India's foreign exchange earnings from tourism for the year 2023 are projected to reach pre-COVID 2019 levels: ICCBizNews

During the January to April four-month period, foreign exchange earnings reached ₹71,235 crore, a significant increase from ₹23,584 crore recorded in the same period a year ago. Notably, India had earned a total of ₹2.1 trillion in foreign exchange from tourism in 2019.

In the first four months of the calendar year 2023, foreign tourist arrivals in India amounted to 31.33 lakh, showing substantial growth from the 11.77 lakh arrivals in the corresponding period of the previous year, according to the data provided by the Ministry of Tourism. However, despite this rise, foreign tourist arrivals remained below the pre-COVID levels of 2019, when the number stood at 39.54 lakh for the comparable period.

Nevertheless, there is a positive aspect as foreign exchange earnings from tourism during the four-month period reached ₹71,235 crore, indicating significant progress from the ₹23,584 crore recorded in the same period in 2022, as reported by the ministry.

To provide context, India recorded a total of ₹2.1 trillion in foreign exchange earnings from tourism in 2019, marking an 8.3% year-on-year increase.

Based on the latest data, experts express confidence that India is well-positioned to meet the foreign exchange earnings from the tourism industry achieved in 2019.

In response to a question in the Rajya Sabha, Tourism Minister G Kishan Reddy stated that Bangladesh accounted for approximately 21.9% of foreign tourist arrivals, while the US constituted 16.3% of the total travelers. Additionally, 10.3% arrived from the UK, 5% from Canada, and 4.5% from Australia.

According to Reddy, the provisional data from the Bureau of Immigration reveals that foreign tourist arrivals in India during January to April 2023 reached 79% of the FTAs during the same period in 2019.

Tourism received a significant boost this year due to India's G20 presidency, resulting in over 200 meetings and events scheduled at more than 60 locations across the country.

Approximately 23.7% of all foreign arrivals during January to April consisted of the Indian diaspora. Among the visitors, about 50% came for leisure or recreational purposes, while roughly 11% visited for professional reasons. Additionally, around 6% of visitors during this period engaged in medical tourism.

Regarding departures, during the reviewed four-month period, 84.73 lakh Indians traveled abroad, compared to 53.21 lakh a year ago and 87.96 lakh in 2019.

The leading destination for Indian travelers was the United Arab Emirates, attracting 26.48% of tourists, followed by Saudi Arabia (11.10%), the US (7.58%), and Thailand and Singapore, each accounting for approximately 5% of visitors.