Indian travel sector to hire 40 lakh by 2019

The country's travel and tourism sector is likely to hire over 40 lakh (4 million) people as the industry may attract capital investments worth $94.5 billion by 2019, says a study.

According to a joint study by Assocham and Yes Bank at present the industry employs less than 4 lakh (400,000) people. In 2008-09, it attracted capital investments of $5.3 billion.

The sector is expected to grow at more than 8 per cent per annum between 2011-19, it said. At present, it is growing at a rate of less than two per cent every year.

It said, the travel and tourism would finally transform not only the urban India, but also rural parts of the country.

"Agri tourism will be a special beneficiary of the development of tourism and travel industry. Agri tourism comprises agri museums, agriculture related festivals and fairs," it said.

Besides, the study said, this would provide opportunities to farmers to generate additional revenue.