India's Tourism Sector Can Add $100 Billion To GDP: Macquarie

The tourism sector in India holds immense potential, and if the government sustains its renewed focus, the sector can add $100 billion to GDP by 2024, notes research firm Macquarie.

Rakesh Arora and Arjun Bhattacharya of Macquarie in their July 27, 2015 report titled: “Eye on India” note tourism is the fourth  largest impact sector in India with a 7% contribution to Indian GDP.

Indian tourism – A high impact industry

Arora and Bhattacharya point out that over the past six years, total contribution (both direct and indirect) of tourism to GDP increased at a 4% CAGR to $128 billion. Citing recent estimates by the World Travel and Tourism Council, the analysts point out that the total contribution should rise to $230...