Maharashtra Economic Development Council, Monthly Economic Digest February 2017
Tourism is an activity difficult to define and more difficult to comprehend in view of its complexities. It is not a product nor a service but a rare blend of both or neither. In simple terms and as best understood it is travel for an objective - be it leisure, business or other purposes. I call it a unique experience through the combination of multitudes of objects bordering from the mundane to the spectacular under its umbrella. More than its definition it is important to know that this amalgam has the capability to deliver an experience which only can be felt by the traveling mass that are ever ready to savor its glory.
The document provides an overview of the global and Indian travel and tourism sector. Some key points:
- Travel and tourism contributed 10.2% to global GDP and supported 29.2 crore jobs globally in 2016. India is expected to become the 4th largest travel economy by 2027.
- In India, travel and tourism contributed 9.6% of GDP and supported 40.3 crore jobs in 2016. The sector is forecasted to grow at 6.7% annually through 2027.
- The Indian government has launched several initiatives like Swadesh Darshan and PRASAD to develop tourism infrastructure and promote domestic and religious tourism in the country.
India has 28 world heritage sites and 25 bio-geographic zones. The country’s big coastline provides a number of attractive beaches, diverse offerings such as adventure, rural and wildlife tourism.
India ranked 12th among 184 countries in terms of travel & tourism’s total contribution to Gross Domestic Product (GDP) in 2012. The sector’s direct contribution to GDP totalled US$ 34.7 billion in 2012 and is expected to grow to US$ 40.8 billion in 2013. Over 2013–23, the direct contribution is expected to register a growth of 7.8 per cent per annum.
Over 6.6 million foreign tourist arrivals (FTAs) were reported in 2012, expanding at compounded annual growth rate (CAGR) of 7.8 per cent during 2005-12. The total foreign exchange earnings (FEEs) from tourism grew over US$ 17.7 billion in 2012, registering a CAGR of 13.1 per cent during 2005-12. In February 2013, FEEs increased by 11.4 per cent to reach US$ 3.4 billion from US$ 3.1 billion in the same period in 2012.
Strong growth in per capita income in the country is driving the domestic tourism market. A shift in demographics with rising young population (coupled with changing lifestyles) is leading to greater expenditure on leisure services. The tourism policy of Government of India (GOI) aims at speedy implementation of tourism projects, development of integrated tourism circuits, special capacity building in the hospitality sector and new marketing strategies. In the hotel and tourism sector, the government has also allowed 100 per cent foreign direct investment (FDI) through automatic route.
Growth and development of indian tourism and ministry of tourismKalyan S Patil
The Indian tourism and hospitality industry has significant growth potential and is a major employment generator. It is expected to generate over 13 million jobs. The government has implemented several initiatives to boost tourism such as increasing the number of countries under the e-visa scheme, approving infrastructure projects, and organizing tourism investment summits. Foreign tourist arrivals and earnings have grown in recent years, supported by India's rising middle class. The Ministry of Tourism is the nodal agency that facilitates tourism growth through various policies, planning, promotion, and coordination activities.
"• National Financial Services Operation hub
• Regional/Functional head quarters for financial service players
• National headquarters for players
• Private banking hub for NRIs/Regional HNWs
• International Micro-finance hub
• International commodity trade hub
• Participation in global capital markets
• Global hub for IT services for financial services sector
• Global hub for BPO services for financial services sector
This document discusses India's inbound tourism potential and opportunities for growth. It notes that India has emerged as a tourism powerhouse in recent years as the 8th largest country in terms of travel and tourism GDP contributions. Inbound tourism involves people traveling to a country other than their own for tourism purposes, and many countries rely on it. India is rich in religious sites, culture, heritage sites for Hinduism, Buddhism, and Jainism that attract religious pilgrims. Inbound tourism is important for India's development as it generates government revenue, improves infrastructure, and provides employment. It is also an opportunity for growth as it spreads tourism spending throughout the year and exposes India's offerings to a global audience through marketing networks. States like Raj
This document provides an overview and key facts about the tourism and hospitality industry in India in 2013. Some of the key points summarized are:
- Foreign tourist arrivals grew 2.8% to 66.95 lacs in 2012-2013, with the US, UK, and Bangladesh being the top source countries. Foreign exchange earnings grew 19.1% to Rs. 99,594 crores.
- Domestic tourist visits grew 19.9% to 1036 million in 2012. Andhra Pradesh had the highest visits with 206.8 million.
- Foreign direct investment in the sector reached an all-time high of Rs. 17,777 crores in 2012-2013, a 274% increase over the
This document discusses foreign direct investment (FDI) in the tourism industry in India. It provides background on the importance of tourism to the Indian economy, noting that tourism contributes over 6% to GDP and supports millions of jobs. The paper examines the positive and negative impacts of tourism development as well as the need to attract more FDI into the sector. It recommends measures to do so, such as rationalizing taxes, establishing single-window clearances, increasing tax holidays, and adjusting depreciation rates to incentivize environmental protection. The overall aim is to leverage FDI to further develop tourism and realize its economic and employment benefits.
The document summarizes tourism's role in the Indian economy. It notes that tourism contributes substantially to India's GDP and employment. The number of foreign tourists visiting India grew 24% in 2004 to over 3 million. Tourism is linked to many other industries like transportation, real estate, and handicrafts. While tourism benefits the economy, some money spent on tourism "leaks" out of India when the country imports goods or foreign investors are involved. The government is taking steps to promote tourism through improved infrastructure and marketing.
The document provides an overview of the global and Indian travel and tourism sector. Some key points:
- Travel and tourism contributed 10.2% to global GDP and supported 29.2 crore jobs globally in 2016. India is expected to become the 4th largest travel economy by 2027.
- In India, travel and tourism contributed 9.6% of GDP and supported 40.3 crore jobs in 2016. The sector is forecasted to grow at 6.7% annually through 2027.
- The Indian government has launched several initiatives like Swadesh Darshan and PRASAD to develop tourism infrastructure and promote domestic and religious tourism in the country.
India has 28 world heritage sites and 25 bio-geographic zones. The country’s big coastline provides a number of attractive beaches, diverse offerings such as adventure, rural and wildlife tourism.
India ranked 12th among 184 countries in terms of travel & tourism’s total contribution to Gross Domestic Product (GDP) in 2012. The sector’s direct contribution to GDP totalled US$ 34.7 billion in 2012 and is expected to grow to US$ 40.8 billion in 2013. Over 2013–23, the direct contribution is expected to register a growth of 7.8 per cent per annum.
Over 6.6 million foreign tourist arrivals (FTAs) were reported in 2012, expanding at compounded annual growth rate (CAGR) of 7.8 per cent during 2005-12. The total foreign exchange earnings (FEEs) from tourism grew over US$ 17.7 billion in 2012, registering a CAGR of 13.1 per cent during 2005-12. In February 2013, FEEs increased by 11.4 per cent to reach US$ 3.4 billion from US$ 3.1 billion in the same period in 2012.
Strong growth in per capita income in the country is driving the domestic tourism market. A shift in demographics with rising young population (coupled with changing lifestyles) is leading to greater expenditure on leisure services. The tourism policy of Government of India (GOI) aims at speedy implementation of tourism projects, development of integrated tourism circuits, special capacity building in the hospitality sector and new marketing strategies. In the hotel and tourism sector, the government has also allowed 100 per cent foreign direct investment (FDI) through automatic route.
