Domestic travel and tourism to emerge as second largest employer by 2019: ASSOCHAM-YES Bank

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and YES Bank have projected that India would get capital investment worth USD 94.5 billion by 2019 in tourism and travel sector since it is expected to grow at 8.8 per cent from 2011-2019. Besides, the two institutions are of the view that growing travel and tourism industry will place India at the third position in the world in a decade’s time.

The above projections are condensed in Agri Tourism Study brought out recently by ASSOCHAM and YES Bank, findings of which were released by DS Rawat, Secretary General, ASSOCHAM.

The study further forecasts that domestic travel and tourism sector is expected to be the second largest employer in the world which is likely to employ over 40,037,000 employees by 2019 considering the way travel and tourism industry has started growing.

The share of India in the world employment is expected to be significant, as in the next couple of years India will have developed a good number of sites for travel and tourism with extensive focus for promoting of Agri Tourism.