Vision 2047 to boost tourism and hospitality with Rs 43 lakh crore GDP impact

New Delhi, Aug 26 (KNN) India’s tourism and hospitality sector is set to play a pivotal role in the country’s economic future, according to a report by MP Financial Advisory Services.

The study highlights that India’s ‘Vision 2047’—which targets 100 million international tourist arrivals—could generate a GDP impact of Rs 43.25 lakh crore and create 63 million jobs by 2034.

India has quickly risen in global tourism rankings, moving from 39th to 8th place in just one year, showcasing its growing strength as a global destination.

Foreign exchange earnings also tell a strong growth story, rising from Rs 0.13 lakh crore in 1999 to Rs 2.12 lakh crore in 2019. Despite pandemic-related setbacks, inflows bounced back to Rs 2.78 lakh crore in 2024, proving the sector’s resilience.

This rebound has been driven by domestic tourism, rising foreign arrivals, and government schemes such as Swadesh Darshan 2.0, PRASHAD, SASCI, and Heal in India.

“Tourism is no longer just leisure—it is a core pillar of growth, jobs, and competitiveness. The coming decade will be shaped by investment in infrastructure, sustainability, and diversified offerings,” said Mahendra Patil, Founder & Managing Partner, MP Financial Advisory Services.

The Union Budget 2025-26 has already outlined measures to strengthen tourism through infrastructure development, medical tourism, and employment generation.

Spiritual and heritage travel are also expanding rapidly. Pilgrim visits doubled from 677 million in 2021 to 1,439 million in 2022, generating Rs 2 lakh crore in trade and creating 800,000 jobs.

Similarly, heritage tourism is projected to grow from USD 19.9 billion in 2024 to USD 27.1 billion by 2033.

India’s Medical Value Travel market is also booming, expected to rise from USD 2.89 billion in 2020 to USD 13.42 billion by 2026.

Overall, with robust demand, rising incomes, and government-led campaigns, India is well-positioned to emerge as one of the world’s top tourism destinations by 2047.

(KNN Bureau)