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Indian budget includes slew of proposals for the tourism sector

Press release August 5, 2014

The report provides detailed market analysis, information and insights, including historic and forecast tourist volumes covering the entire travel and tourism sector in India.

Union Finance Minister Arun Jaitley announced a slew of proposals for the tourism industry in India in his recent budget. With these initiatives, the sector is expected to get a much-needed push after a sluggish performance in 2013. Furthermore, market experts think that the introduction of electronic travel authorization (e-visa) at major airports in India would encourage the sector’s growth in the country. The travel intermediaries are also happy that the government is taking some initiatives and devising plans that would put India in the spotlight and empower allied businesses, both directly and indirectly in the tourism industry.

This report, Travel and Tourism in India to 2018, provides a detailed market analysis, information and insight. It also gives detailed analysis of the airline, hotel, car rental and travel intermediaries industries.

 

Market overview

India’s 2014-15 budget finally brought some good news for the travel market in India, especially when it planned to establish the necessary infrastructure for e-visa implementation within the next six months. This process is expected to facilitate the visa on arrival facility and thereby, increase the influx of foreign tourists in the country. Moreover, to push tourism even in Tier I and II cities, the budget also included schemes for developing new airports through the Airports Authority of India or through public-private partnerships. Significant funds were also allocated for the building of highways. Additionally, for Indian tour operators, conducting tours outside India for the foreign nationals will be taken out of the tax net to promote India as a tourism-friendly hub. All these factors, if implemented fast, are expected to boost the tourism sector, especially when progress was slow in the recent past.

The budget also talked of other initiatives, especially the creation of five tourist circuits around specific themes, like pilgrimage, rejuvenation, spiritual augmentation drive and national heritage. These circuits would include world-class tourist amenities. All these will aim to attract more tourists from all over the world.

India’s rich cultural, historic, religious and natural heritage provides a huge potential for developing tourism. As per the World Travel and Tourism Council (WTTC), 2014 is expected to bring an above-average growth for the tourism sector in India wherein the economic contribution is expected to grow by 7.3%, outperforming the general economy by 2.5%. The total revenue generated from the domestic tourism is also expected to increase by 8.2% in 2014 as compared to 5.1% in 2013. Furthermore, all these initiatives are expected to give a 40% jump in employment in 2014 from the 35 million jobs created by the sector in 2013.

 

For further insights,

Visit: Indian budget includes slew of proposals for the tourism sector

 

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Subjects


Tourism industry india, travel industry india, travel market india