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by IANS |
New Delhi, Aug 5 (IANS) India saw a 9.1 per cent increase in foreign tourist arrivals (FTAs) in the January-May period at 40.72 lakh compared to 37.32 lakh in January-May last year, the Parliament was informed on Monday, indicating a positive impact on the overall economic growth and development of the tourism sector in the country.
Foreign exchange earnings (FEEs) during the period stood at Rs 1,08,362 crore as compared to Rs 88,441 crore in January-May 2023, registering a growth of 22.52 per cent (year-on-year), said Union Minister for Tourism and Culture, Gajendra Singh Shekhawat, in a reply in the Lok Sabha.
For the month of May, foreign exchange earnings were Rs 17,762 crore, against Rs 17,206 crore in May last year, clocking 3.23 per cent growth.
Similarly, foreign tourist arrivals in May were 6 lakh as compared to 5.98 lakh in May 2023, registering a growth of 0.3 per cent.
The data shows a consistent increase in foreign tourist arrivals and foreign exchange earnings, suggesting a robust and expanding tourism industry, said the minister.
The government is also focusing on the development of notable spiritual landmarks.
The Union Budget also emphasised the historical and cultural significance of tourism in India as Finance Minister Nirmala Sitharaman announced the “comprehensive development” of the Vishnupad temple corridor and Mahabodhi temple corridor in Bihar.
For FY 2024-25, the government earmarked about Rs 2,478 crore for the tourism ministry -- similar to Rs 2,400 crore allocated last year in FY24. Actual expenditure last year was Rs 1,692 crore.
Meanwhile, the outbound tourism market in the country is projected to reach over $55.3 billion by 2034, from more than $18.8 billion in 2024, according to the FICCI-Nangia knowledge paper.
India’s online travel market is expected to grow from $17.24 billion to $28.40 billion -- at a CAGR of 10.5 per cent -- between 2024 and 2029.
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