Advantage India
Robust
Demand
* The Medical Tourism sector is predicted to increase at a CAGR of 21.1% from 2020-27.
* The travel market in India is projected to reach US$ 125 billion by FY27 from an estimated US$ 75 billion in FY20.
* International tourist arrivals are expected to reach 30.5 million by 2028.
Attractive
Opportunities
* India is geographically diverse and offers a variety of cultures that come with its own experiences, making it one of the leading countries in terms of international tourism expenditure.
* Travel and tourism are two of the largest industries in India, with a total contribution of about US$ 178 billion to the country’s GDP.
* The country’s big coastline is dotted with attractive beaches.
Policy
support
* US$ 2.1 billion is allocated to Ministry of Tourism in budget 2023-24 as the sector holds huge opportunities for jobs and entrepreneurship for youth.
* Under the Union Budget 2023-24, an outlay of US$ 170.85 million has been allocated for the Swadesh Darshan Scheme.
* 68 destinations/sites have been identified in 30 States/UTs for development under the PRASHAD Scheme as on March 31, 2022.
Diverse
Attractions
* India is geographically diverse and offers a variety of cultures that come with its own experiences, making it one of the leading countries in terms of international tourism expenditure.
* Travel and tourism are two of the largest industries in India, with a total contribution of about US$ 178 billion to the country’s GDP.
* The country’s big coastline is dotted with attractive beaches.
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