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India
18.04.24 10:30
Tourism

Experts predict the annual revenue of Indian tourism industry to grow

About half will come from package tours


India's tourism market will grow by 10 per cent in 2024, bringing in revenue of US$23.7 billion. This is reported by ANI, a partner of TV BRICS, citing expert forecasts. By 2028, the market may grow to US$34.25 billion.

The country had earlier announced 100 per cent foreign direct investment (FDI) in tourism-related ventures, including the development of hotels, resorts and entertainment facilities. The total FDI inflow into India in the fiscal year 2023-2024 will be US$17.96 billion.

Prime Minister of India Narendra Modi claims that India's efforts in this sector are centred on simultaneously preserving the country's rich heritage and building modern infrastructure.

The tourism landscape in India is diverse, with the package tour market being the largest segment, projected to reach US$10.48 billion in 2024. Analysts expect the number of users in the package tour market to grow to US$64.74 million by 2028.

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