New Delhi, Sept. 8 -- India's tourism and hospitality sector is set to witness record growth, with projections indicating the industry could reach nearly USD 60 billion by 2028, according to a report by IDBI Capital.

The report highlighted that domestic tourism will be the main driver of this growth. The number of domestic visitors is expected to double from 2.5 billion in 2024 to 5.2 billion by 2030, translating into a compound annual growth rate (CAGR) of 13.4 per cent.

It stated, "We remain positive on domestic hospitality space led by demand-supply mismatch, FTA, increased corporate travel, and MICE will aid RevPAR growth... Tourism and Hospitality Sector Poised for Record Growth, Projecting Nearly Sixty Billion by 2028."

The repor...