India’s travel and tourism industry is the largest service sector, offering heritage, cultural, medical, business, and sports tourism experiences. This sector aims to promote tourism and make India a top destination for travellers. By offering new and diverse tourism experiences, it also wants to create more jobs and boost the economy.
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Travel Industry in India
India is a leading country in international tourism spending, and its travel and tourism industry is one of the largest, contributing approximately US$178 billion to the country’s GDP. India offers specialized tourism experiences such as cruises, adventure, medical, MICE (Meetings, Incentives, Conferences, and Exhibitions), film, wellness, sports, rural, eco-tourism, and religious tourism.
Tourism significantly contributes to the Make in India initiative by creating jobs and driving economic progress. It also leads to the development of top-notch hotels, resorts, fine dining establishments, efficient transportation systems, and cutting-edge healthcare facilities. The travel market in India is expected to reach US$125 billion by 2027, with international tourist arrivals projected to reach 30.5 million by 2028.
Top Travel Stocks in India in 2024 as per Market Capitalisation
- IRCTC
- EaseMyTrip
- Thomas Cook India
- Yatra Online Limited
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