Growth and development of indian tourism and ministry of tourismKalyan S Patil
The Indian tourism and hospitality industry has significant growth potential and is a major employment generator. It is expected to generate over 13 million jobs. The government has implemented several initiatives to boost tourism such as increasing the number of countries under the e-visa scheme, approving infrastructure projects, and organizing tourism investment summits. Foreign tourist arrivals and earnings have grown in recent years, supported by India's rising middle class. The Ministry of Tourism is the nodal agency that facilitates tourism growth through various policies, planning, promotion, and coordination activities.
"• National Financial Services Operation hub
• Regional/Functional head quarters for financial service players
• National headquarters for players
• Private banking hub for NRIs/Regional HNWs
• International Micro-finance hub
• International commodity trade hub
• Participation in global capital markets
• Global hub for IT services for financial services sector
• Global hub for BPO services for financial services sector
This document discusses India's inbound tourism potential and opportunities for growth. It notes that India has emerged as a tourism powerhouse in recent years as the 8th largest country in terms of travel and tourism GDP contributions. Inbound tourism involves people traveling to a country other than their own for tourism purposes, and many countries rely on it. India is rich in religious sites, culture, heritage sites for Hinduism, Buddhism, and Jainism that attract religious pilgrims. Inbound tourism is important for India's development as it generates government revenue, improves infrastructure, and provides employment. It is also an opportunity for growth as it spreads tourism spending throughout the year and exposes India's offerings to a global audience through marketing networks. States like Raj
This document provides an overview and key facts about the tourism and hospitality industry in India in 2013. Some of the key points summarized are:
- Foreign tourist arrivals grew 2.8% to 66.95 lacs in 2012-2013, with the US, UK, and Bangladesh being the top source countries. Foreign exchange earnings grew 19.1% to Rs. 99,594 crores.
- Domestic tourist visits grew 19.9% to 1036 million in 2012. Andhra Pradesh had the highest visits with 206.8 million.
- Foreign direct investment in the sector reached an all-time high of Rs. 17,777 crores in 2012-2013, a 274% increase over the
This document discusses foreign direct investment (FDI) in the tourism industry in India. It provides background on the importance of tourism to the Indian economy, noting that tourism contributes over 6% to GDP and supports millions of jobs. The paper examines the positive and negative impacts of tourism development as well as the need to attract more FDI into the sector. It recommends measures to do so, such as rationalizing taxes, establishing single-window clearances, increasing tax holidays, and adjusting depreciation rates to incentivize environmental protection. The overall aim is to leverage FDI to further develop tourism and realize its economic and employment benefits.
The document summarizes tourism's role in the Indian economy. It notes that tourism contributes substantially to India's GDP and employment. The number of foreign tourists visiting India grew 24% in 2004 to over 3 million. Tourism is linked to many other industries like transportation, real estate, and handicrafts. While tourism benefits the economy, some money spent on tourism "leaks" out of India when the country imports goods or foreign investors are involved. The government is taking steps to promote tourism through improved infrastructure and marketing.
The document provides an overview of the tourism and hospitality industry in India. Some key points:
- India's tourism industry has grown significantly in recent years and is a major contributor to the country's GDP and employment. Foreign tourist arrivals reached 10.55 million in 2018.
- Domestic tourism will be a major driver of future growth in the sector. Spending from domestic travelers is expected to account for around 88% of total tourism spending by 2028.
- The government has implemented several initiatives like e-visas and infrastructure development schemes to boost tourism. Emerging areas like wellness, cruises, and adventure tourism are growing segments.
Indian Tourism Sector and Union Budget 2011The Other Home
India travel market is growing at the rapid pace. However, the recent budget announcement may negatively impact the growth of Tourism Sector in India. The presentation tries to highlight the key statistics of Indian Travel and Tourism Market and Union Budget 2011-12 from the industry perspective.
This document contains the draft National Tourism Policy 2015 of India. Some key points:
1. The vision is to develop India as a "Must Experience" and "Must Revisit" destination for global travelers while also encouraging domestic tourism.
2. Objectives include increasing India's share of international tourist arrivals to 1% by 2020 and 2% by 2025, positioning tourism as a priority on the national agenda, and focusing on benefits for local communities and environments.
3. The policy outlines strategies for improving governance, developing tourism products, investing in infrastructure, enhancing skills, promoting certification, leveraging IT, undertaking promotion and marketing activities, and fostering international cooperation to achieve the goals.
The Strength, Weakness, Opportunity and Threat Level in Tourism Relations bet...Dr. Ali Alalmai
This document analyzes the strengths, weaknesses, opportunities, and threats (SWOT) of tourism relations between India and Saudi Arabia. It provides background on tourism in each country, including key statistics on visitation and economic impact. India sees over 10 million foreign tourist arrivals annually, while Saudi Arabia is investing $54 billion by 2030 to develop its tourism sector beyond religious pilgrimages. The bilateral relationship between the two countries is described as centuries-old and strengthened by high-level visits and economic ties. A SWOT analysis is then presented for Indian tourism to Saudi Arabia, identifying cultural attractions, infrastructure development, and historical ties as strengths, but also religious restrictions, perceptions, and limited marketing as weaknesses and threats. The study
Tourism industry effect on southeast asia countries economic developmentLionRajsajeevanVickn
The document discusses how the tourism industry impacts the economic development of Southeast Asian countries. It notes that tourism has become a key economic activity and driver of growth in the region. The tourism industry provides foreign exchange earnings and jobs. It benefits economies at both the national level through exports and government revenue, and at the local level through income, employment, and regional development. While tourism offers economic advantages, it also poses environmental and social challenges that must be managed sustainably. The document then examines the tourism industry and its economic impact in specific Southeast Asian countries like Brunei, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, and Singapore.
The Indian tourism industry contributes significantly to the Indian economy through foreign exchange earnings, employment generation, and linkages with other sectors. India receives over 6 million foreign tourist arrivals annually and is poised to become the second fastest growing tourism economy in the world. However, India has untapped potential given its rich cultural and religious heritage across its towns, villages, hills, and other natural attractions. Challenges like infrastructure and political risks must be addressed to further develop the tourism industry in India.
Research Project on tourism sector India
Following are Analysis used for research
1. Porter's 5 forces theory
2. Value chain of Tourism Companies
3. PESTAL analysis
4. Top 5 tourism companies in India
problem and prospect in tourism with special reference to pauri garhwalsaurav rawat
This document discusses tourism in the Pauri district of Uttarakhand, India. It provides background on tourism in India and Uttarakhand generally. It then focuses on Pauri, describing the local economy, climate, and key tourist attractions in the area like temples and viewpoints. Some of the main challenges discussed are the lack of adequate tourism infrastructure and over-reliance on religious tourism to the Char Dham circuit, which does not benefit all parts of the state equally. Environmental issues related to tourism are also mentioned, such as forest fires. The document analyzes opportunities and challenges for sustainable tourism development in Pauri.
The document provides an overview of the tourism and hospitality sector in India. Some key points:
- India's tourism sector is growing rapidly and is expected to contribute increasingly to the country's GDP in the coming years. The sector's direct contribution to GDP was $71.53 billion in 2016 and is projected to reach $147.96 billion by 2027.
