India’s travel GDP will grow by 5.7%

Travel and tourism’s performance in the first half of 2012, especially international arrivals, has been positive, says the WTTC Mid-year Update October 2012 on Economic Impact of Travel & Tourism. Excerpts:

TT BUREAU World

Travel & Tourism GDP is projected to grow by 2.7% in 2012. This is especially impressive as set against the wider global economic backdrop, many economies are slowing or are showing below-trend or negative growth.

In the Eurozone, sovereign debt issues and austerity policies have reduced trade and spending considerably over the first half of 2012 impacting economies around the world. The pace of growth in emerging markets is faster than in advanced economies, however, they too are feeling the impact of Europe’s financial troubles.