The growing Indian economy with the government’s tourism promotion schemes is leading to rapid growth in the tourism industry of the country.
The robust economic growth of India has benefitted its tourism industry immensely, said Mahajan & Aibara, Management Consultancy Services provider in tourism, as Express Hospitality reported.
Presently, the Indian tourism industry stands at about $16 Billion and is likely to reach nearly $26 Billion through 2010. The country is anticipated to see the arrival of 10 Million tourists during 2010 from only 5 Million in 2007. As far as outbound tourism is concerned, according to it is projected to rise at a CAGR of 13.30% from 2008 to 2012 due to rising personal disposable income of the Indians. Consequently, the Indian tourism industry is expected to contribute nearly 1.5% in the global tourism sector by 2010.
As per RNCOS analyst, the primary reason for the growth of the Indian tourism industry is the planned promotion of tourism sector by the Indian government. The Cruise Shipping Policy of India is approved by the Cabinet Committee on Economic Affairs. Also, with the availability of various private healthcare facilities for tourists, India is able to promote its medical tourism.
Moreover, individual state tourism of the country is promoting itself for further growth and to gain profits. For example, new tourism packages are being offered by Kerala at reasonable price. Various tea estates, such as West Bengal and Assam, are transforming their old British-built bungalows into luxury lodgings to attract tourists.
The growing tourism sector of the country is providing huge growth opportunities to both large and small scale tourism-related industries. This growth is also beneficial for hotel industry and travel agencies. The growing Indian tourism industry is going to promote contact between different people and thus, will improve the country’s friendly relations with other nations.
The RNCOS analyst said, “The new promotional initiatives by the government are boosting growth into the Indian tourism sector. The booming industry is bringing huge foreign currency and thus, leading to improvement in the country’s economic conditions. Also, growth in tourism sector will provide more employment opportunities in hotel and tourism industry.”
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