mint Explainer | Will Trump's tariff war push India closer to Russia and China? Kerala, a state that has not been able to attract much corporate investment, has reaped rich dividends from this sector, which now chalks up 12% of the state's GDP. If we move swiftly to capitalize on the advantage conferred by nature's bounty and our rich heritage, gains from tourism could outweigh any losses from an export slowdown.
Indian Express
15-07-2025
- Business
- Indian Express
India among top 10 global tourism economies in 2024–25: What UPSC aspirants must know
Take a look at the essential events, concepts, terms, quotes, or phenomena every day and brush up your knowledge. Here's your UPSC current affairs knowledge nugget for today on WTTC's 2024 Economic Impact Trends Report and Travel and Tourism Development Index (TTDI) 2024. (Relevance: UPSC frequently asks questions on reports and indices. The key takeaways from these reports are also essential fodder for your Mains examination for intricate points. In 2012, a question was asked in relation to the Multidimensional Poverty Index; in 2019, the question appeared on the Global Competitiveness Report. Therefore, it becomes important to know about the indices and reports that are in the news.) Amid a strong post-pandemic recovery and despite various challenges, the global travel and tourism sector contributed US$10.9 trillion to the world economy in 2023, according to the World Travel & Tourism Council (WTTC). The WTTC's 2024 Economic Impact Trends Report shows the industry on an upward trajectory, with the World Economic Forum (WEF) forecasting the sector to hit $16 trillion by 2034, representing over 11 per cent of global GDP. In this context, let's know where India stands globally in terms of tourism economy and highlights of the Travel and Tourism Development Index (TTDI) 2024. 1. As per the WTTC, the United States remains the world's largest tourism economy in 2024, contributing an unprecedented $2.36 trillion, nearly double that of its closest competitor. China ranks second with $1.3 trillion, and is projected to become the global leader within the next decade. 2. While established players like Germany, the United Kingdom, France, Italy, and Spain continue to hold strong positions in the top 10, Asian economies such as Hong Kong SAR, Malaysia, and the Philippines are fast emerging as regional tourism powerhouses. Japan, notably, climbs to fourth place with a $297 billion contribution. Source: WTTC Economic Impact Research (EIR) 3. India has also made notable progress, now ranking as the eighth-largest tourism economy worldwide with a contribution of $231.6 billion, up from its previous position of tenth. This advancement highlights the country's increasing significance in the sector, with the WTTC forecasting a rise to fourth position within the next decade. 4. Several countries have also seen significant jumps in international tourism spending compared to pre-pandemic levels. These include Saudi Arabia (+91.3 per cent), Türkiye (+38.2 per cent), Kenya (+33.3 per cent), Colombia (+29.1 per cent), and Egypt (+22.9 per cent). Having known the key highlights of WTTC's 2024 Economic Impact Trends Report, let's now learn the key takeaways of a significant global travel and tourism index. 1. The Travel & Tourism Development Index (TTDI) 2024, released by the WEF, is the second edition of an index that evolved from the Travel & Tourism Competitiveness Index (TTCI) series, a flagship index of the WEF that has been in production since 2007. 2. According to WEF's official site, 'The TTDI is part of the Forum's broader work with industry and government stakeholders to build a more sustainable, inclusive, and resilient future for economies and local communities.' 3. The TTDI is a biennial index. It measures the set of factors and policies that enable the sustainable and resilient development of the T&T sector, which in turn contributes to the development of a country. 4. In TTDI 2024, among the 119 countries, the US topped the list. After the US, Spain, Japan, France and Australia figure among the top five in the 2024 list. High-income economies in Europe and Asia-Pacific continued to lead the index. Source: World Economic Forum, compiled by the United Nations World Tourism Organisation. 5. Notably, in Southeast Asia, India ranks 39th as the TTDI's top lower-middle-income economy. It was ranked 54th in the previously published index in 2021. 6. The index, prepared in collaboration with the University of Surrey, showed India is highly price-competitive (18th) and boasts competitive Air Transport (26th) and Ground and Port (25th) infrastructure. 7. In particular, India's strong Natural (6th), Cultural (9th) and Non-Leisure (9th) Resources help drive travel, and the country is only one of three to score in the top 10 for all the resource pillars, the WEF said. 1. The Swadesh Darshan Scheme was launched by the Centre in 2014-15 for the integrated development of theme-based tourist circuits. Under the scheme, the Ministry of Tourism provides financial assistance to states and Union territories for the development of tourism infrastructure. 2. Prominent circuits launched under the scheme included Buddhist Circuit, North-East Circuit, Ramayana Circuit, Wildlife Circuit, Rural Circuit etc. However, the scheme could not take off in a way it was expected to, mainly because resources had to be distributed and spread across several states, with too many stakeholders being involved. 3. Therefore, Swadesh Darshan 2.0, focussing on one destination at a time, to attract domestic tourists, was conceptualised. 4. According to the official site of Swadesh Darshan 2.0, 'With the mantra of 'vocal for local', the revamped scheme, namely Swadesh Darshan 2.0, seeks to attain 'Aatmanirbhar Bharat' by realising India's full potential as a tourism destination. Swadesh Darshan 2.0 is a generational shift to evolve the Swadesh Darshan Scheme as a holistic mission to develop sustainable and responsible tourism destinations covering tourism and allied infrastructure, tourism services, human capital development, destination management and promotion backed by policy and institutional reforms.' The Travel & Tourism Development Index 2024 is released by: (a) Economist Intelligence Unit (b) United Nations Development Programme (c) World Economic Forum (d) World Bank (Sources: World's top 10 biggest tourism economies in 2024–25: India breaks into top 10 at this rank, India's global travel and tourism index rank up at 39th: WEF index,Swadesh Darshan 2.0, Subscribe to our UPSC newsletter. Stay updated with the latest UPSC articles by joining our Telegram channel – Indian Express UPSC Hub, and follow us on Instagram and X. 🚨 Click Here to read the UPSC Essentials magazine for June 2025. Share your views and suggestions in the comment box or at
