Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> and Maldives have signed an agreement to introduce the <keyword id="19998949" type="General" weightage="20" keywordseo="Unified-Payments-Interface" source="keywords">Unified Payments Interface</keyword> in the archipelago nation, which will have a "very positive" impact on its <keyword id="20260982" type="General" weightage="20" keywordseo="tourism-sector" source="keywords">tourism sector</keyword>, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. "Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives," he said in a post on X. Developed by the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. Addressing a press conference with his Maldivian counterpart Moosa Zameer after their "productive discussions", Jaishankar said that India, through its UPI, has "revolutionised digital transactions". Stressing that it has taken financial inclusion in India to new levels, he said "Today 40 per cent of the world's real-time digital payments take place in our country." "We see this revolution, every day in our lives. I am pleased to note that with the signing of the MoU today, we have taken the first step towards bringing this digital innovation to Maldives," he said. "I wish the very best to stakeholders on both sides and hope that we will soon see the first UPI transaction here. I should mention that it will have a very positive impact on tourism," he added. Tourism is the main source of economic activity for the Maldives, contributing nearly 30 per cent of the GDP and generating more than 60 per cent of foreign exchange. Jaishankar's visit aims to reset the bilateral relationship with the Maldives and is the first high-level trip from India after the archipelago nation's pro-China president, Mohamed Muizzu, assumed office last year. "India's partnership with the Maldives is based on our deep desire to work together for each other's welfare and interests. It is a partnership that has enabled us to always swiftly and effectively respond to challenges, as witnessed in the past," Jaishankar said. "It is a partnership that has enabled us to deliver results and bring tangible benefits to our people in accordance with their wishes, aspirations and priorities," he said. In a post on X, Jaishankar also said, "Jointly inaugurated six High Impact Projects in areas of street lighting, mental health, children speech therapy and special education." "Welcome renewal of MoU between National Centre for Good Governance and Civil Services Commission on (the) training of additional 1,000 civil services officers," he added. Addressing the joint press conference, Maldivian Foreign Minister Zameer said, "India has always been one of our closest friends and a vital development partner." He said the "enduring friendship" was built on a foundation of mutual trust and respect and has continued to flourish over the years. "High-level exchanges between our countries have deepened our dialogue and cooperation in areas of shared interest. We remain dedicated to strengthening and advancing this mutually beneficial partnership," he said. "Minister Dr Jaishankar and I agreed that much more needs to be done to promote trade and investment between the Maldives and India," he said, adding that both sides are committed to establishing "effective mechanisms to enhance economic cooperation, fostering a vibrant and prosperous partnership that will benefit both the nations." Zameer said he conveyed President Muizzu's proposal to begin negotiations on a Free Trade Agreement between the Maldives and India. "This agreement alongside other economic and trade-related agreements will facilitate trade liberalisation and ease the risks of doing business in both our countries," he said. Zameer said that India and Maldives have also mutually agreed to further strengthen their partnership by continuing joint exercises and expanding training opportunities for officers from both countries, asserting that this reflects "our commitment to working together to ensure the security of our nations as well as ensuring the safety and stability of the Indian Ocean region." India's relations with the Maldives suffered a major setback last year when President Muizzu demanded the withdrawal of Indian military personnel manning three aviation platforms in the Maldives. Subsequently, the Indian military personnel were replaced by civilians by May 10, the mutually agreed date. "On regional and multilateral issues of importance, our countries have a common understanding and are united in our efforts to resolve them. We agreed to continue our cooperation on issues ranging from combating terrorism, violent extremism, drugs, human trafficking and to the promotion and protection of human rights," Zameer said. In his press statement, Jaishankar said that India and the Maldives "are not just close neighbours, we are also natural partners." "Today, we are mutually invested in each other's development and progress. In a globalised and interconnected world, we see a lot of volatility and global tensions. Even as the world is recovering from the impact of the COVID pandemic, we have been confronted with new challenges arising from international conflicts," he said. In this tumultuous environment, India has been and will be, an anchor of stability for its friends, partners and neighbours. To the Maldives specifically, India has provided support to deal with economic challenges through financial assistance and budgetary support, and by ensuring an uninterrupted supply of critical items, he noted. India's actions have been and will continue to be guided by its firm commitment to the philosophy of 'Sabka Saath, Sabke Vikas - which is- Together, we prosper', Jaishankar said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank">Brainbees Solutions (Firstcry) IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