- Foreign tourist arrivals in India have been rising steadily, reaching 8.8 million in 2016. The number is projected to increase to 15.3 million by 2025.
- The tourism sector supports a large number of jobs in India, accounting for about 9% of total employment. Employment opportunities from tourism are expected to grow significantly.
This document discusses opportunities in the hospitality and tourism sector in India. It notes that the Indian government has formulated policies to promote tourism based on the principle of "Guest is God" and aims to ensure visitors are refreshed culturally, mentally, physically and spiritually. The tourism sector encourages other industries and generates employment. The number of foreign tourist arrivals in India grew by 8.9% in 2011. To further increase tourism, the government needs strategies to integrate stakeholders and create an environment where the industry can prosper.
Role of tourism industry in generating foreign exchangeDharmik
The document discusses the role of tourism industry in generating foreign exchange. It begins by defining foreign exchange as money from one country being exchanged for another, enabling international transactions. It then discusses India's growing foreign exchange reserves. Tourism is considered a large foreign exchange earner when foreign tourists spend money in India. The tourism industry is the largest export industry in the world and is a major earner of foreign exchange for many countries. India has significant tourism potential and witnessed over 2.75 million foreign tourist arrivals in 2001, with the industry being a large employment generator.
The document discusses tourism in Nepal and provides an analysis of Hyatt Regency hotel in Kathmandu. It begins with background on Nepal's tourism industry and objectives of Visit Nepal 2011 campaign. It then provides details on Hyatt Regency's mission, services, rates, and SWOT analysis. Porter's five forces model and value chain are applied to analyze Hyatt's business. The document concludes that Visit Nepal 2011 aims to improve tourism infrastructure and attract more quality visitors to support Nepal's economy.
The document outlines the Andhra Pradesh Tourism Policy 2010. It discusses establishing institutional arrangements like the State Tourism Promotion Board and State Tourism Promotion Committee to oversee tourism development. It emphasizes involving the private sector in developing tourism products through public-private partnerships. The policy also aims to position Andhra Pradesh competitively for investments, promote tourism across the state not just a few destinations, and maximize job creation in the sector.
This document provides an overview of tourism in India and discusses the topic of aesthetic pollution. It begins with an introduction to tourism, outlining its economic and social impacts. It then discusses the history of tourism policy development in India, from the first tourism policy in 1982 to the current "Incredible India" campaign. The document also provides statistical information on foreign tourist arrivals and earnings in India from 2000-2010. It notes that while tourism growth has been impressive, India's share of global tourism is still quite small. The document concludes by introducing the topic of aesthetic pollution and its economic consequences.
India Outbound Tourism Market and Forecast to 2018iGATE RESEARCH
The document provides an overview and analysis of the Indian outbound tourism market. It finds that despite economic issues, outbound tourism from India has continued to grow rapidly, making India the second largest outbound tourism market after China. Thailand is the most popular destination for Indian travelers, followed by Singapore, the United States, and China. The document then provides detailed analysis of tourist visits, spending, purposes of visits, and forecasts for the top 15 destination countries as well as emerging countries. It identifies low cost carriers and countries opening visa policies as key drivers of continued growth in Indian outbound tourism.
Dissertation fdi-foreign-direct-investmentTutors India
We write abstract for your master’s dissertation which would approximately contain 250 to 350 words. We complete the abstract after the full dissertation has been written that includes a brief summary of introduction or background, objectives, boundaries, methodology, the results of the dissertation research, main conclusion that you arrive, and recommendations
India's tourism and hospitality sector is growing rapidly. Some key points:
1) The sector's direct contribution to GDP is expected to grow by 7.9% annually during 2016-2026, above the world average. It accounted for 9.3% of India's total employment in 2016.
2) Foreign tourist arrivals to India are rising, with 10.2 million tourists visiting in 2017, a 15.6% increase from 2016. Foreign exchange earnings from tourism grew by 20.8% to $27.7 billion in 2017.
3) The travel and tourism sector's total contribution to GDP was estimated at $208.9 billion in 2016, or 9.6% of India's
The document provides an overview of India's tourism sector, including its present situation and future outlook. Currently, tourism accounts for approximately 6% of India's GDP and has maintained this share over the past few years. India's tourism sector is among the top 5 largest and fastest growing in emerging economies globally. Domestic tourist visits comprise 98% of total visits and have grown at 15% annually in recent years. Key segments include business travel at 40% and leisure travel also at 40%. Infrastructure development is cited as the top area for improvement according to tourist satisfaction surveys. The future outlook is positive - tourism is forecast to grow at around 7% annually through 2024, making it one of the fastest growing sectors in India. Rising incomes and
Foreign tourists arriving in the country bring foreign currency along with them.
Foreign Exchange Earnings from tourism are the receipts of the country as a result of the foreign tourists consuming various services in the country, out of the foreign currency brought by them
Consumption comprises of various things such as payments made for purchase of handicrafts or any other goods, payments made to the hotel of their stay or to a cab driver to travel from one place to another etc.
An increase in demand of services by foreign tourists helps in the growth of many sectors such as hotels, airlines, restaurants, cab services etc.
AIRDA aims to protect timeshare customers through initiatives like guidelines for accurate advertising, providing information to help buyers make informed decisions, encouraging fair business practices within the industry, assisting with complaints resolution between customers and developers, and promoting customer satisfaction, which benefits both customers and resort owners.
Este documento presenta una introducción a la cinemática de partículas en mecánica de sólidos. Explica conceptos como posición, velocidad, aceleración y cómo se calculan. También incluye un ejemplo numérico para calcular la velocidad y aceleración a partir de una ecuación de movimiento.
The document provides an overview of the tourism and hospitality industry in India. Some key points:
- India's tourism industry has grown significantly in recent years and is a major contributor to the country's GDP and employment. Foreign tourist arrivals reached 10.55 million in 2018.
- Domestic tourism will be a major driver of future growth in the sector. Spending from domestic travelers is expected to account for around 88% of total tourism spending by 2028.
- The government has implemented several initiatives like e-visas and infrastructure development schemes to boost tourism. Emerging areas like wellness, cruises, and adventure tourism are growing segments.
Indian Tourism Sector and Union Budget 2011The Other Home
India travel market is growing at the rapid pace. However, the recent budget announcement may negatively impact the growth of Tourism Sector in India. The presentation tries to highlight the key statistics of Indian Travel and Tourism Market and Union Budget 2011-12 from the industry perspective.
This document contains the draft National Tourism Policy 2015 of India. Some key points:
1. The vision is to develop India as a "Must Experience" and "Must Revisit" destination for global travelers while also encouraging domestic tourism.
2. Objectives include increasing India's share of international tourist arrivals to 1% by 2020 and 2% by 2025, positioning tourism as a priority on the national agenda, and focusing on benefits for local communities and environments.
3. The policy outlines strategies for improving governance, developing tourism products, investing in infrastructure, enhancing skills, promoting certification, leveraging IT, undertaking promotion and marketing activities, and fostering international cooperation to achieve the goals.
