Forecast: International Receipts for Tourism in India

The data on international tourism receipts in India shows a notable trend of growth with a few fluctuations over the years. By 2023, the value of receipts stood at $35.88 billion USD. Observing the recent two years, there was a significant growth of 15.03% in 2022, followed by a moderate increase of 3.34% in 2023. The average annual growth rate (CAGR) over the last five years stands at 4.25%, indicating a steady recovery from the pandemic impact observed in 2020.

Projected values from 2024 to 2028 suggest continuous growth, with the CAGR for this period forecasted at 2.49%, reflecting a cumulative growth of 13.06% over these years. Expect a gradual acceleration in tourism receipts, reaching $41.74 billion USD by 2028.

Future trends to watch for:

• Impact of government policies and marketing strategies aimed at boosting tourism.
• Potential effects of global economic conditions on international travel spending.
• Technological advancements improving travel experiences.
• Emergence of new tourist destinations within India.