The Hindu
26-06-2025
- Business
- The Hindu
Twenty million international tourists expected in current fiscal year in India: Union Tourism Minister Gajendra Singh Shekhawat
Union Minister of Culture and Tourism Gajendra Singh Shekhawat on Thursday (June 26, 2025) said that 20 million international tourists are expected to visit the country in the current financial year as diversity becomes the core of India's tourism sector. Addressing the gathering after performing bhumi puja for the Godavari riverfront development project named 'Akhanda Godavari', on the banks of river Godavari in Rajamahendravaram on Thursday (June 26, 2025), Mr. Gajendra Singh has said: 'From the snow-laden Himalayas to sun-kissed beaches, from Yoga retreats to Sufi shrines, India offers a complete tourism ecosystem. Over the three years, India has moved up from 54th position to 39 on the World Economic Forum's Travel and Tourism Development Index.' 'At present, the country's tourism landscape is being reshaped with various flagship schemes such as Swadesh Darshan 2.0, PRASAD, Community Based Eco-Tourism and the projects being undertaken through these schemes are revitalising economies,' said Mr. Gajendra Singh. 'Tourism in India is no more about monuments and memories. It is about livelihoods and legacy,' asserted Mr. Gajendra Singh.
Muscat Daily
31-05-2025
- Business
- Muscat Daily
Unified governance framework for tourism in Oman soon
Muscat – Oman will implement an integrated governance framework for its heritage and tourism sectors by the end of 2025 aiming to align the planning and development efforts of ministries and governorates under a single system. The decision was announced following a four-day national workshop, titled 'Addressing the Challenges of Governance of Heritage and Tourism Development Management with Governorates', held from May 26 to 29. The event was organised by Ministry of Heritage and Tourism (MHT) in cooperation with Oman Vision 2040 Implementation Follow-up Unit. The proposed framework will focus on institutional coordination, clarifying roles and responsibilities, and preparing development plans at the governorate level. It also seeks to build consensus on land allocation for heritage and tourism projects while encouraging private sector and civil society involvement. Speaking at the conclusion of the workshop, H E Salim bin Mohammed al Mahrouqi, Minister of Heritage and Tourism, said the ministry is halfway towards meeting its targets, but the growing role of governorates demands enhanced coordination. 'The governorates have become integrated tourist destinations in their own right due to their heritage and tourism assets,' he stated. He called for a unified environment that supports joint efforts between government entities, particularly at the municipal level. H E Mahrouqi identified key challenges hindering sectoral development, including limited funding, inadequate infrastructure, centralised administrative processes and restricted local authority. He stressed the need to reduce bureaucracy and promote decentralisation. 'The ministry is committed to maintaining open channels of communication with governorates and municipal councils,' he added. 'Successes in the sector must be seen as collective achievements, not those of a single institution.' Participants discussed practical strategies to overcome governance obstacles and to support the goals of Oman Vision 2040. These include raising tourism's share of GDP to 5.3%, attracting RO12bn in investments, improving Oman's ranking to within top 40 in the World Economic Forum's Travel and Tourism Development Index, and achieving 80% satisfaction rate among tourists. Key discussion points included governance mechanisms, infrastructure needs, innovation in projects, sustainable development, and ensuring local economic benefits. Halima bint Rashid al Zaria, Chairperson of Authority for Small and Medium Enterprises Development ASMED urges stronger centre-governorate coordination for tourism growth Muscat – Halima bint Rashid al Zaria, Chairperson of Authority for Small and Medium Enterprises Development (ASMED), has called for closer coordination between central authorities and governorates to support tourism and heritage development across the sultanate. Speaking at a workshop organised by Ministry of Heritage and Tourism titled 'Addressing the Challenges of Governance of Heritage and Tourism Development Management with Governorates', Halima stressed the need for joint planning and a unified vision. 'Our work must be based on coordinated plans, not on emergency reactions,' she said, underlining the importance of strategic alignment between the central government and regional administrations. Halima noted that the effectiveness of ASMED's support depends on the clarity of development plans at the governorate level. 'The more governorates have a clear plan for initiatives and events, the more effective and prepared we can be as an institution.' She said a key challenge is the lack of shared annual planning among government entities. 'We submit our annual plan to the Council of Ministers early, and so do the governors, but these plans are rarely shared between us. Exchanging and harmonising plans at the beginning of each year will significantly accelerate achievement and improve responsiveness to local needs.'