The Strength, Weakness, Opportunity and Threat Level in Tourism Relations bet...Dr. Ali Alalmai
This document analyzes the strengths, weaknesses, opportunities, and threats (SWOT) of tourism relations between India and Saudi Arabia. It provides background on tourism in each country, including key statistics on visitation and economic impact. India sees over 10 million foreign tourist arrivals annually, while Saudi Arabia is investing $54 billion by 2030 to develop its tourism sector beyond religious pilgrimages. The bilateral relationship between the two countries is described as centuries-old and strengthened by high-level visits and economic ties. A SWOT analysis is then presented for Indian tourism to Saudi Arabia, identifying cultural attractions, infrastructure development, and historical ties as strengths, but also religious restrictions, perceptions, and limited marketing as weaknesses and threats. The study
Tourism industry effect on southeast asia countries economic developmentLionRajsajeevanVickn
The document discusses how the tourism industry impacts the economic development of Southeast Asian countries. It notes that tourism has become a key economic activity and driver of growth in the region. The tourism industry provides foreign exchange earnings and jobs. It benefits economies at both the national level through exports and government revenue, and at the local level through income, employment, and regional development. While tourism offers economic advantages, it also poses environmental and social challenges that must be managed sustainably. The document then examines the tourism industry and its economic impact in specific Southeast Asian countries like Brunei, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, and Singapore.
The Indian tourism industry contributes significantly to the Indian economy through foreign exchange earnings, employment generation, and linkages with other sectors. India receives over 6 million foreign tourist arrivals annually and is poised to become the second fastest growing tourism economy in the world. However, India has untapped potential given its rich cultural and religious heritage across its towns, villages, hills, and other natural attractions. Challenges like infrastructure and political risks must be addressed to further develop the tourism industry in India.
Research Project on tourism sector India
Following are Analysis used for research
1. Porter's 5 forces theory
2. Value chain of Tourism Companies
3. PESTAL analysis
4. Top 5 tourism companies in India
problem and prospect in tourism with special reference to pauri garhwalsaurav rawat
This document discusses tourism in the Pauri district of Uttarakhand, India. It provides background on tourism in India and Uttarakhand generally. It then focuses on Pauri, describing the local economy, climate, and key tourist attractions in the area like temples and viewpoints. Some of the main challenges discussed are the lack of adequate tourism infrastructure and over-reliance on religious tourism to the Char Dham circuit, which does not benefit all parts of the state equally. Environmental issues related to tourism are also mentioned, such as forest fires. The document analyzes opportunities and challenges for sustainable tourism development in Pauri.
The document provides an overview of the tourism and hospitality sector in India. Some key points:
- India's tourism sector is growing rapidly and is expected to contribute increasingly to the country's GDP in the coming years. The sector's direct contribution to GDP was $71.53 billion in 2016 and is projected to reach $147.96 billion by 2027.
- Foreign tourist arrivals in India have been rising steadily, reaching 8.8 million in 2016. The number is projected to increase to 15.3 million by 2025.
- The tourism sector supports a large number of jobs in India, accounting for about 9% of total employment. Employment opportunities from tourism are expected to grow significantly.
This document discusses opportunities in the hospitality and tourism sector in India. It notes that the Indian government has formulated policies to promote tourism based on the principle of "Guest is God" and aims to ensure visitors are refreshed culturally, mentally, physically and spiritually. The tourism sector encourages other industries and generates employment. The number of foreign tourist arrivals in India grew by 8.9% in 2011. To further increase tourism, the government needs strategies to integrate stakeholders and create an environment where the industry can prosper.
Role of tourism industry in generating foreign exchangeDharmik
The document discusses the role of tourism industry in generating foreign exchange. It begins by defining foreign exchange as money from one country being exchanged for another, enabling international transactions. It then discusses India's growing foreign exchange reserves. Tourism is considered a large foreign exchange earner when foreign tourists spend money in India. The tourism industry is the largest export industry in the world and is a major earner of foreign exchange for many countries. India has significant tourism potential and witnessed over 2.75 million foreign tourist arrivals in 2001, with the industry being a large employment generator.
The document discusses tourism in Nepal and provides an analysis of Hyatt Regency hotel in Kathmandu. It begins with background on Nepal's tourism industry and objectives of Visit Nepal 2011 campaign. It then provides details on Hyatt Regency's mission, services, rates, and SWOT analysis. Porter's five forces model and value chain are applied to analyze Hyatt's business. The document concludes that Visit Nepal 2011 aims to improve tourism infrastructure and attract more quality visitors to support Nepal's economy.
The document outlines the Andhra Pradesh Tourism Policy 2010. It discusses establishing institutional arrangements like the State Tourism Promotion Board and State Tourism Promotion Committee to oversee tourism development. It emphasizes involving the private sector in developing tourism products through public-private partnerships. The policy also aims to position Andhra Pradesh competitively for investments, promote tourism across the state not just a few destinations, and maximize job creation in the sector.
This document provides an overview of tourism in India and discusses the topic of aesthetic pollution. It begins with an introduction to tourism, outlining its economic and social impacts. It then discusses the history of tourism policy development in India, from the first tourism policy in 1982 to the current "Incredible India" campaign. The document also provides statistical information on foreign tourist arrivals and earnings in India from 2000-2010. It notes that while tourism growth has been impressive, India's share of global tourism is still quite small. The document concludes by introducing the topic of aesthetic pollution and its economic consequences.
India Outbound Tourism Market and Forecast to 2018iGATE RESEARCH
The document provides an overview and analysis of the Indian outbound tourism market. It finds that despite economic issues, outbound tourism from India has continued to grow rapidly, making India the second largest outbound tourism market after China. Thailand is the most popular destination for Indian travelers, followed by Singapore, the United States, and China. The document then provides detailed analysis of tourist visits, spending, purposes of visits, and forecasts for the top 15 destination countries as well as emerging countries. It identifies low cost carriers and countries opening visa policies as key drivers of continued growth in Indian outbound tourism.
Dissertation fdi-foreign-direct-investmentTutors India
We write abstract for your master’s dissertation which would approximately contain 250 to 350 words. We complete the abstract after the full dissertation has been written that includes a brief summary of introduction or background, objectives, boundaries, methodology, the results of the dissertation research, main conclusion that you arrive, and recommendations
India's tourism and hospitality sector is growing rapidly. Some key points:
1) The sector's direct contribution to GDP is expected to grow by 7.9% annually during 2016-2026, above the world average. It accounted for 9.3% of India's total employment in 2016.
2) Foreign tourist arrivals to India are rising, with 10.2 million tourists visiting in 2017, a 15.6% increase from 2016. Foreign exchange earnings from tourism grew by 20.8% to $27.7 billion in 2017.
3) The travel and tourism sector's total contribution to GDP was estimated at $208.9 billion in 2016, or 9.6% of India's
The document provides an overview of India's tourism sector, including its present situation and future outlook. Currently, tourism accounts for approximately 6% of India's GDP and has maintained this share over the past few years. India's tourism sector is among the top 5 largest and fastest growing in emerging economies globally. Domestic tourist visits comprise 98% of total visits and have grown at 15% annually in recent years. Key segments include business travel at 40% and leisure travel also at 40%. Infrastructure development is cited as the top area for improvement according to tourist satisfaction surveys. The future outlook is positive - tourism is forecast to grow at around 7% annually through 2024, making it one of the fastest growing sectors in India. Rising incomes and
Foreign tourists arriving in the country bring foreign currency along with them.
