India Tourism Q2 2018
We have made a series of positive forecast adjustments in the latest Q2 2018 Indian tourism report update to accountfor the higher than anticipated growth in terms of international arrivals in the 2017 calendar year. Foreign tourist arrivals to India in2017 exceeded the 10.0mn mark for the first time, posting annual growth of over 15%. BMI retains a robust growth outlook forIndia's tourism market over the short and medium term out to 2022. Factors propelling the tourism industry will be heavygovernment emphasis on developing policies to promote organic growth including relaxed entry procedures and electronic visas.Further efforts supporting expansion include improved transportation network infrastructure and a robust national constructionpipeline. Additional drivers supporting the industry will be high demand for international air travel, rising regional and internationalspending powers in new and established source markets and rising levels of national consumption that support domestic trips. Wenote that the upcoming FY2018/19 budget will play a crucial role in determining the future trajectory of the development of thetourism industry as the government is likely to make special provisions for the sector.
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