India currently welcomes about 10 million foreign tourists each year, but the ambitious target is to boost this number to 100 million during the Amrit Kaal period, announced Mugdha Sinha, Director General of the Tourism Ministry. Speaking at the conclusion of the three-day BLTM 2024 event, Sinha outlined various strategies aimed at enhancing international tourism and fostering collaboration between the private and government sectors. Efforts are also being made to encourage repeat visits from foreign tourists.
Uttarakhand’s Tourism Minister Satpal Maharaj highlighted the rapid expansion of tourism in India, noting that the growing influx of international visitors is expected to create more employment opportunities for locals. He also emphasized the importance of integrating local crafts with the tourism experience.
Jyoti Mayal, President of the Travel Agents Association of India (TAAI), highlighted the critical role of the travel and tourism industry in the nation’s economy. She noted that the sector contributes 10% to GDP and generates approximately USD 78 billion annually. By 2029, it is expected to create 53 million jobs and attract 30.5 million travelers, with projections indicating a potential reach of USD 253 billion by 2030, demonstrating substantial growth potential.
Sanjeev Agarwal, CEO of Fairfest Media Limited, the event organizers, stressed the need for improvements to India’s railway network to further bolster the tourism sector. He pointed out that while India’s extensive railway system is crucial, it requires significant upgrades.
Estimates suggest that India’s MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism market will grow at a CAGR of 6% from 2024 to 2029, underscoring the sector’s increasing importance. The Indian Exhibition Industry Association reported that the industry, valued at USD 709 million in 2019, is projected to reach USD 1.283 billion by 2025, with a CAGR of 10.25%.