Foreign Exchange Earnings from tourism are the receipts of the country as a result of the foreign tourists consuming various services in the country, out of the foreign currency brought by them
Consumption comprises of various things such as payments made for purchase of handicrafts or any other goods, payments made to the hotel of their stay or to a cab driver to travel from one place to another etc.
An increase in demand of services by foreign tourists helps in the growth of many sectors such as hotels, airlines, restaurants, cab services etc.
AIRDA aims to protect timeshare customers through initiatives like guidelines for accurate advertising, providing information to help buyers make informed decisions, encouraging fair business practices within the industry, assisting with complaints resolution between customers and developers, and promoting customer satisfaction, which benefits both customers and resort owners.
Este documento presenta una introducción a la cinemática de partículas en mecánica de sólidos. Explica conceptos como posición, velocidad, aceleración y cómo se calculan. También incluye un ejemplo numérico para calcular la velocidad y aceleración a partir de una ecuación de movimiento.
Gestión hospitalaria: software de gestion medicaSisInfSocial
Sisinf es una empresa que diseña software para gestionar hospitales, centros médicos y clínicas. Ofrece su producto estrella HIS, un sistema integral de gestión hospitalaria con módulos para hospitalización, urgencias, ambulantes, preadmisiones, facturación y farmacia. La gestión hospitalaria informatizada con un buen sistema adaptado a cada centro permite optimizar los procesos y su administración.
Continuous Integration & deployment for your Xamarin appGerald Versluis
The presentation I did on August 9th 2016 for the Xamarin University as a guest lecture on how to setup continuous integration and continuous delivery for your Xamarin app.
Miami-Dade MPO's Mobility Trends & Patterns presentation to Tampa Bay Regional Planning Council Innovations in Regional Transportation Summit on February 16, 2017.
Este documento habla sobre descubrir nuestras pasiones e intereses. Aconseja que las personas identifiquen qué les gusta hacer, como la lectura, deportes o música. También sugiere que podemos enfocarnos en una vocación y establecer metas y retos académicos y personales, a pesar de las dificultades que puedan surgir. Para superar los retos se requiere fuerza de voluntad, una actitud positiva y perseverancia.
La danza ha formado parte de la historia de la humanidad desde sus orígenes, como muestran pinturas rupestres de hace más de 10.000 años. A lo largo de la historia, la danza ha tenido diferentes funciones ceremoniales y rituales en civilizaciones antiguas como Egipto, Grecia y Roma. En la Edad Media, la Iglesia tuvo una actitud ambivalente hacia la danza, aunque surgió la danza secreta de la muerte. En los siglos posteriores, la danza evolucionó hacia formas más artísticas como el bal
Problemas de olimpiadas 5º matemáticas recreativas 1Rony Gutierrez
Problemas de olimpiadas recreativas es un documento sobre problemas matemáticos y lógicos propuestos por el profesor Rony Gutiérrez para actividades extracurriculares.
O jornal apresenta novidades e promoções da Mary Kay para o mês de março, destacando o mês da mulher. Também dá boas-vindas a novas consultoras, lista aniversariantes do mês e reconhece consultoras de destaque.
The document provides an overview of the hospitality and tourism industry in India. It discusses that India offers a diverse portfolio of niche tourism products and has been recognized as a destination for spiritual tourism. Some key points mentioned are that the industry has emerged as a key driver of growth among services in India, foreign tourist arrivals are increasing, and the government has implemented several initiatives to boost the industry such as developing tourism circuits and increasing the e-visa scheme.
Tourism Entrepreneurship in India: Its Untapped Potential and Challengesijtsrd
As being one of the growing influencers and as an economic powerhouse, potential of Tourism sector as a tool of development are undeniable. The Indian tourism sector is one of the most important service sectors which is not only contributing to employment generation, GDP, Foreign Exchange Earnings etc, but also serving as a back bone for allied sectors like hospitality, travel and transportation, hotels and resorts, tour operators, street vendors, home stays etc. All these activities are giving rise to the concept of -Tourism Entrepreneurship' in India. It refers to the business activities related to various tourism products, which give profits to the owner as well as contribute to the economy of India. The paper also studies about the enough untapped potential of tourism industry as well as entrepreneurship and the challenges faced by the industry in India. With all natural beauties such as rivers, beautiful forests with rare species of animals, seas, waterfalls, snow it have great potential to be one of the most preferred destinations in the world. In the 2018 economic impact report by WTTC, Gloria Guevara, president and chief executive of WTTC called India the Seventh largest travel and tourism economy in the world. Pallabi Bharali "Tourism Entrepreneurship in India: Its Untapped Potential and Challenges" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-1 , December 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29651.pdf Paper URL: https://www.ijtsrd.com/economics/development-economics/29651/tourism-entrepreneurship-in-india-its-untapped-potential-and-challenges/pallabi-bharali
India's tourism and hospitality sector has been growing steadily and contributing more to the country's GDP each year. Some key points:
- The sector's direct contribution to GDP was Rs. 5.94 trillion (US$ 91.27 billion) in 2017 and is expected to reach Rs. 12.68 trillion (US$ 194.69 billion) by 2028.
- India ranked 7th in the world in 2017 for the total contribution of travel and tourism to its GDP, which was Rs. 15.24 trillion (US$ 234.03 billion) that year.
- Foreign tourist arrivals grew from 8.8 million in 2016 to 10.177 million in 2017, a 15.6%
The document outlines an action plan for unleashing India's potential for tourism. It notes that tourism currently contributes 6.2% to India's GDP but recommends steps to improve safety, infrastructure, skill development, and ease of travel to attract more domestic and international tourists. Key recommendations include expanding electronic visas and visa on arrival to more countries; prioritizing tourism infrastructure development; increasing tourism budget allocations; and addressing issues like assaults on women tourists to improve perceptions of safety.
TRADE LIBERALIZATION AND IMPACT IN INCLUSIVE GROWTH OF TOURISM INDUSTRY IN IN...DrVinayJoshi
The travel and tourism industry has emerges as one of the rapidly growing service sectors contributing significantly to global economic growth and development. In developing countries like Indian tourism has become one of the important sectors of the economy, contributing to a large proportion of the national income and generating huge employment opportunities. Tourism is one of the largest service industries in terms of gross revenue and foreign exchange earnings. Tourism growth has implications for employment, as tourism generates employment at all skill levels. This paper attempts to estimate total direct employment generated in India by foreign tourism. This paper discusses how India is emerging as popular tourist destination in the world, driven by the focus on innovation and creating value for tourist. It also examines the impact of India’s economic growth on tourism, Contributors to economic growth, Role of Tourism industry in India’s GDP. The paper also explores that there has been a tremendous growth in tourism in India because of the policies of the government and support from all levels.
The document provides an overview of the tourism and hospitality industry in India. Some key points:
- India's foreign exchange earnings from tourism increased 20.8% in CY2017 to US$27.693 billion, and grew 10.2% during January-September 2018 to US$21.56 billion.
- The tourism sector accounted for 8% of India's total employment in 2017 and is expected to provide 52.3 million jobs by 2028.
- Domestic spending will be the major driver of growth, estimated to account for around 88.8% of tourism revenues by 2028 compared to 87.2% in 2017.
