Indian travel market to reach $125 bn by FY2027, foreign tourist arrivals to touch 30.5 mn by 2028: IBEF report

According to IBEF’s report on ‘Growth of Tourism and Hospitality Industry’, travel and tourism are the two largest industries in India with a total contribution of about $178 billion to the country’s GDP. With this, the travel market in India is projected to reach $125 billion by FY2027, while the foreign tourist arrival is expected to touch 30.5 million by 2028.