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Source-This post on Travel & Tourism Development Index 2024 has been created based on the article “India ranks 39th on the World Economic Forum’s Travel & Tourism Development” published in “Times Travel” on 24 May 2024.
Why in News?
India has raised its ranking in the newly released Travel & Tourism Development Index compared to the previous report.
About Travel & Tourism Development Index 2024
1.This index is second edition and it has evolved from a flagship series produced by the World Economic Forum since 2007.
2. It is developed in partnership with the University of Surrey and incorporating insights from top Travel & Tourism (T&T) stakeholders, thought leaders, and data partners.
3. It evaluates the factors and policies that facilitate sustainable and resilient T&T development.
4. India holds the 39th position, making it the highest-ranked nation in South Asia and among other lower-middle-income economies. This is a notable rise from the 54th position in 2021.
2. Factors Influencing India’s Improved Ranking:
a) Cultural and Natural Attractions: India’s rich cultural heritage and diverse landscapes contribute significantly to its appeal as a travel destination.
b) Investments in Tourism: Increased investments in tourism infrastructure, along with efforts to enhance sustainability and safety in travel and tourism, have positively impacted India’s ranking.
c) Competitive Advantages: India is highly ranked for its price competitiveness (18th), air transport (26th), and ground and port infrastructure (25th).
It stands out as one of only three countries ranked in the top 10 across all resource pillars, with Natural Resources at 6th and Cultural and Non-Leisure Resources at 9th.
Challenges and Current Performance
a) Performance Decline Since 2019: Despite the overall improvement, India’s TTDI score in 2024 is 2.1% lower than in 2019, influenced by global inflation and supply issues.
b) Recovery from Pandemic: While there has been a decline in price competition, and air transport and tourist services have not fully rebounded to 2019 levels, there is optimism as the sector begins to recover post-pandemic.
Global Tourism Trends and Outlook
The lifting of COVID-19 travel restrictions and increased travel demand are expected to drive a significant resurgence in international tourist arrivals.
The travel and tourism sector’s contribution to global GDP is anticipated to return to pre-pandemic levels this year, boosting the global industry.
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