Indian medical tourism industry to touch $9bn mark by 2020: Study

at 5:56 pm
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New Delhi (NVI): International tourist arrivals in India are expected to reach 30.5 million by 2028 whereas by 2020, the medical tourism industry of India is likely to touch USD nine billion mark, according to the Indian Tourism and Hospitality Industry Report, 2019.

The total contribution by travel and tourism sector to India’s GDP is expected to increase from Rs 15,24,000 crore (US$ 234.03 billion) in 2017 to Rs 32,05,000 crore (US$ 492.21 billion) in 2028.

The Government of India has set a target of 20 million foreign tourist arrivals (FTAs) by 2020 and double the foreign exchange earnings as well.

Besides, the country was ranked 34th in the Travel & Tourism Competitiveness Report 2019 published by the World Economic Forum.

India is also working to achieve one per cent share in world’s international tourist arrivals by 2020 and two per cent share by 2025, the report said.

India is a large market for travel and tourism. It offers a diverse portfolio of niche tourism products – cruises, adventure, medical, wellness, sports, MICE, eco-tourism, film, rural and religious tourism, the report acknowledged, adding that the country has also been recognised as a destination for spiritual tourism for domestic and international tourists.

As of 2017-18, 81.1 million people are employed in the tourism sector in India which was 12.38 per cent of total employment in the country, the report said.

According to the report, the total FDI received by Indian hotel & tourism sector was US$ 12.35 billion between April 2000 and March 2019.