Tourism industry on track to touch $1 trillion by 2047: Report

India's tourism industry is on track to reach $1 trillion by 2047, with data-led tourism set to be a key driver of growth, according to a report. The report by digital payments player Visa Inc. and professional services firm EY titled "Charting the Course for India - Tourism Megatrends Unpacked," takes a long-term view of India's tourism industry, beyond the pandemic's impact, and identifies mega-trends expected to shape the sector over the next decade.

It highlighted that international tourists in India spend 26x more than domestic, hence attracting global visitors is key.

Commenting on the report, Sandeep Ghosh, Group Country Manager for India & South Asia, Visa said, "The projected growth of India's tourism industry to reach $1 trillion by 2047 is an exciting opportunity for the country. By aggregating and utiliing data from various stakeholders, such as payment service providers and private tour operators, we can help create a more resilient and sustainable tourism ecosystem for India".

He observed that the report's findings demonstrate that the key to building a robust future for India's tourism industry is through data-driven insights.