India to introduce UPI payment service in Maldives

<ul class="summary-list"><li>Israel's tourism industry has faced a major drop in visitors and revenues since October 7, 2023.</li><li>Businesses have closed due to Hamas' rocket strikes in the south and Hezbollah's fire in the north.</li></ul>Israel's tourism industry has suffered significantly since Hamas launched its terrorist attacks on October 7, 2023.According to <a target="_blank" class="" href="https://www.cbs.gov.il/he/publications/doclib/2024/tourism_q1_24/t01.pdf">statistics</a> from Israel's Central Bureau of Statistics, the number of tourists dropped from around 300,000 in September to around 89,000 in October, falling to around 38,000 in November.So did tourism income.In 2023, it declined from around $1.4 billion in the third quarter to around $464 million in the last quarter, according to <a target="_blank" class="" href="https://www.cbs.gov.il/he/publications/doclib/2024/tourism_q1_24/t18.pdf">data</a> from Israel's CBS."2023 was supposed to be a record year for tourism in Israel; we were close to 4.5 million tourists," said Peleg Lewi, a foreign affairs advisor to Israel's Tourism Ministry.The downward trend has continued over the first six months of this year, with just 501,100 visitors compared to 2.1 million in the same period last year, per <a target="_blank" class="" href="https://www.cbs.gov.il/he/mediarelease/pages/2024/%D7%9B%D7%A0%D7%99%D7%A1%D7%95%D7%AA-%D7%A9%D7%9C-%D7%9E%D7%91%D7%A7%D7%A8%D7%99%D7%9D-%D7%9C%D7%99%D7%A9%D7%A8%D7%90%D7%9C-%D7%91%D7%99%D7%95%D7%A0%D7%99-2024.aspx">data</a> from Israel's CBS.The lack of visitors has been compounded by <a target="_blank" class="" href="https://saleslink.aa.com/en-US/blog/2023/travel_advisory/israel-security-incident-travel-notice-exception-policy.html">many</a> <a target="_blank" class="" href="https://x.com/aegeanairlines/status/1710655166687461491">international</a> <a target="_blank" class="" href="https://www.aircanada.com/uk/en/aco/home/book/travel-news-and-updates/2023/civil-unrest-israel.html#/">airlines</a> <a target="_blank" class="" href="https://x.com/airindia/status/1710945413401088065?lang=en">pausing</a> flights to Israel in the wake of Hamas' terrorist attacks, with some still <a target="_blank" class="" href="https://www.haaretz.com/israel-news/2024-08-12/ty-article/lufthansa-and-swiss-extend-suspension-of-flights-to-israel-until-at-least-august-21/00000191-46e7-d7bb-a1df-efef150e0000">canceling</a> flights as recently as this week.Samuel Scanlon, a Ph.D. candidate with University College Dublin's School of Sociology, pointed to other factors in a piece for <a target="_blank" class="" href="https://theconversation.com/war-in-gaza-has-plunged-israels-tourism-industry-into-a-crisis-it-will-struggle-to-recover-from-229151">The Conversation</a> in May.He said Israel's tourism sector may be suffering from the fallout of US college student-led <a target="_blank" class="" href="https://www.businessinsider.com/harvard-students-groups-signed-anti-israel-letter-without-them-knowing-2023-10">protests</a>, calls for boycotts and divestitures, and social media advocacy and solidarity movements, which could hurt its revenues.As many as 46,000 businesses have been forced to shut down since the October 7 terrorist attacks, according to <a target="_blank" href="https://www.timesofisrael.com/up-to-60000-israeli-businesses-may-close-in-2024-as-war-takes-toll-on-economy/#:~:text=CofaceBDI%20says%2046%2C000%20businesses%20have,services%20sectors%20are%20hit%20hardest">business information</a> company CofaceBDI, relayed by The Times of Israel last month.<h2 id="4d49ed02-db0c-445b-9a38-1960e49b42e1">Relying on domestic clients, exporting abroad, and cost-cutting</h2>David Tucker, general manager of the Ramada by Wyndham Hotel in Jerusalem, said that the hotel is facing a challenge due to a "big" drop in international visitors.Since the Hamas' October 7 terrorist attacks, the hotel's tourism mix has changed, he told BI, with about 30% of tourists now coming from Israel and 70% from abroad, versus about 10% of Israelis and 90% of foreigners before the attacks.And, "obviously," the hotel's profits "dropped" last year, Tucker added.He declined to give BI the hotel's profit figures or the number of visitors staying there before and after the October 7 terrorist attacks, but he said he expected the hotel to "break-even, plus" this year.Yossi Navi, general manager of the Carlton Hotel in Tel Aviv, said the hotel also weathered the war over the last 10 months.<div type="image" title="A view of the 'Carlton' hotel in 2013" height="3355" width="4497" msid="112604987" hostid="261" sizebytes="1331924"></div>He told BI that the hotel made a bigger profit in the first quarter of this year than in the same quarter last year, but he declined to give BI the hotel's profit numbers.He said the hotel stayed afloat by cutting back on outsourcing services, turning to cheaper food and amenity suppliers, and getting support from Jewish organizations — all while housing war evacuees for free in 60 of its 270 rooms.The Israeli government paid $250 per room per night for a couple, he said, which means he hasn't had to pay extra to house evacuees."This is the only way to survive," he said. As of May, just 65% of the hotel was full, up from 45% in October and 55% between December and April, he