Thirty-nine million workers, or eight percent of the country’s employment rate, were in the tourism industry in 2020
The tourism and hospitality sector has become one of India’s economic growth drivers. The foreign exchange earnings increased at a CAGR of seven percent from 2016 to 2019. It declined in 2020 as a result of the COVID-19 pandemic.
Dr Abhay Sinha of the Services Export Promotion Council talked about boosting inbound tourism in the country in an exclusive interview with Financialexpress.com.
While inbound tourism witnessed a 74 percent decline, it is expected to recover soon.
He said that the organisation will be working closely with the Indian Association of Tour Operators (IATO), the Federation of Associations in Indian Tourism & Hospitality (FAITH), and other associations to launch a series of activities to provide a new lease on life to the tourism sector.
As the pandemic has impacted inbound tourism, the Ministry of Commerce’s Services Export Council proposes innovative ideas to increase inbound tourism, such as “Atithi,” which promotes India as a top global tourism destination.
Its core principle is to build an eco-system that is conducive to inbound tourism.
BW BusinessWorld mentioned that there have been suggestions made regarding the government fund allocated for the improvement of the tourism sector. High-end tourism, which involves the use of AI tools and metaverses, has the potential to attract wealthier visitors.
“Focus should be placed on improving the attractiveness of the India’s already strong offer and become the ‘World’s Meeting Place’, with the creating more business events, attracting more to our shores, and growing international audiences — leveraging the attendance of government to do so,” said the Rebuilding Tourism For the Future 2022 report, which was prepared by Nangia Andersen LLP in association with Ficci.
Thirty-nine million workers, or eight percent of the country’s employment rate, were in the tourism industry in 2020.
In 2019, India was placed 10th out of 185 nations in terms of the sector’s contribution to GDP.
The Property Report editors wrote this article. For more information, email: [email protected].
Meet the dynamic duo putting waste to work in Indonesia
Indonesian entrepreneurs Ovy Sabrina and Novita Tan have made a meaningful mark with their firm Rebricks
Wind power: The Philippines spearheads Asia’s clean energy revolution
The Philippines has set aside its history of rejecting renewables and is setting its sights on becoming the region’s top green power producer
Singapore explores electric avenues
The pace of installation and consumer sentiment are still lagging as Singapore aims to meet its 2030 EV ambitions
Arkitek MAA shapes the nation
The firm's knack for crafting landmark transport hubs and socially sustainable developments has established it as one of Malaysia’s foremost practices