The annual report of World Economic Forum’s Travel & Tourism Development Index 2024 is out, and India is ranked 39th, the highest in South Asia and among other lower-middle-income economies. India’s new ranking is a notable improvement from its 54th position in the 2021 index. However, it is important to note that changes made to the index parameters since the last report in 2021 make direct comparisons challenging.
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As per the report, the United States tops the list, followed by Spain, Japan, France, Australia, Germany, the United Kingdom, China, Italy and Switzerland (the top 10 countries).
Reason for the improved rank
The first few things that come to mind are – India’s rich cultural heritage, diverse landscapes, increased investments in tourism infrastructure, efforts to enhance travel and tourism sustainability and safety. The rise in India’s ranking reflects the country’s growing appeal as a travel destination.
The index, created with the University of Surrey, ranks India highly for price competitiveness (18th rank), Air Transport (26th rank), and Ground and Port infrastructure (25th rank). Also, as per the report, India is one of only three countries to score in the top 10 across all resource pillars. For instance, India’s Natural Resources was ranked 6th, and both Cultural, and Non-Leisure Resources were ranked 9th.
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Despite a decline compared to 2019, India still performed well in travel and tourism demand sustainability, aided by longer, more sustainable stays among inbound visitors.
India’s overall Travel and Tourism Development Index (TTDI) score is 2.1% lower than in 2019. And if reports are to go by, this is due to global inflation and supply issues. Its effect can be seen in India’s travel and tourism. There’s a decline in price competition, and air transport and tourist services haven’t fully recovered to 2019 levels.
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The WEF stated that international tourist arrivals and the travel and tourism sector’s contribution to global GDP are expected to return to pre-pandemic levels this year, now that COVID-19 travel restrictions are lifted and there is a stronger demand for travel. The renewed enthusiasm for travel is expected to drive a significant resurgence in international tourist arrivals, providing a much-needed boost to the global travel and tourism industry.
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