New Delhi, April 7: TUI AG, the leading European tourism company, today announced its entry into the Indian market by acquiring a 50 per cent stake in Le-Passage to India Limited (a destination management company).

The agreement, which was signed by Michael Frenzel, TUI chairman, and Arjun Sharma, chairman and MD of Le-Passage, will give the former a 50 per cent share in the incoming agency.

?The 50-50 joint venture of Le-Passage and TUI AG provides a huge impetus for the promotion of tourism to India as a source market. The joint venture will give further thrust to the existing inbound business of Le-Passage and envisages a rapid role out of various domestic and outbound products for the Indian traveller,? said Sharma.

The World Tourism Organisation (WTO) forecasts higher-than-average travel activity for India. According to the WTO figures, the number of Indian tourists will increase every year by around 10 per cent.