Indian Tourism Industry Booming, Tourists Flocking in Large Numbers
Released on: September 27, 2007, 2:49 am
Press Release Author: Shushmul Maheshwari
Industry: Transportation & Logistics
Press Release Summary: Tourism
industry in India holds a bright future ahead. The
RNCOS report reveals the impressive figures of the tourists coming in India, thanks
to its varied culture and scenic beauty.
Press Release Body: A recent and exhaustive research report on “Indian
Tourism Industry Forecast (2007-2011)” by RNCOS has revealed
that the tourism industry
in India is booming. The number of tourists arriving in India grew at a CAGR of
13.92% during the period 2004-2006.
According to the official figures released on 10th July 2007, the number of tourists
arriving in India was 1.82 Million in the year 2005 and 2.82 Million in 2006. The
foreign exchange earned during the first half of 2005 and 2006 was $2,661 Million
and $3,307.04 Million respectively.
In January 2007, nearly 532,00 tourists arrived which is the highest number so far.
During the first six months of 2007, over two million foreign tourists arrived
generating over $3,589,00 Million for the country. By May 2007, the number of
tourist inflow had reduced to around 267,000. The tourist inflow had increased again
in June 2007 to more than 310,000. These impressive figures reveal an upbeat
structure of the industry.
The RNCOS report “Indian Tourism Industry Forecast (2007-2011)” bares
the information that India is likely to witness an influx of 10 Million
international visitors by 2010, compared to just 5.42 Million tourists in 2007,
which will represent a CAGR of 22.65%.
The World Travel and Tourism Council (WTTC) has also reported that
India
tourism industries will remain one of the fastest growing through
the next 10-15 years and
expects Indian tourism to generate $89.9 Billion by the year 2014.
The reasons for this stupendous growth, as per the report are increased traveler
confidence, strong economic growth and an expected GDP of above 8% for the coming
years.
RNCOS report has also cited that the growth in number of arrival
of tourists
in India has ensured a bright year ahead for the tourism industry.
The steady inflow of
foreign tourists witnessed in the last two decades is due to number of factors. The
vivid Indian culture is imperative in attracting foreign tourists from around the
globe to India. The splendid beauty of the virgin countryside and the matchless
monuments lures the leisure tourists to the holy land. With various multinational
companies setting up in India, the number of business travelers from different parts
of the world have raised at an incredible level.
Moreover, the promotion campaigns like Incredible India has made India
‘Global’ and helped boosting the tourism industry of the country.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM531.htm
Current Industry News: http://www.rncos.com/blog
Web Site: http://www.rncos.com
Contact Details: RNCOS E-Services Pvt Ltd.
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92
91-11-4214-1229
info@rncos.com
2009
