New Delhi | 16 July 2026: The second edition of FAITH Conclave 2026 – “Incredible India: Invaluable Economics” commenced today at Taj Palace, New Delhi, bringing together policymakers, industry leaders, global tourism experts and hospitality stakeholders to deliberate on tourism’s expanding role in India’s socio-economic development. The two-day conclave, being held on 16-17 July 2026, aims to position tourism as a key driver of inclusive economic growth and national development.
The inaugural plenary session, titled “Unlocking India’s Tourism Economy,” featured distinguished speakers including Hon’ble Union Minister of Tourism Shri Gajendra Singh Shekhawat, Ms. Gloria Guevara, CEO, World Travel & Tourism Council (WTTC), Mr. Ajeet Bajaj, Vice Chairman, FAITH & Chairman, FAITH Conclave, Mr. Taranjit Singh Sandhu, Hon’ble Governor of Punjab, and Mr. Puneet Chhatwal, Chairman, FAITH. The discussion underscored the importance of policy reforms, public-private collaboration, and strategic investments in strengthening India’s tourism ecosystem.
Delivering the keynote presentation, Gloria Guevara shared the WTTC World Forecast for 2026, highlighting the sector’s strong global outlook. According to the forecast, Travel & Tourism GDP is expected to grow by 3.2% in 2026, outperforming the projected global GDP growth of 2.4%, reaffirming tourism as one of the world’s fastest-growing economic sectors. The industry is projected to contribute US$12 trillion to the global economy, representing 9.9% of global GDP, while supporting 376 million jobs worldwide, equivalent to 11.1% of total global employment.
The presentation also highlighted key travel spending trends that are shaping the industry’s future. Domestic tourism is expected to account for US$5.8 trillion, representing 73.5% of total travel spending, compared with US$2.1 trillion from international visitor spending. This demonstrates that domestic travel continues to be the backbone of the global tourism economy. Additionally, leisure travel is forecast to generate US$6.3 trillion, accounting for 80.5% of total travel expenditure, significantly outweighing business travel, which is projected at US$1.5 trillion. These projections reinforce the growing importance of leisure tourism and strong domestic markets in sustaining long-term industry growth.
The insights presented during the session carry significant implications for India. As one of the world’s fastest-growing travel markets, India has an opportunity to leverage its expanding domestic tourism base, invest in tourism infrastructure, strengthen convention and exhibition facilities, and enhance destination marketing to capture a larger share of the projected US$12 trillion global tourism economy. The discussions also emphasized tourism’s potential to generate employment, stimulate MSME growth, attract investments and contribute meaningfully to the country’s overall economic development.
Organised by the Federation of Associations in Indian Tourism & Hospitality (FAITH), the conclave is expected to witness participation from senior Cabinet Ministers, state governments, tourism boards, hospitality leaders, travel companies and business decision-makers from across the country. The event continues the momentum created by the inaugural FAITH Conclave in 2025, further strengthening collaboration between the government and industry to accelerate India’s tourism growth.
The conclave will conclude on 17 July with a series of high-level policy discussions, leadership dialogues and strategic sessions aimed at charting a roadmap for making tourism a stronger pillar of India’s economic future.
