The tourism and hospitality industry is one of the largest segments under the services sector of the Indian economy. Tourism in India is a key growth driver and a significant source of foreign exchange earnings. In India, the sector's direct contribution to gross domestic product (GDP) is expected to grow at 7.8 per cent per annum during the period 2013-2023.
The total market size of the tourism and hospitality industry in India stood at US$ 117.7 billion in 2011 and is anticipated to touch US$ 418.9 billion by 2022.
The foreign direct investment (FDI) inflows in hotel and tourism sector during the period April 2000–March 2014 stood at US$ 7,348.09 million, as per the data released by Department of Industrial Policy and Promotion (DIPP).
India ranked 12th among 184 countries in terms of travel and tourism's total contribution to gross domestic product (GDP) in 2012. The sector's direct contribution to GDP is expected to grow at 7.8 per cent per annum during 2013–2023 vis-à-vis the world average of 4.2 per cent.