The document provides an overview of the tourism and hospitality sector in India. Some key points:
- India's foreign exchange earnings from tourism grew 20.8% in 2017 to US$27.693 billion and tourist arrivals through e-visas grew 57.2% in 2017.
- The sector contributes significantly to India's GDP and employment. Its direct contribution to GDP is expected to grow 7.1% annually until 2028.
- The government has implemented several reforms like e-visas and campaigns to promote medical and wellness tourism to attract more tourists.
The document provides an overview of the tourism and hospitality industry in India. Some key points:
- India's foreign exchange earnings from tourism increased 20.8% in 2017 to US$27.693 billion and arrivals through e-visas grew 57.2% in 2017.
- The tourism sector accounted for 8% of India's employment in 2017 and is expected to create over 52 million jobs by 2028.
- Domestic tourism will be a major driver of growth, with domestic spending expected to be 88.85% of total tourism revenues by 2028.
- Emerging segments like medical, wellness, adventure, and rural tourism are helping boost the industry.
The document provides an overview of recent trends and strategies in India's tourism and hospitality industry. Some key points include:
- Online travel operators have emerged as over 70% of air tickets are now booked online. Wellness tourism is also growing due to India's spiritual traditions.
- The government aims to develop cruise tourism with five new cruise terminals planned by 2030. Adventure tourism is being promoted across many states.
- Camping sites are being promoted responsibly to boost remote economies and conservation. Pilgrimage tourism remains an important segment due to India's spiritual heritage.
The project is on digital marketing for hospitality industry with main reference to hotels. The project also looks into keeping track of generation Y and Z, also understanding their importance.
The document discusses the role of cooperatives in developing tourism in India. It notes that while tourism is a large industry and employer in India, it remains underutilized for promoting financial inclusion. The concept of cooperative tourism aims to deliver sustainable economic development by building local communities' capacity to realize the value of their cultural heritage and create tourism opportunities. A cooperative model can help bridge divides by bringing all aspects of a tourism product under one structure to ensure benefits are shared more widely. The document reviews literature on cooperatives in general and tourism cooperatives specifically, noting their potential benefits but also challenges to be addressed.
The document provides an overview of the tourism and hospitality sector in India. Some key points:
1) India's foreign exchange earnings from tourism increased 20.8% in 2017 to US$27.693 billion, and contributions to GDP from travel and tourism are expected to grow faster than the world average.
2) The sector accounted for 9.3% of India's total employment in 2016, providing jobs for 40.3 million people. Employment is projected to rise 2% annually to 46.42 million by 2026.
3) Various government initiatives such as e-visa reforms, tax incentives for hotels near heritage sites, and schemes to develop tourism circuits have supported growth in the sector.
Growth and performance of tourism industry in IndiasouptikHazra
This document provides an overview of the growth and performance of India's tourism industry from 1997-2013. Some key points:
- Foreign tourist arrivals and foreign exchange earnings from tourism have grown steadily over this period, with India's share of international tourism receipts increasing from 0.65% to 1.31%.
- The top states for foreign tourist visits are Maharashtra, Tamil Nadu, Delhi, and Uttar Pradesh, which together accounted for over 60% of visits in 2013.
- National policies since the 1980s have aimed to increase employment, preserve heritage, and boost foreign exchange earnings from tourism.
- Challenges remain around developing infrastructure, addressing issues like staff shortages, and realizing tourism
Cultural tourism has significant benefits for economic growth by drawing tourists through cultural attractions and events, exposing visitors to local culture in order to make places frequent destinations. Tourists enjoy exploring new cultures, so showcasing a country's culture through events satisfies this interest while strengthening cultural exchanges between hosts and guests. However, cultural tourism must also consider addressing lingering cultural misconceptions in order to maximize its potential for connecting cultures across borders.
This document provides an analysis of the hospitality industry in India. It begins with an overview of the history and growth of the hospitality industry in India. It then categorizes players in the industry based on location, size, level of service, length of stay, theme, target market, and room types. Specific Indian companies like ITC, EIH, IHCL, and OYO are analyzed. Tools like PESTAL, SWOT, Porter's Five Forces, and value chain analyses are applied to the hotel industry. Challenges faced by hotels and frameworks like BCG matrix and McKinsey matrix are discussed. The document concludes with references.
The document provides an overview of the tourism and hospitality sector in India. It discusses recent trends like the growth in e-visa issuance, India's ranking in travel and tourism contribution to GDP, rising foreign exchange earnings, and employment generation in the sector. The key growth drivers for tourism include medical tourism, infrastructure developments, various state initiatives, and emerging segments like wellness, adventure, and spiritual tourism. The government has implemented several policies to promote tourism and attract more foreign and domestic visitors.
Role of Tourism in Economic Development A Case Study of Koraput District of O...ijtsrd
Tourism and hospitality is an important parameter of socio cultural identity and heritage of a country. In the era of globalization tourism and hospitality enhances the economic growth by job creation, source of foreign exchange and development of regions with potential for tourism. According to World Travel and Tourism Council 2014 , the contribution of travel and tourism in world GDP is estimated to increase from 9.5 of GDP in 2013 to 10.3 of GDP in 2024 WTTC, 2014 .Tourism and hospitality industry contributes 6.8 of GDP of India, contributes 7.7 in total employment generated and provides foreign exchange of US 18.13 billion . The tourism and hospitality sector is the third largest source of foreign exchange for India. The investment in tourism creates more jobs as compared to other sectors of economy. An investment of Rs. 10 lakh in tourism sector is estimated to create 89 jobs in hospitality industry as compared to 45 jobs in agriculture and 13 jobs in manufacturing sector Planning Commission .Hotel industry generates revenues of US 400 500 billion annually. In India tourism and hospitality has emerged as a sunrise industry with rise in number of foreign tourists. Shri Arun Kumar Tripathy | Shri Kishore Kumar Patra "Role of Tourism in Economic Development: A Case Study of Koraput District of Odisha" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-1 , December 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47833.pdf Paper URL: https://www.ijtsrd.com/economics/other/47833/role-of-tourism-in-economic-development-a-case-study-of-koraput-district-of-odisha/shri-arun-kumar-tripathy
The document provides an overview of the tourism and hospitality industry in India. Some key points:
- India's foreign exchange earnings from tourism increased 20.8% in 2017 to US$27.693 billion, and arrivals through e-visas grew 57.2% in 2017.
- The tourism sector accounted for 8% of India's employment in 2017 and is expected to create over 52 million jobs by 2028.
- Emerging segments like medical, wellness, adventure, rural, and eco-tourism are contributing to the industry's growth.
- Online travel is growing, with over 70% of air tickets now booked online, and many online travel operators emerging in India.
This document discusses the impacts of globalization on the leisure and tourism industry. It notes that globalization has led to developments in technology and transport infrastructure that have made tourism more affordable and accessible through means like internet booking sites and improved transportation options. However, it also notes that the pursuit of tourism profits in developing countries has negatively impacted indigenous communities by changing their traditional ways of life. While globalization grows the tourism industry, local populations are increasingly paying the price through loss of culture and local economic protections.
