India in the Travel & Tourism Competitiveness Index 2019
The latest iteration of the Travel & Tourism Competitiveness Index for 2019 has been released by the World Economic Forum (WEF). In a piece of great news for India, it has improved its position by six places and is now ranked 34th on world travel and tourism competitiveness index.
What has happened?
The Travel & Tourism Competitiveness Index 2019 has been released by the World Economic Forum.
About the Index
- The Travel & Tourism Competitiveness index is the measure of all the factors which are determinants of all factors that make it attractive for a nation to develop a conducive environment for the development of travel and tourism industry in a country instead of ranking or measuring then the country attractiveness as a tourist destination.
- The Travel & Tourism Competitiveness Index (TTCI) is a measure of over 140 economies. The Index measures a large set of factors & policies which enable the sustainable development of travel & tourism (T&T) sector.
- In the latest report, Spain has held onto the first rank on the World Economic Forum’s (WEF) 2019 Travel and Tourism Competitiveness Report (TTCR).
- The second to fifth slots were held by France, Germany, Japan, and the United States, respectively.
All About India in the Index
- India has increased its position in the index from 40th to 34th in the list. India’s growth has been mainly driven by its rich natural & cultural resources and the strong price competitiveness observed by the tourists in the country.
- The Indian improvement has been the most significant among all the top 25% of all countries ranked on the list.
- India is the largest magnet for tourists in the South Asia region and India is South Asia’s most competitive T&T economy.
- The report has also stated that the countries of China, Mexico, Malaysia, Thailand, Brazil, and India (all rank in the top 35 in the index) have a good performance in the Cultural Resources and Business Travel Pillar.
- All these countries have a rich natural and cultural resources and strong price competitiveness in theirs economies.
Topics: Competition • Competitiveness Index • Economy • International rankings of Nepal • International rankings of the Czech Republic • Travel and Tourism Competitiveness Report • World Economic Forum • World economy