Team Blitz India
INDIA’S travel and tourism sector has made significant strides, ascending to 39th position in the World Economic Forum’s (WEF) Travel & Tourism Development Index (TTDI) 2024, a substantial improvement from 54th place in 2021.
This progression is attributed to several factors including enhanced price competitiveness, robust air transport and ground infrastructure, and upgraded port facilities. India now stands as the leading nation in South Asia and among lower-middle-income economies. The sector has benefited from India’s abundant natural, cultural, and non-leisure resources, as noted by the WEF.
High-class resource pillars
The United States leads the global rankings, followed by Spain, Japan, France, and Australia. India’s strengths lie in its competitive pricing (18th), air transport infrastructure (26th), and ground and port facilities (25th). Notably, India is one of only three countries to feature in the top 10 across all resource pillars, owing to its substantial natural, cultural, and nonleisure resources.
Despite challenges such as global inflation impacting price competitiveness and incomplete recovery of air transport and tourist services infrastructure to pre-pandemic levels, India maintains a strong position in sustaining travel and tourism demand. This is particularly evident through sustained long stays among inbound visitors.
The WEF anticipates a resurgence in international tourist arrivals and the sector’s contribution to global GDP, fueled by the easing of travel restrictions and pent-up demand. Following the US, Spain, Japan, France, and Australia round out the top five in the 2024 list.
Miles to go still
India’s overall TTDI score remains slightly below its 2019 level, indicative of the sector’s resilience amidst adversities. While high-income economies in Europe and Asia-Pacific dominate the index, India’s competitive advantages in pricing and resources bolster its position in the global travel and tourism landscape. The Middle East exhibits the highest recovery rates in international tourist arrivals, surpassing 2019 levels by 20 per cent. Europe, Africa, and the Americas also show robust recoveries of around 90 per cent in 2023