India’s Tourism Forex Rises Despite Visitor Dip

India's Tourism Forex Rises Despite Visitor Dip

In October 2023, there were fewer international tourists to India than in October 2019. The industry’s financial standing, however, paints a quite different picture. It displays a consistent rise in foreign exchange earnings.

October 2023 saw 0.9 million tourists visit India, a 14% decrease. Foreign exchange earnings from tourism rose, reaching $2.3 billion, up $2.5 billion from October 2019.

The epidemic dealt the corporation a serious hit; by April 2020, profits had dropped to barely $0.01 billion. This remarkable statistic for October is the result of a continuous ascent back.

The earnings hit a peak over the past 4 years, touching $3.2 billion.

Earnings reached their zenith over the past four years in December 2019, reaching $3.2 billion, yet due to pandemic effects this figure drastically shrunk by April 2020, dropping down to just $0.01 billion – before slowly but steadily climbing back towards pre-pandemic heights through sustained and incremental forex earnings growth.

India has experienced an encouraging rebound in tourism-related economic indicators, reflecting well on their sector’s capacity for adaptation and recovery in an ever-evolving travel environment. Financial metrics exhibited resilience demonstrate India as a top tourist destination.

Read Also- India’s Forex Reserves Climb to $606.859 Billion

Robin Villiers is a finance analyst since 2014 in Forex with over 9+ years of experience. He is a finance graduate from University of London, UK. He is a true writing freak and is well versed in analysing trading strategies & indicators and tested 70+ brokers to provide access to important information to traders. Villiers is able to boil down the given projects into logical information necessary to make the right decision. He always carries a professional outlook and gives knowledge driven inputs in every area of finance.
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