said.Israeli tour guides, meanwhile, told BI in May that they have had to pivot to "<a target="_blank" class="" href="https://www.businessinsider.com/israel-gaza-tour-guides-pivot-october-7-tours-make-money-2024-6">grief tourism</a>" as their only means of making money as the sites of the October 7 attacks are the only ones in demand.On October 7, 2023, more than a thousand people, mostly civilians, were <a target="_blank" class="" href="https://www.businessinsider.com/video-wreckage-destruction-at-israeli-festival-attacked-by-hamas-2023-10">killed</a> in Hamas attacks on Israel, with the Nova musical festival being the <a target="_blank" class="" href="https://www.businessinsider.com/israel-festival-attendees-played-dead-for-hours-during-hamas-attack-2023-10">site</a> of the highest number of casualties.Israel retaliated <a target="_blank" rel="" href="https://www.businessinsider.com/what-is-israel-trying-to-achieve-in-gaza-bombing-2023-12">against Hamas in Gaza,</a> which, according to the UN, has led to more <a target="_blank" class="" href="https://reliefweb.int/report/occupied-palestinian-territory/gaza-war-un-revises-death-toll-women-and-children">than 35,000 Palestinian deaths</a>.<h2 id="3e61ee4b-bedf-4d14-8658-bc3486993066">On the brink of war</h2>Things have not been as easy in northern Israel.Israel and Hezbollah, the Iran-backed militant group operating out of Lebanon, have regularly exchanged fire since Hamas staged its cross-border terrorist attack from Gaza.While this tit-for-tat has so far been contained to the border region, it could <a target="_blank" rel="" href="https://www.businessinsider.com/wider-war-hezbollah-could-unleash-unprecedented-missile-barrage-against-israel-2024-7">escalate into a wider war</a>.Tensions rose again recently after Israel <a target="_blank" class="" href="https://www.businessinsider.com/israel-tried-killing-top-hezbollah-commander-beirut-with-us-bounty-2024-7">killed</a> a Hezbollah commander in the Lebanese capital, Beirut.The IDF <a target="_blank" class="" href="https://x.com/IDF/status/1818397182602707308">said</a> the attack came in retaliation to the armed group's <a target="_blank" href="https://www.businessinsider.com/israel-promised-revenge-attack-on-hezbollah-yet-to-follow-through-2024-7">lethal rocket strike</a> on a soccer field in the part of the Golan Heights controlled by Israel.Yaara Alfasi, vice president of marketing and export at Mount Odem Winery, said the family business, located in the northern part of the Golan Heights, near the Israel-Lebanon border, has borne the brunt of constant fire in the area.<div type="image" title="Smoke billowed after a hit from a rocket fired from southern Lebanon over the Upper Galilee region in northern Israel on July 8, 2024." height="1333" width="2000" msid="112604988" hostid="261" sizebytes="158012"></div>He told BI that the winery was declared a closed military area from October until November, at the peak of the harvest season, and the winery's sales dropped 70–80% in the last quarter of 2023.Even now, he said, there is still "uncertainty as to whether we will be able to get to the vineyards because the security situation warms up and relaxes every time.""Although the market has gradually recovered, it is still far from what it was at the beginning of the war," he said.Gal Yaniv, CEO of Pelter Winery, a family-owned business in the Golan Heights, finds himself in a similar situation.He told BI that most of the vineyards are on the Lebanese-Syrian border, and some are out of reach due to cross-border fires and explosions."Due to fires caused by Hezbollah missiles, we have already lost about 7% of the expected crops," he said, adding: "If the situation continues, we are in big trouble."He said his profits have dropped by about 5% since October 7.<h2 id="ef44bd6e-4229-415d-9c8e-43aa2e04e6c6">The tourism industry has been there before</h2>Having worked for more than 40 years in Israel's hospitality industry, Tucker of the Ramada by Wyndham Hotel said the country has experienced multiple crises, including two intifadas and two Lebanese wars."And once things settle, within a couple of months, tourists come back, big time, because people want to visit Israel and the Holy Land," he said.Tucker said he hopes the war will end "as soon as possible."However, for this to happen, the hostages must be released, he said, adding that he wouldn't want to be in Netanyahu's "shoes" right now.Navi from Tel Aviv's Carlton Hotel echoed Tucker's comments, saying ending the war with Hamas would "absolutely" help.Lewi, the foreign affairs advisor to Israel's Tourism Ministry, predicted that if the conflict ends, the industry's recovery would take longer than in past conflicts, likely between three and six months."In the last 20 years, it was usually short cycles of violence — two or three weeks. We have been there for 10 months," he said.According to <a target="_blank" href="https://www.timesofisrael.com/up-to-60000-israeli-businesses-may-close-in-2024-as-war-takes-toll-on-economy/#:~:text=CofaceBDI%20says%2046%2C000%20businesses%20have,services%20sectors%20are%20hit%20hardest">business information</a> company CofaceBDI, relayed by The Times of Israel, as many as 60,000 businesses are expected to close in 2024."We were making plans for the day after, the day after, and the day after hasn't arrived," Lewi said.