The Power of a Glamping Go-To-Market Accelerator Plan.pptxRezStream
Unlock the secrets to success with our comprehensive 8-Step Glamping Accelerator Go-To-Market Plan! Watch our FREE webinar, where you'll receive expert guidance and invaluable insights on every aspect of launching and growing your glamping business.
Best Places to Stay in New Brunswick, Canada.Mahogany Manor
New Brunswick, a picturesque province in eastern Canada, offers a plethora of unique and charming places to stay for every kind of traveler. From the historic allure of Fredericton and the vibrant culture of Saint John to the natural beauty of Fundy National Park and the serene coastal towns like St. Andrews by-the-Sea, there's something for everyone. Whether you prefer luxury resorts, cozy inns, rustic lodges, or budget-friendly options, the best places to stay in New Brunswick ensure a memorable stay, allowing you to fully immerse yourself in the province's rich history, stunning landscapes, and warm hospitality.
https://www.mmanor.ca/blog/best-5-bed-and-breakfast-new-brunswick-canada
Assessing the Influence of Transportation on the Tourism Industry in Nigeriagsochially
This research dissertation investigates the complex interplay between transportation and the tourism industry in Nigeria, aiming to unravel critical insights that contribute to the enhancement of the overall tourist experience. The study employs a multi-faceted approach, literature review establishes a robust theoretical framework, incorporating The Service Quality and Satisfaction Theory to guide the research questions and hypotheses.
The methodology involves the distribution of a structured questionnaire, ensuring a representative sample and facilitating a comprehensive analysis of the gathered data.
Key findings include the nuanced perceptions of transportation infrastructure adequacy, safety and security concerns, financial influences on travel decisions, and the cultural and ecological impacts of transportation choices. These findings culminate in a comprehensive set of recommendations for policymakers and practitioners in the Nigerian tourism industry. The findings contribute to the existing literature by providing actionable insights for policymakers, stakeholders, and researchers in the Nigerian tourism sector.
The recommendations encompass gender-sensitive planning, infrastructure enhancements, safety measures, and strategic interventions to address financial constraints, ensuring a holistic and sustainable development of the tourism industry in Nigeria.
Author: Imafidon Osademwingie Martins
Wayanad-The-Touristry-Heaven to the tour.pptxcosmo-soil
Wayanad, nestled in Kerala's Western Ghats, is a lush paradise renowned for its scenic landscapes, rich biodiversity, and cultural heritage. From trekking Chembra Peak to exploring ancient Edakkal Caves, Wayanad offers thrilling adventures and serene experiences. Its vibrant economy, driven by agriculture and tourism, highlights a harmonious blend of nature, tradition, and modernity.
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A travelogue of my recent trip to Argentina, most to Buenos Aires, but including excursion to Iguazú waterfalls, Tigre, and Colonia del Sacramento in Uruguay
How To Talk To a Live Person at American Airlinesflyn goo
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Tourism and its contribution to the Economy - Article by B.S Rathor - Advisor & Member Executive Committee Member, AIRDA
1. Cover Story
February 2017Maharashtra Economic Development Council, Monthly Economic Digest
Tourism and its contribution
to the Economy
Mr. B S Rathor
Tourism is an activity dif cult to
de ne and more dif cult to
comprehend in view of its
complexities. It is not a product nor
a service but a rare blend of both or
neither. In simple terms and as best
understood it is travel for an objective
-be it leisure, business or other
purposes. I call it a unique experience
through the combination of
multitudes of objects bordering from
the mundane to the spectacular under
its umbrella. More than its de nition
it is important to know that this
amalgam has the capability to deliver
an experience which only can be felt
by the traveling mass that are ever
ready to savor its glory.
Tourism is embraced by almost all the
countries on the globe in some form
or another because it has the power to
drive economies, add value as well as
a platform for creating opportunities
and aspiration.
“Tourism can be domestic or
international, and international
tourism has both incoming and
outgoing implications on a country’s
balance of payments. Today, tourism
is a major source of income for many
countries, and affects the economy of
both the source and host countries,
in some cases being of vital
importance” – (source WTTC).
The three major types of tourism
include domestic tourism - involving
B.S Rathor is the Advisor & Member Executive Committee Member, All India Resort Development
Association (AIRDA), a national body of Vacation (Timeshare) Resort Developers in India. He
has been a past Chairman of AIRDA for over a decade and was instrumental in establishing the
Association from the roots.
An Honors’ Graduate in Electrical Engineering from the Indian Institute of Technology (IIT)
Kharagpur, B S Rathor joined AIRDA after his retirement from Ford India, where he was a Vice
President.
B.S Rathor has been actively involved with major industry and business associations throughout his
professional career. B.S Rathor has been a regular contributor to The Hindu group of publications
on industry and economic issues. He is an accredited member of the Foreign Correspondents Club,
New Delhi.
E-mail: anil.rathor100 gmail.com info airda.org
residents of the given country
traveling only within the country,
inbound tourism - involving non-
residents traveling in the given
country, and outbound tourism -
involving residents traveling in
another country. The terms travel,
tourism and hospitality are
complementary and are commonly
used in the parlance of tourism.
As a part of evolution and
recognition by various governments
in greater measure, several offshoots
of tourism are emerging. These are
classi ed under “Niche Tourism”
and comprise agro tourism, heritage
tourism, wellness/medical tourism,
wildlife tourism, cultural tourism
amongst others. I have deliberately
excluded two large segments
which are arguably country
separately. These are “leisure
tourism & spiritual tourism” not
only because they have a large
market but have high growth
potential and better included in
the mainstream tourism in India.
Figure 1 - JAISALMER DESERT
RAJASTHAN
Figure 2 – ADDING VALUE TO
THE LOCAL COMMUNITY
Global Macroeconomic and
Tourism Outlook
There are various research reports
available - the mother source of
all being WTTC, and the rest being
country and segment-speci c, based
on studies conducted by major
market research companies. The
global macroeconomic situation has
a direct impact on the growth of
tourism and its correlation with
the GDP. The global GDP growth
forecast for 2017 is 2.6% and is
expected to pick up beyond.
The fastest growing world region
in 2016, 2017, and 2016-20 will be
South Asia, led by strong growth in
India, whose economy is expected to
outperform China.
The world direct travel & tourism
GDP growth will outpace the overall
economy, was resilient in 2016 and
will continue to grow faster than the
wider global economy at around 3.1%
and rise by 4.2% pa from 2016-2020.
Tourism in India is expected to make
a direct contribution GDP at around
2. Cover Story
February 2017 Maharashtra Economic Development Council, Monthly Economic Digest
8.6% during 2016-20 (WTTC).
This arguably could be the highest
compared with other regions.
There is now an increasing awareness
of tourism related environmental
issues and revenues generated out of
tourism activity are used to measure
the economic value of protected
areas. Tourism earnings are partially
from informal employment of
agencies which facilitate smooth
functioning down the last mile as
vendors, guides, local transport
providers, roadside restaurants and
the like. The revenues generated are
reinvested in the local economy and
have a great multiplier effect. As per
WTO estimates indirect contribution
of tourism is equal to 100% of direct
tourism expenditures.
