Indian Tourism Infrastructure
INDIAN TOURISM INFRASTRUCTURE InvestmentINDIAN TOURISM INFRASTRUCTUREOppor -tunities Investment Opportunities & & Challenges Challenges 1 2 INDIAN TOURISM INFRASTRUCTURE - Investment Opportunities & Challenges Acknowledgement We extend our sincere gratitude to Shri Vinod Zutshi, Secretary (Former), Ministry of Tourism, Government of India for his contribution and support for preparing the report. INDIAN TOURISM INFRASTRUCTURE - Investment Opportunities & Challenges 3 4 INDIAN TOURISM INFRASTRUCTURE - Investment Opportunities & Challenges FOREWORD Travel and tourism, the largest service industry in India was worth US$234bn in 2018 – a 19% year- on-year increase – the third largest foreign exchange earner for India with a 17.9% growth in Foreign Exchange Earnings (in Rupee Terms) in March 2018 over March 2017. According to The World Travel and Tourism Council, tourism generated ₹16.91 lakh crore (US$240 billion) or 9.2% of India’s GDP in 2018 and supported 42.673 million jobs, 8.1% of its total employment. The sector is predicted to grow at an annual rate of 6.9% to ₹32.05 lakh crore (US$460 billion) by 2028 (9.9% of GDP). The Ministry has been actively working towards the development of quality tourism infrastructure at various tourist destinations and circuits in the States / Union Territories by sanctioning expenditure budgets across schemes like SWADESH DARSHAN and PRASHAD. The Ministry of Tourism has been actively promoting India as a 365 days tourist destination with the introduction of niche tourism products in the country like Cruise, Adventure, Medical, Wellness, Golf, Polo, MICE Tourism, Eco-tourism, Film Tourism, Sustainable Tourism, etc. to overcome ‘seasonality’ challenge in tourism. I am pleased to present the FICCI Knowledge Report “Indian Tourism Infrastructure : Investment Opportunities & Challenges” which highlights the current scenario, key facts and figures pertaining to the tourism sector in India.
[Show full text]