Tourism Sector Growth: 25% CAGR Expected

Bhopal, Oct 11 (PTI) Union Minister Gajendra Singh Shekhawat on Saturday said the tourism sector contributes Rs 20 lakh crore to India's GDP, and is expected to grow at a rate of more than 25 per cent.


"Tourism now contributes over Rs 20 lakh crore to our national GDP. It provides livelihood to more than 84 million people," he said, addressing the `MP Travel Mart', an event organised by the Madhya Pradesh tourism department.


"India welcomed 20 million inbound tourists last year, and 2.94 billion tour trips were made by domestic travelers. Tourism sector in India is estimated to grow with a CAGR (Compound Annual Growth Rate) of more than 25 per cent," he added.


"These numbers tell a deeper story. The story of empowerment. Artisans finding new markets, families running home-stays, women entrepreneurs creating eco retreats, local youths becoming confidant guides and hosts," the tourism minister said.


At the heart of this transformation lies the belief that tourism is a national priority, not an auxiliary industry, with an unprecedented investment in highways, airports, inland waterways and digital infrastructure, he said, adding that travel across the country has been made seamless.