CURRENT AFFAIRS
CURRENT AFFAIRS
Description
India has risen to 39th place in the World Economic Forum's Travel & Tourism Development Index 2024, a substantial gain from 54th in 2021. Despite the obstacles provided by the epidemic, India has demonstrated resilience and competitiveness in many facets of its travel and tourist economy.
India's Strengths And Performance: Resource Pillars
India ranks 18th in pricing competitiveness, 26th in air transportation, and 25th in ground and port infrastructure. Its strong natural (6th), cultural (9th), and non-leisure (9th) resources all contribute significantly to its tourism attractiveness, ranking it among the best performers globally.
Sustainability And Recovery
Despite a dip from 2019, India's travel and tourism demand remains high, particularly with the rise of sustainable long stays among inbound travelers. However, problems such as global inflationary tendencies have an impact on pricing competitiveness, and the recovery of air transport and tourism infrastructure has remained below pre-pandemic levels.
Overall TTDI Score
India's overall Travel & Tourism Development Index score is 2.1% lower than in 2019, reflecting the sector's uneven recovery globally. The indicator is led by high-income economies in Europe and the Asia-Pacific region, although India outperforms lower-middle-income countries and South Asia.
Global Travel Trends And Recovery Rates
The research indicates various recovery rates in foreign tourist arrivals by region, with West Asia leading with a 20% increase above 2019 levels. Overall, recovery rates in Europe, Africa, and North and South America are expected to be around 90% by 2023.
Enabling Conditions In Developing Economies
While conditions for travel and tourism are improving in developing countries, more efforts are needed to close the gap with high-income economies. Several emerging countries, like Saudi Arabia, the United Arab Emirates, Uzbekistan, Côte d'Ivoire, Albania, Tanzania, and Indonesia, have significantly improved their TTDI scores, indicating room for growth and development in the industry.
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