Israel's tourism industry is struggling under the weight of the war

New Delhi [India], August 4 (ANI): India's <keyword id="21307504" type="General" weightage="100" keywordseo="outbound-tourism" source="keywords">outbound tourism</keyword> market is expected to reach USD 18817.72 million (USD 18.81 billion) in 2024 and grow at a <keyword id="20256055" type="General" weightage="20" keywordseo="CAGR" source="keywords">CAGR</keyword> of 11.4 per cent in the decade between 2024 and 2034 to reach approximately USD 55388.41 million (USD 55.38 billion), highlighted a FICCI-Nangia knowledge paper. The paper titled '<keyword id="22661864" type="General" weightage="20" keywordseo="Navigating-Horizons" source="Orion">Navigating Horizons</keyword>: <keyword id="22661865" type="General" weightage="20" keywordseo="The-Rise-and-Future-of-Indian-Outbound-Tourism" source="Orion">The Rise and Future of Indian Outbound Tourism</keyword>', released during the '3rd Outbound Tourism Summit' here in the FICCI office earlier this week, asserted that few emerging markets and opportunities for outbound <keyword id="19916662" type="General" weightage="20" keywordseo="travel" source="keywords">travel</keyword> include various Southeast Asian, Middle Eastern, African and Eastern European countries. India's online travel market, which consists of sales of travel services through online channels, is expected to grow at a CAGR of 10.5 per cent between 2024-29, from USD 17.24 billion to USD 28.40 billion. International travel has thus been eased by the steady growth in affordable technology, states the paper. It further states that the government administration and the tourism industry stakeholders in India may undertake various strategic interventions to promote the outbound tourism market. These include bilateral engagement; improved connectivity; support to travel industry stakeholders; marketing of international destinations; curated packages; and hospitality partnerships, among others. Speaking at the launch of the report, Mary M Mutuku, Deputy High Commissioner of Kenya to India said that Kenya is not only committed to deepen the relations between India and Kenya but also promoting Kenya as a preferred tourist destination. "Currently, the India market is among the top 5 Kenya's key sources of tourists, and this has the potential to grow even further," she said in her brief address. To attract more <keyword id="110519" type="General" weightage="20" keywordseo="Indian-tourists" source="Orion">Indian tourists</keyword> to Kenya, Mutuku stated that Kenya has put in place the necessary infrastructure to ease travel in the country. "With an increase in the number of flights between the two countries along with the opening of the Nairobi Expressway, tourists will have more convenience traveling in Kenya. A new cruise terminal at Mombasa port is a major boost to cruise tourism. The berth targets to enhance passenger handling capacity as well as allow for an increased volume of cruise ships arrival at the port," she added. Seitenov Darkhan, Deputy Ambassador, Embassy of Kazakhstan to India had said, "We have huge potential for mutual and beneficial cooperation in the tourism sector. There has been significant growth in the number of tourists coming to Kazakhstan from India which is also due to offering 14 days visa-free regime for Indian tourists along with an increase in a number of direct flights." While highlighting the investment potential for Indian industry, Darkhan further said that in order to meet the needs of Indian tourists in Kazakhstan, it would be advisable to consider building a network of Indian hotels and restaurants in the major cities in Kazakhstan. "We invite major Indian investors to participate in implementing these initiatives in our country," he added. Geshan Dissanayake, Minister Commercial, High Commission of Sri Lanka in India said, "The strong shared heritage between India and Lanka forms the bedrock of our bilateral relationship. India alone stands out as a key source market for Sri Lanka. The integration of the Indian UPI payment system with 'LankaPay' has made simplified payment options for Indian tourists visiting Sri Lanka," he added. Dissanayake further stated that to fully realize the potential of outbound tourism there is a need to focus on marketing and promotion of various offerings by Sri Lanka; infrastructure development; promoting sustainable tourism and further streamlining the visa process. Working together, we can unlock the potential of outbound tourism between India and Sri Lanka," he added. Jyotsna Suri, Past President, of FICCI and CMD, The Lalit Suri Hospitality Group stated that any country has to have healthy inbound and outbound tourism. "<keyword id="644076" type="General" weightage="20" keywordseo="Indian-tourism" source="Orion">Indian tourism</keyword> has witnessed a major growth in the last few years and while we are at the threshold of massive growth, we must be cognizant of sustainability as well," she added. Ankush Nijhawan, Chairman, of FICCI Outbound Tourism Committee and Co-Founder, TBO.com and MD, of Nijhawan Group said that the global travel and tourism industry is expected to reach USD 2.6 trillion by 2027, growing at a CAGR of 8.2 per cent. "Traveler preferences are becoming increasingly diverse, and demand tailor-made travel services. Demographic boost, government support, increased connectivity, and niche segment growth are powering India's outbound travel boom," he added. Representatives from the Embassy of Madagascar to India, the Embassy of Georgia to India, the Malaysia Tourism Promotion Board, Singapore Tourism Board also shared their perspectives during the session.

