Impact of tourism on GDP is direct and overwhelming

The World Tourism Day

The World Tourism Day (September 27) celebrates the immense economic and cultural contributions that the tourism industry makes to countries and communities around the world. Tourism is a major driver of economic growth, generating income and employment opportunities in various other sectors like hospitality, transportation, and local businesses. Moreover, the day encourages responsible and sustainable tourism practices. As the sector continues to grow, there is a pressing need to mitigate its negative impacts on the environment, culture, and society. The World Tourism Day serves as a platform for governments, organizations, and individuals to discuss and implement strategies for responsible tourism, such as reducing carbon emissions, protecting natural ecosystems, and respecting local customs and traditions. It promotes the idea that tourism should be a force for good, benefiting both travelers and the destinations they visit.

Sustainable Development Goals (SDGs)

1. Goal 8: Decent Work and Economic Growth – Tourism generates income and employment opportunities in various sectors.
2. Goal 13: Climate Action – Strategies for responsible tourism include reducing carbon emissions.
3. Goal 15: Life on Land – Protecting natural ecosystems is an important aspect of sustainable tourism.
4. Goal 16: Peace, Justice, and Strong Institutions – Respecting local customs and traditions promotes harmony between travelers and destinations.

The WTTC expects 2024 to exceed 2019, and for travel and tourism to be a growth sector over the next ten years.

WTTC Forecasts

• The travel and tourism sector will grow its GDP contribution to $15.5 trillion by 2033, representing 11.6% of the global economy.
• By 2033, the sector will employ 430 million people worldwide, with almost 12% of the working population employed in the sector.
• Nearly half of the 185 countries in the report will have either fully recovered to pre-pandemic levels or be within 95% of full recovery by the end of 2023.

The tourism sector in India is projected to contribute $250 billion to the country’s GDP by 2030, generating employment for 137 million individuals, and accruing $56 billion in foreign exchange earnings (FEE). The Indian tourism sector ranks among the fastest-growing economic sectors in the country. It significantly impacts employment and drives regional development, while also creating a multiplier effect on the performance of related industries. By 2028, India’s tourism and hospitality industry is projected to generate $50.9 billion in visitor exports, a significant increase from $28.9 billion in 2018. Additionally, Foreign Tourist Arrivals (FTAs) are anticipated to reach 30.5 million by 2028.

India’s Initiatives

• The Ministry of Tourism has designated 2023 as the ‘Visit India Year’ to promote inbound travel, in light of the G20 Presidency and the India@75 Azadi ka Amrit Mahotsav celebrations.
• India welcomes 100% Foreign Direct Investment (FDI) in the tourism industry under the automatic route.
• 100% FDI is permitted for tourism construction projects, including the development of exquisite hotels, resorts, and unparalleled recreational facilities.
• Approximately 50 destinations will be selected through challenge mode to be developed as a whole package for domestic and international tourism.
• Sector-specific skilling and entrepreneurship development are necessary to achieve the objectives of the ‘Dekho Apna Desh’ initiative.
• Tourism infrastructure and amenities will be facilitated in border villages through the ‘Vibrant Villages’ program.
• Unity malls will be set up in state capitals or prominent tourist centers.

SDGs, Targets, and Indicators

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 8: Decent Work and Economic Growth
• SDG 12: Responsible Consumption and Production
• SDG 13: Climate Action
• SDG 15: Life on Land
• SDG 17: Partnerships for the Goals

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 8.9: By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products (SDG 8)
• Target 12.8: By 2030, ensure that people everywhere have the relevant information and awareness for sustainable development and lifestyles in harmony with nature (SDG 12)
• Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning (SDG 13)
• Target 15.1: By 2020, ensure the conservation, restoration, and sustainable use of terrestrial and inland freshwater ecosystems and their services, in particular forests, wetlands, mountains, and drylands, in line with obligations under international agreements (SDG 15)
• Target 17.17: Encourage and promote effective public, public-private, and civil society partnerships, building on the experience and resourcing strategies of partnerships (SDG 17)

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

No specific indicators are mentioned or implied in the article that can be used to measure progress towards the identified targets.

4. SDGs, Targets, and Indicators

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Source: bizzbuzz.news

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