May 21st 2024.
New Delhi: The latest report from the World Economic Forum (WEF) has shown that India's position on the Travel & Tourism Development Index has significantly improved, placing the country at 39th place. This positive shift can be attributed to the gradual recovery of global tourism activities from the impact of the pandemic. The report was released on Tuesday.
According to the WEF, the top spot on the index was claimed by the United States, while India emerged as the highest-ranked country in South Asia and among the economies classified as lower-middle-income. This is a significant accomplishment for India, as it had previously been ranked 54th on the index in 2021. However, the WEF noted that changes to the index parameters make it difficult to compare the rankings with previous years.
In addition to the US, other countries that featured in the top five on the 2024 list were Spain, Japan, France, and Australia. The index, which was developed in collaboration with the University of Surrey, highlighted India's competitive pricing, well-developed air transport and ground and port infrastructure as key factors in its ranking. The country also scored well in the Natural, Cultural, and Non-Leisure Resources categories, making it one of only three countries to rank in the top 10 for all three pillars.
The WEF further pointed out that India's travel and tourism sector benefits greatly from its sustainable demand, even though there has been a decline compared to 2019. This is due to the increasing number of tourists opting for longer stays, making their trips more environmentally friendly. However, like many other economies, India's enabling conditions for travel and tourism have been affected by global inflationary trends, resulting in a decline in price competitiveness. Additionally, the country's air transport and tourist services infrastructure have yet to fully recover to pre-pandemic levels.
As a result, India's overall TTDI score is 2.1% lower than it was in 2019. The index also revealed that high-income economies in Europe and Asia-Pacific continued to dominate the rankings. The WEF predicts that international tourist arrivals and the contribution of the travel and tourism sector to global GDP will return to pre-pandemic levels this year, driven by the easing of COVID-19 travel restrictions and a surge in pent-up demand.
The Middle East showed the highest recovery rates in international tourist arrivals, while Europe, Africa, and the Americas all saw a strong recovery of around 90% in 2023. The biennial index evaluates the travel and tourism sectors of 119 countries based on a variety of factors and policies. Germany claimed the 6th spot on the list, followed by the UK, China, Italy, and Switzerland in the top ten.
The results of the index highlighted that high-income economies generally have more favorable conditions for travel and tourism development. This can be attributed to factors such as business-friendly environments, dynamic labor markets, open travel policies, well-developed transport and tourism infrastructure, and a diverse range of natural, cultural, and non-leisure attractions. Overall, the WEF's report is a testament to India's growing potential in the travel and tourism sector and its ability to compete on a global stage.
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