Indian outbound tourism to reach USD 18817.72 million, grow at over 11% CAGR through 2034: FICCI-Nangia report

<ul class="summary-list"><li>Sicily, Italy, is in a state of emergency over the worst drought the country has seen in 20 years.</li><li>Water rations are so strict that hotel and inn owners are turning tourists away.</li></ul>An extreme drought in Sicily is the worst the <a target="_blank" href="https://www.businessinsider.com/things-to-know-change-trip-to-sicily-italy-2023-5">Italian island</a> has seen in 20 years, and it's so bad it's threatening the region's economy.The drought in Sicily has caused the local climate to mirror that of Ethiopia, UK outlet Sky News reported, causing a state of emergency, drying up lakes, and prompting officials to implement strict water rations.The rations are so strict — with some <a target="_blank" href="https://www.businessinsider.com/californians-sicily-italy-one-euro-homes-expensive-properties-true-cost-2024-1">residents</a> being asked to cut their water use by as much as 45% — it's prompting some hotel and inn owners to turn guests away because they cannot guarantee showers will run or toilets will flush, CNN reported."Rightly, people ask us for reassurances before coming, but we don't know what to say," Giovanni Lopez, who owns the Le Cinque Novelle bed and breakfast (B&amp;B) in central Agrigento, told CNN. "The situation is quickly impacting the entire tourist accommodation sector, which risks serious economic consequences, given that tourism is a sector almost everyone in this part of Sicily relies on."The economic impact is impossible to ignore — between empty reservoirs and livestock that have died due to the drought, CNN reported the region has lost more than a billion Euros, or nearly 1.1 billion USD.Representatives for <a target="_blank" href="https://www.businessinsider.com/mistakes-tourists-make-in-rome-italy-local-tips-2023-2">Italy's Ministry of Tourism</a> did not immediately respond to a request for comment from Business Insider. However, CNN reported that Italy's tourism minister, Daniela Santanchè, suggested in April that Sicily should attempt to expand its tourism beyond summer to address the region's worsening water crisis.In addition to the drought, numerous regions of Italy, including <a target="_blank" href="https://www.businessinsider.com/californians-sicily-italy-one-euro-homes-expensive-properties-true-cost-2024-1">Sicily,</a> are also facing population destabilization, prompting officials to offer <a target="_blank" href="https://www.businessinsider.com/italy-pays-to-move-tuscany-residence-in-mountains-2024-6">incentives to relocate</a> to its rural regions in hopes that new residents will help stabilize the population levels.

Massive drought in Italy threatens to destroy Sicilian tourism

New York [US], May 21 (ANI): International tourist arrivals and the <keyword id="2173225" type="General" weightage="100" keywordseo="travel-and-tourism" source="Orion">travel and tourism</keyword> sector's contribution to <keyword id="572312" type="General" weightage="20" keywordseo="global-GDP" source="Orion">global GDP</keyword> are expected to return to pre-pandemic levels this year, driven by the complete lifting of COVID-19-related <keyword id="19916662" type="General" weightage="20" keywordseo="travel" source="keywords">travel</keyword> restrictions and strong pent-up demand, as per the new <keyword id="20020435" type="General" weightage="20" keywordseo="World-Economic-Forum" source="keywords" meta.keywordsubtype="org" meta.entityname="World Economic Forum" meta.hostid="261" meta.entityid="World Economic Forum">World Economic Forum</keyword> travel and <keyword id="19997361" type="General" weightage="20" keywordseo="tourism" source="keywords">tourism</keyword> study, released on Tuesday. Topping the 2024 list of economies are the US, Spain, Japan, France and Australia. The Middle East had the highest recovery rates in international tourist arrivals - 20 per cent above the 2019 level, while Europe, Africa and the US all showed a strong recovery of around 90 per cent in 2023. <keyword id="21745194" type="General" weightage="20" keywordseo="Travel-and-Tourism-Development-Index-2024" source="Orion">Travel and Tourism Development Index 2024</keyword> (TTDI), a biennial report published in collaboration with the University of Surrey, analysed the travel and tourism sectors of 119 countries around a range of factors and policies. "This year marks a turning point for the travel and tourism sector, which we know has the capacity to unlock growth and serve communities through economic and social transformation," said Francisco Betti, Head of the Global Industries team at the World Economic Forum. "The report offers a forward-looking window into the current and future state of travel and tourism for leaders to navigate the latest trends in this complex sector and sustainably unlock its potential for communities and countries across the world." The <keyword id="840423" type="General" weightage="20" keywordseo="global-tourism" source="Orion">global tourism</keyword> industry is expected to recover from the lows of the COVID-19 pandemic and surpass the levels seen before the crisis. As per the report, this is largely being driven by a significant increase in demand worldwide, which has coincided with more available flights, better international openness, and increased interest and investment in natural and cultural attractions. However, the report painted that the global recovery has been mixed. While 71 of the 119 ranked economies increased their index scores since 2019. Although the sector has moved past the shock of the global health crisis, it continues to deal with other external challenges, from growing macroeconomic, geopolitical and environmental risks, to increased scrutiny of its sustainability practices. In addition, labour shortages are ongoing, and air route capacity, capital investment, productivity and other sector supply factors have not kept up with the increase in demand. This imbalance, worsened by global inflation, has increased prices and service issues. Out of the top 30 index scorers in 2024, 26 are high-income economies, 19 are based in Europe, seven are in Asia-Pacific, three are in the Americas and one (the United Arab Emirates) is in the Middle East and North Africa region (MENA). The top 10 countries in the 2024 edition are the United States, Spain, Japan, France, Australia, Germany, the United Kingdom, China, Italy and Switzerland. The results highlight that high-income economies generally continue to have more favourable conditions for travel and tourism development. This is helped by conducive business environments, dynamic labour markets, open travel policies, strong transport and tourism infrastructure, and well-developed natural, cultural and non-leisure attractions. "It's essential to bridge the divide between differing economies' ability to build a strong environment for their travel and tourism sector to thrive," said Iis Tussyadiah, Professor and Head of the School of Hospitality and Tourism Management at the University of Surrey. "The sector has big potential to foster prosperity and mitigate global risks, but that potential can only be fully realized through a strategic and inclusive approach." If managed strategically, the travel and tourism sector - which has historically represented 10 per cent of global GDP and employment - has the potential to emerge as a key contributor to growth, it said. (ANI)

