Day 61 – Q 2.Do you think outward international tourism from India has increased substantially in recent years? Examine. What are its overall effects on Indian society?
क्या आपको लगता है कि हाल के वर्षों में भारत से बाहरी अंतरराष्ट्रीय पर्यटन में काफी वृद्धि हुई है? जांच करें। भारतीय समाज पर इसके समग्र प्रभाव क्या हैं?
According to OECD, Outbound tourism consumption comprises the consumption of resident visitors outside the economic territory of the country of reference and provided by non-residents. It does not include goods and services acquired for or after the trip within the country of reference.
Outward international tourism from India has increased
- India is now one of the fastest growing outbound tourism markets in the world, second only to China. The United Nations World Tourism Organization (UNWTO) estimates that India will account for 50 million outbound tourists by 2020.
- Despite the slowdown due to rupee fluctuations, the Indian outbound numbers have been growing at an average annual growth rate of 10-12 percent over the last seven years. The market for travel and tourism in India is expected to grow at a Compound Annual Growth Rate (CAGR) of around 7.23 percent during 2016-2021.
- A growing, consumption-driven economy, a large and increasingly affluent middle class, and the ongoing liberalization of air transportation have contributed significantly to this growth in international outbound travel.
- Additional interest in niche tourism sectors such as medical, wellness and adventure tourism has also contributed to this growth.
- Increased smartphone and internet penetration have also contributed to an increased number of online bookings.
- Indian spending outside the country while traveling abroad has doubled in the past 10 years, from $7.5 billion in 2005 to nearly $16 billion in 2015.
“India Outbound Meetings, Incentives, Conferences and Exhibitions (MICE) Tourism Market Report” Keyfindings:
- India is poised to be the world’s fastest growing outbound MICE tourism market
- India outbound tourism market is expected to exceed US$ 45 Billion by 2025
- India to generate more than 2 Million outbound MICE tourists by 2020
- India is the largest source market for Dubai and Singapore MICE Industry
- Indian MICE travellers likely to become major spenders in the United States and Dubai
Employment generation: Recognizing this immense potential in outbound travel from India, more than 70 National Tourist Organizations (NTOs) from around the world have set up local offices in India and are aggressively marketing their destinations.
SATTE (South Asia Travel and Tourism Expo) is India’s largest travel trade event, scheduled for January 8 – 10, 2020, in Greater Noida, Delhi (NCR). This show draws hundreds of travel agents.
Soft power: Increase people to people contact, cultural exachange.
According to data provided by the World Tourism Organization (UNWTO), in 2017, outbound tourism expenditures accounted for a 20 percent share of service imports in India, an increase from almost 13.3 percent in 2010.
The future of both India and especially its travel and tourism industry is bright – if it continues to focus on its opportunities and address its current limitations. The need for public private cooperation in execution and change in mindset of people is crucial.