Travel & tourism generated US$ 7.2
trillion (9.8% of global GDP and
284 million jobs (1 in 11 jobs) to the
global economy in 2015. Despite
challenges the sector is forecast
to continue outperforming global
growth in the coming years. The
fastest growing G20 countries for
total travel & tourism GDP to 2026
will be China, India, Indonesia,
Mexico and South Africa. India’s
strong forecast will propel it into the
top ten travel & tourism economies
by 2026 in terms of total travel and
tourism GDP
Major Tourism Segments in
India
Domestic travel spending
generated 82.5% of direct Travel &
Tourism GDP in 2015 as compared
with 17.5% for visitor exports
(i.e. foreign visitor spending or
international tourism receipts).
Leisure travel spending (domestic
and inbound) generated 83.2%
of direct Travel & Tourism GDP
in 2015 as compared with 16.8%
for business travel spending.
Domestic travel spending is
expected to grow by 6.6% in 2016 to
INR 6,284.4bn, and rise by 7.8% pa
to INR 13,305.5bn in 2026. Visitors
exports are expected grow by 5.3% in
2016 to INR 1,315.9bn, and rise by
7.2% pa to INR 2,625.6bn in 2026.
The total contribution of travel
and tourism to employment
including jobs indirectly supported
by the industry was 8.7% of total
employment (37.3 million jobs) in
2015. This is expected rise to 46.4
million jobs in 2026.
The total contribution of travel
and tourism to GDP is three times
greater than its direct contribution.
The above data reinforces the
view that there is enormous latent
potential in leisure travel which
provides a ready platform to expand
exponentially. One could say that
leisure travel encompasses most
of the niche tourism segments
mentioned in this paper including
spiritual tourism. This market is
awaiting pro table development
Figure 3 - TIMESHARE
PROJECT TIRUPATHI
Figure - 4 TIMESHARE
PROJECT AMRITSAR
through new investments.
The tourism basket provides a
diverse range of products and
services to enhance the tourism
experience. One such product is
vacation ownership (timeshare)
which is perhaps the fastest growing
segment amongst its peers. But
before this, let us spend a little time
on some tourism statistics.
The vacation ownership (timeshare)
industry forms an integral part of the
leisure tourism segment. It will be apt
to mention it brie y. This concept
originated in the sixties in Europe
and over the years, it has become a
popular leisure-cum-vacation format,
and a rst option for a wide range
of customer pro les. Today’s leisure
travelers have a wide range of
destinations to choose from - in
the country and around the globe.
Customers around the world are
turning to vacation ownership /
timeshare as their preferred option
for holidays. More than 16 million
households own vacation interval
products across 5,300 resorts in over
120 countries.
Vacation ownership in India is clearly
a front runner in the tourism
(hospitality) industry. The vacation
ownership in India has been growing
at a CAGR of over 15% during
the last ve years. There is a visible
increase in the number of timeshare
owners; because holidayers are
seeking new leisure options – an
indication of rapidly changing
lifestyles where holidaying has
become a necessity. The timeshare
industry in India is fairly new and
is in its developmental and growth
stage. Studies have revealed there
are 80 timeshare companies having
more than 180 resorts. Over 500000
families take to leisure travel every
year in timeshare resorts in attractive
destinations throughout the country.
The scales are small but have a
tremendous potential to grow in view
of the fast changing demographic
patterns in India. Timeshare is a
great driver of domestic tourism
and is less vulnerable to external
disturbances – political, economic
or geo-physical.
3. Cover Story
February 2017Maharashtra Economic Development Council, Monthly Economic Digest
The Ministry of Tourism,
Government of India has recently
prepared a draft National Tourism
Policy 2015 which is awaiting nal
approval. The draft policy has been
prepared with the suggestion of
all stakeholders in the travel, tour-
ism and the hospitality segments.
The centre in partnership with the
states is giving high priority to the
development of tourism activity
in the country. The draft policy is
comprehensive and has a radical
approach. It may not be possible to
talk about the policy in my article but
it is pertinent to note that the policy
has a focus on domestic tourism
which will become a base for
attracting inbound tourists. The
policy mentions in detail all niche
segments which largely are offshoots
of domestic cum leisure segment
which warrant special attention.
Other areas include inclusion of
tourism in the concurrent list of the
constitution to make it a national
agenda, review of restrictive /
obstructive clauses in current hotel
classi cation guidelines, applicable
bene ts to hotels to be given to all
recognized hospitality segments as
timeshare resorts, home stays etc.
The draft policy suggests a review
of dated legislation, encourage
non-traditional categories of
accommodation such as Home Stays,
Tented Accommodation, Compiling
Sites, Timeshare Resorts etc.;
classifying hotels and resorts as
infrastructure under section 80 1A
/ 1B of the IT Act; declaring all
hospitality projects as industrial
sector for the purposes of utility
charges & property cess and levy
of industrial rates; applicability of
lower GST slab for all tourism and
hospitality businesses.
A growing recognition of tourism’s
contribution to employment and
economic growth, the availability
of better infrastructure, focused
marketing and promotion efforts,
liberalization of air transport, the
growth of online travel portals,
growing intra-regional cooperation
and more effective PPPs are seen as
key growth drivers for tourism in the
next decade.
Hundred percent FDI is allowed
under the automatic route in tourism
and hospitality, subject to applicable
regulations and laws.100% FDI
allowed in tourism construction
projects, including the development
of hotels, resorts and recreational
facilities.
Investment-linked deduction under
Section 35 AD of the Income Tax
Act is in place for establishing new
hotels in the 2-star category and
above across India, thus permitting
a 100% deduction in respect of the
whole or any expenditure of a capital
nature excluding land, goodwill and
nancial instruments incurred during
the year.
Incentives offered by state
governments include subsidized land
cost, relaxation in stamp duty, and
exemption on sale/lease of land,
power tariff incentives, concessional
rate of interest on loans, investment
subsidies/tax incentives, backward
areas subsidies and special incentive
packages for mega projects.
Incentives are provided for setting
up projects in special areas – the
North-east, Jammu & Kashmir,
Himachal Pradesh and Uttarakhand.
Incentives from the Ministry of
Tourism include assistance
in large revenue-generating
projects. Support to PPPs in
infrastructure development such as
viability gap funding. Schemes for
capacity-building of service providers
AIRDA has requested the Ministry
of Tourism to incentivize domestic
leisurecumspiritualtourismtoleverage
the large available market of 1600M.
Nature has provided India with a
natural demography with a diverse
heritage. The splendor of the snow
clad Himalayas, the Jaisalmer deserts
in Rajasthan in all their beauty and
splendor, the plantations, the wildlife,
history and culture, the long maritime
boundaries with abundant beaches,
the beauty of the north eastern
parts of the country, dance, drama,
mythology. Not to forget the Taj
Mahal and the rich mix of temples,
churches, mosques which embrace
the tourists to their fold. The list is
endless. And to add to it all India
is now one of the fastest growing
economies in the world. Global
investments are pouring in and will
only get better in the next decade.
Tourism needs socio-political
acceptance by those who run the
country. And a growing belief that
the rapid development of the tourism
industry will bring in multifold
bene ts such as development of the
rural interiors and regional areas,
economic growth and wealth
creation. We can also take into
account employment generation in
rural areas, adding substantially to
exports and domestic revenues.
Indian tourism is waiting to welcome
you with open arms.
Figure 5 - PLANTATIONS
MUNNAR
By B S Rathor,
Advisor & Member Executive Committee
All India Resort Development Association
Bangalore