Worldwide tourism and its contribution to global GDP to return to pre-COVID levels this year: WEF study

<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s rank on the <keyword id="20020435" type="General" weightage="20" keywordseo="World-Economic-Forum" source="keywords">World Economic Forum</keyword>'s <keyword id="21747126" type="General" weightage="20" keywordseo="Travel-Tourism-Development-Index-2024" source="Orion">Travel &amp; Tourism Development Index 2024</keyword> has risen to 39th place, with global tourism activities returning to pre-pandemic levels, the annual report showed on Tuesday. While the US topped the list, India is ranked highest in South Asia and among the lower-middle-income economies, the <keyword id="102110" type="General" weightage="20" keywordseo="WEF" source="Orion">WEF</keyword> said. India was ranked 54th in the previously published index in 2021, though changes made to the index parameters limit its comparability to earlier years. After the US, Spain, Japan, France and Australia figure among the top five in the 2024 list. The index, prepared in collaboration with the University of Surrey, showed India is highly price-competitive (18th) and boasts competitive Air Transport (26th) and Ground and Port (25th) infrastructure. In particular, India's strong Natural (6th), Cultural (9th) and Non-Leisure (9th) Resources help drive travel, and the country is only one of three to score in the top 10 for all the resource pillars, the WEF said. Moreover, despite a decline compared to 2019, the country still scores well for <keyword id="2173225" type="General" weightage="20" keywordseo="travel-and-tourism" source="Orion">travel and tourism</keyword> demand sustainability, especially thanks to more sustainable long stays among inbound visitors. It further said that as with many economies, travel and tourism enabling conditions in India have been impacted by global inflationary supply-side trends for the sector, with price competitiveness declining, while air transport and tourist services infrastructure are yet to recover to the 2019 level. As a result, the country's overall TTDI (Travel and Tourism Development Index) score is 2.1 per cent below its 2019 level. High-income economies in Europe and Asia-Pacific continued to lead the index. "International tourist arrivals and the travel and tourism sector's contribution to global GDP are expected to return to pre-pandemic levels this year, driven by the lifting of COVID-19-related travel restrictions and strong pent-up demand," the WEF said. The Middle East had the highest recovery rates in international tourist arrivals (20 per cent above the 2019 level), while Europe, Africa and the Americas all showed a strong recovery of around 90 per cent in 2023. The biennial index analysed the travel and tourism sectors of 119 countries around a range of factors and policies. Germany was ranked 6th, followed by the UK, China, Italy and Switzerland in the top ten. The results highlighted that high-income economies generally continue to have more favourable conditions for travel and tourism development. This was helped by conducive business environments, dynamic labour markets, open travel policies, strong transport and tourism infrastructure, and well-developed natural, cultural and non-leisure attractions.

India rises to rank 39th on WEF's Travel & Tourism Development Index 2024, becomes highest ranked South Asian nation

