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 INR 1,08,362 crore as compared to INR 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 INR 17,762 crore, against INR 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 report identifies emerging markets for Indian travellers, including Southeast Asia, the Middle East, Africa, and Eastern Europe. Additionally, India’s online travel market is expected to grow at a CAGR of 10.5 per cent between 2024-29, rising from USD 17.24 billion to USD 28.40 billion, driven by the increasing accessibility of affordable technology.
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 INR 2,478 crore for the tourism ministry — similar to INR 2,400 crore allocated last year in FY24. Actual expenditure last year was INR 1,692 crore. Meanwhile, the outbound tourism market in the country is projected to reach over USD 55.3 billion by 2034, from more than USD 18.8 billion in 2024, according to the FICCI-Nangia knowledge paper. India’s online travel market is expected to grow from USD 17.24 billion to USD 28.40 billion — at a CAGR of 10.5 per cent — between 2024 and 2029.
