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India to be second fastest growing tourism economy: WTTC
New Delhi, Mar 18: India will be the second fastest growing tourism economy during 2005-15, the World Travel and Tourism Council (WTTC) has said.
New Delhi, Mar 18: India will be the second fastest growing tourism economy during 2005-15, the World Travel and Tourism Council (WTTC) has said.
While Montenegro leads the travel and tourism forecast for 174 countries, China follows India, illustrating the impact of the emerging middle-classes on the growth of this sector. The report said Montenegro will register a 10.3 per cent annualised real growth in the travel and tourism sector, followed by India at 8.8 per cent and China at 8.7 per cent during the 10-year period.
Others in the top-10 list were Angola (8.2 per cent), Laos (8.1per cent), Chad (7.7 per cent), Guadeloupe (7.4 per cent), Fiji at 7.3 per cent and Uganda at 7.3 per cent. India was ranked above average in price competitiveness and average in environment on WTTCs travel and tourism competitive monitor.
However, it ranked below average in technology, human resources, and social and human infrastructure parameters. For the global tourism sector, the ten-year annualised growth forecast is 4.5 per cent per annum, illustrating the outlook for a bull market recovery in 2004. ''The recovery from 9/11, the war in Iraq, Sars and the down-turned economy is now well underway and the overall outlook for 2004 and beyond is for robust growth,'' WTTC said.
The global travel and tourism industry is also expected to produce 3.3 million new jobs in 2004 over the 2003 level to 73.7 million jobs or 2.8 per cent of the total world employment, the report said.
Bureau Report
Others in the top-10 list were Angola (8.2 per cent), Laos (8.1per cent), Chad (7.7 per cent), Guadeloupe (7.4 per cent), Fiji at 7.3 per cent and Uganda at 7.3 per cent. India was ranked above average in price competitiveness and average in environment on WTTCs travel and tourism competitive monitor.
However, it ranked below average in technology, human resources, and social and human infrastructure parameters. For the global tourism sector, the ten-year annualised growth forecast is 4.5 per cent per annum, illustrating the outlook for a bull market recovery in 2004. ''The recovery from 9/11, the war in Iraq, Sars and the down-turned economy is now well underway and the overall outlook for 2004 and beyond is for robust growth,'' WTTC said.
The global travel and tourism industry is also expected to produce 3.3 million new jobs in 2004 over the 2003 level to 73.7 million jobs or 2.8 per cent of the total world employment, the report said.
Bureau Report