<ul class="summary-list"><li>I really enjoyed growing up in Barcelona but moved away 10 years ago.</li><li>I'd love to return to my home city, but the cost of living and many tourists make it difficult.</li></ul>I loved <a target="_blank" class="" href="https://www.businessinsider.com/surprising-things-moving-to-barcelona-spain-from-us-long-process-2024-3">growing up in Barcelona</a>.There's nothing like the shimmering Mediterranean Sea at the foot of the Collserola mountain range, its monuments celebrating Spanish and Catalan culture, the festivals steeped in centuries of tradition, and even its scars of the 1936 Civil War— bullet holes in walls and alleyways that stand eerily at chest height.From an early age, it was a playground for my friends and me, made accessible by a robust public transportation system and a low cost of living.Yet, in all my memories of beautiful parks and Gaudi-esque architecture soaked in near-eternal sunshine, I cannot remember the first time I saw the all-too-common graffiti that I see now: "Tourists go home."I moved out of Barcelona about 10 years ago, partly because of <a target="_blank" href="https://www.businessinsider.com/cities-hurt-by-tourism-2017-12">tourism's impact</a><a target="_blank" class="" href="https://www.businessinsider.com/cities-hurt-by-tourism-2017-12"> on locals</a>. Now, at 27, my parents and grandmother are aging, and I'm thinking of moving back.But the choice isn't easy, especially when it feels like Barcelona prioritizes visitors over residents.<h2 id="ce06b32d-2848-4a79-9014-2cffbe7afce9">Tourism has been booming for decades, but Barcelona has become too reliant on it</h2><div type="image" title="Tourists at Sagrada de Familia" height="683" width="1024" msid="112932533" hostid="261" sizebytes="87412"></div>Barcelona is a major tourism destination year-round, and it has been for a while. According to the <a target="_blank" class="" href="https://www.businessinsider.com/photos-of-protesters-rallying-against-overtourism-in-barcelona-2024-7">Barcelona Tourism Observatory</a>, the city received 15.6 million tourists alone last year.Tourism accounts for <a target="_blank" href="https://www.reuters.com/world/europe/barcelona-cannot-absorb-infinite-tourism-growth-needs-curbs-mayor-says-2024-07-23/">about 15% of the city's economy</a>, which is bad news for the many locals who aren't reaping the benefits of having millions of visitors in their home.Sure, tourism brings more jobs to Barcelona — but even if that was a career path I wanted to pursue, many of them aren't built to support the actual cost of living in the city.Research published in <a target="_blank" class="" href="https://www.paradigmpress.org/le/article/view/1206/1067">Paradigm Academic Press</a> in July found that the majority of new jobs in Barcelona's hospitality industry were only part time, and the average monthly wage in this sector is 1,200 euros or $1,327 — 300 euros less than the city's average wage.Meanwhile, Spanish newspaper <a target="_blank" class="" href="https://english.elpais.com/international/2024-02-24/when-it-comes-to-renting-in-barcelona-anything-goes-storage-rooms-storefronts-and-basements-cost-hundreds-a-month.html">El País</a>, citing official data, reported that the average monthly rent in Barcelona in the third quarter of 2023 was about 1,171 euros or $1,295.But housing has become an issue for workers across industries. Spain's housing crisis — worsened by many <a target="_blank" class="" href="https://www.reuters.com/markets/europe/spain-crack-down-holiday-rentals-address-housing-crisis-2024-07-03/">homes becoming Airbnbs</a> — means it's hard to find an affordable place to live.It's one of my concerns when I think of returning to Barcelona. Many of my friends must live with their parents well into their 30s because they're struggling to afford to rent an apartment with roommates.Some residents are also forced to split another limited essential resource: water.In <a target="_blank" class="" href="https://www.npr.org/2024/02/18/1232301986/in-spain-a-years-long-drought-is-pitting-locals-against-the-tourism-industry">recent years</a>, Barcelona and the <a target="_blank" class="" href="https://apnews.com/article/spain-drought-barcelona-climate-ba6f65b6ce01e3a7b081586e602a38e7">greater Catalonia region</a> have experienced and been vulnerable to droughts. <a target="_blank" class="" href="https://www.politico.eu/article/spain-barcelona-tourists-catalonia-anger-rain-water-drought">Water rationing</a> is becoming a new reality for many residents, who are expected to keep their resource usage low and limited while <a target="_blank" class="" href="https://www.reuters.com/world/europe/ahead-easter-rush-officials-say-drought-must-not-put-off-barcelona-tourists-2024-03-22/">hoping globetrotting guests</a> do the same.It's hard to imagine moving back to a place where residents' basic necessities are often sacrificed for a single industry.<h2 id="850bd518-51c1-4c35-b7a0-3cecaf49fe4b">Recent protests show how much urgent change is needed — and why I'm not sure I'm ready to go back</h2><div type="image" title="tourists not welcome sign in spain" height="683" width="1024" msid="112932532" hostid="261" sizebytes="61708"></div>Last month, friends sent me videos of the viral <a target="_blank" class="" href="https://www.businessinsider.com/photos-of-protesters-rallying-against-overtourism-in-barcelona-2024-7">anti-tourism protesters</a> squirting water pistols at tourists. The protesters echoed a sentiment shared by many residents: We need fewer tourists, especially in already overcrowded areas.Local politicians have taken some actions, like limiting the number of hotel beds allowed in Barcelona and raising the cruise tourist tax for those who spend less than 12 hours in the city.<a target="_blank" class="" href="https://apnews.com/article/barcelona-spain-tourist-apartments-154cf293078aa14c299e3539d90e9350">Barcelona City Hall</a> took action against short-term rentals like Airbnb when it announced it would not renew licenses allowing people to rent their apartments to tourists after they expire in 2028. This is partly to help residents deal with <a target="_blank" class="" href="https://www.reuters.com/world/europe/top-tourist-destination-barcelona-plans-shut-all-holiday-apartments-by-2028-2024-06-21/">rising rent</a> and real-estate costs.But we need faster changes and more <a target="_blank" class="" href="https://www.businessinsider.com/tourists-extend-vacations-fewer-longer-trips-more-sustainable-2024-5">sustainable tourism</a>, which starts with less tourism overall.I hope people can come and enjoy the beauty of my home city, but I want them to realize their impact and rise to the challenge of being a tourist in a city that is loved by too many.Maybe it starts with tourists prioritizing small businesses during their trips or <a target="_blank" class="" href="https://www.businessinsider.com/best-lesser-known-italy-travel-destinations-according-to-local">visiting lesser-known spots</a> in the city instead of areas that are already overwhelmed.As for myself, I'm hoping that residents' desire to reimagine Barcelona as it was — not a tourist destination or the backdrop of an Instagram photo, but as a living city — shapes the city's policies going forward.Perhaps it'll lead to positive changes — like more affordable housing and stable employment opportunities — so I can finally book a one-way ticket home.

I grew up in Barcelona and live in the US. I'd love to go home, but tourism is making life unbearable for locals.

India's diversified entity <keyword id="19896958" type="General" weightage="20" keywordseo="ITC" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC" meta.hostid="153" meta.entityid="ITC">ITC</keyword> plans to open more hotels overseas with neighbouring countries and the Middle East as primary target markets after opening of its first international property here, company Chairman and Managing Director <keyword id="20049280" type="General" weightage="20" keywordseo="Sanjiv-Puri" source="keywords">Sanjiv Puri</keyword> said on Thursday. The company's arm <keyword id="20032522" type="General" weightage="20" keywordseo="ITC-Hotels" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC Hotels" meta.hostid="153" meta.entityid="ITC Hotels">ITC Hotels</keyword>, which had opened 22 new properties in the last 24 months, plans to add another 70 hotels in the next five years in India as part of expansion plans in the <keyword id="20402233" type="General" weightage="20" keywordseo="hospitality-sector" source="keywords">hospitality sector</keyword>. Besides the hotels business, the company will look for opportunities to expand the presence of <keyword id="19931572" type="General" weightage="20" keywordseo="FMCG" source="keywords" meta.keywordsubtype="org" meta.entityname="FMCG" meta.hostid="153" meta.entityid="FMCG">FMCG</keyword> and other verticals in new overseas markets as well. "We are open to exploring opportunities that come about. I think we have strong credentials in hospitality which we can take outside India now. Very clearly at the moment the focus is on proximal markets, be it for hospitality, be it for FMCG...," Puri said here at a press conference after the opening of the 352-room luxury property, <keyword id="20911944" type="General" weightage="20" keywordseo="itc-ratnadipa" source="keywords">ITC Ratnadipa</keyword> here. He said as the company explores and understands a place for a particular business, it may look at it as a market for other verticals as well. Citing the example of Nepal, Puri said,"We started with other businesses and are now looking at hospitality (there). Here (in Sri Lanka) we have started with hospitality...as we explore and understand the place, we will look at possibilities in some of our other sectors as well." On overseas expansion of the hospitality business, while the company's focus is more on 'proximal markets', he said,"We are open to it if there are some interesting opportunities beyond it. We will certainly be interested in pursuing that." When asked if ITC is looking at the Middle East as a market for the hospitality business, he said it is a vibrant economy right now with terrific growth plans and "if opportunity comes our way then we will certainly explore that". Puri also said the company will look to expand in more destinations in Sri Lanka going forward. "This (opening of ITC Ratnadipa) is the starting point and yes, we want to expand and grow the economy and contribute to the development of tourism in Sri Lanka," he said. When asked about ITC's overall expansion plans in the hospitality sector, he said,"We have a very healthy pipeline of 70 hotels in five years." All these 70 hotels are for the Indian domestic market and most of them will be the upscale segments. He, however, said "(For) overseas we're just starting our journey. So we have not yet got to the stage to start putting a number right here." On investments planned for the overall expansion, he did not share a specific number but said "between renovation and new properties will spend somewhere between Rs 700 crore to Rs 1,000 crore a year". When asked about the progress of the demerger of ITC Hotels and its planned public listing, Puri said it is happening in line with the indicated timelines and is expected "before the second half of this year or the end of this year". At its new property here, the company had invested about USD 500 million. It was inaugurated on Thursday by Sri Lankan President Ranil Wickremesinghe. The ITC Ratnadipa or 'Island of Gems' has 352 guest rooms, suites and service apartments, each with private balconies with waterfront views. Earlier in the day, speaking at the opening of the new hotel, Puri said,"It is very natural for us to specifically focus on markets in proximal areas, encouraged also by our Prime Minister's (Narendra Modi) vision of neighbourhood first where Sri Lanka has a very special position. ITC is deeply committed to growing our presence and contributing to hospitality in the region." SEE ALSO:<a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

You Searched For "tourism sector" and got 8 results

India to introduce UPI payment service in Maldives

PTI

Israel's tourism industry is struggling under the weight of the war

Thibault Spirlet

Indian outbound tourism to reach USD 18817.72 million, grow at over 11% CAGR through 2034: FICCI-Nangia report

ANI

Massive drought in Italy threatens to destroy Sicilian tourism

Katherine Tangalakis-Lippert

Worldwide tourism and its contribution to global GDP to return to pre-COVID levels this year: WEF study

ANI

India rises to rank 39th on WEF's Travel & Tourism Development Index 2024, becomes highest ranked South Asian nation

PTI

I grew up in Barcelona and live in the US. I'd love to go home, but tourism is making life unbearable for locals.

Aina de Lapparent Alvarez

ITC plans to open more hotels overseas: CMD Sanjiv Puri

PTI

Popular Keywords

Buying Guides