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1、For updated information,please visit www.ibef.orgNovember 2024TOURISM&HOSPITALITY2Executive Summary3Advantage India 4Market Overview 6Recent Trends and Strategies15Growth Drivers21Opportunities 34Key Industry Contacts38Appendix40Table of Contents3Executive summary5416322.Creating employmentIn FY23,t

2、he tourism sector in India accounts for 35 million jobs,a growth of 8.3%over the last year(2022).The Hotels Association of India(HAI)stated that the hospitality and tourism sector anticipates generating 50 million direct and indirect employment opportunities in the next 5-7 years.3.Lighthouse&Cruse

3、TourismGovernment has identified 78 lighthouses ascentres of tourism and five ports as cruisetourism hubs to boost lighthouse and cruisetourism in India.1.Contribution to GDP above world averageIn2023,thetravel&tourismindustryscontribution to the GDP is estimated over US$199.3 billion;this is expect

4、ed to reach US$512billion by 2028.In India,the industrys direct contribution to theGDP is expected to record an annual growthrate of 7-9%between 2019 and 2030.Revenue from religious tourism destinationsalmost doubled to Rs.1,34,543 crore(US$16.2 billion)in 2022 from Rs.65,070 crore(US$7.8 billion)in

5、 2021,as per the Ministry ofTourism.5.New policy rollout planTo ease travel for international tourists,theGovernmentofIndiahaslaunchedascheme wherein five lakh tourists will getfree visas.4.Higher investmentTheEmergencyCreditLineGuaranteeScheme(ECLGS)covered through a liberaldefinition of MSME(micro

6、 small and mediumenterprises)has been expanded to includetourismandhospitalitystakeholders.Infrastructure status has been granted toexhibition-cum-convention centres.A separate liquidity window of Rs.15,000crore(US$1.81 billion)has been releasedfor the sector.The Rs.85,000 crore(US$10.2 billion)inve

7、stmentinAyodhya,includingtheestablishmentofanewairport,therefurbishment of the railway station,thecreation of a township,and enhanced roadconnectivity,is poised to turn the city into avibrant center for spiritual tourism and serveasarolemodelforpromotingspiritualtourism.6.New visa reformsVisa reform

8、s include a significantly expanded Golden Visascheme,a five-year Green residency and new entrypermits,including one for job seekers.The new systemalso offers additional benefits to sponsor family members4Advantage India5Source:DPIIT,ICE 360 Survey 2016,Blue Star Investor Presentation August 2018,*BA

9、RC India Universe Update July 2018,Bombay Stock ExchangeAdvantage India Indiaisgeographicallydiverseandoffers a variety of cultures that comewith its own experiences,making it oneof the leading countries in terms ofinternational tourism expenditure.According to WTTC,the contribution ofIndias travel

10、and tourism sector toIndias economy was worth Rs.15.7lakh crore(US$189 billion)in 2022.According to WTTC,over the nextdecade,IndiasTravel&TourismsGDP is expected to grow at an averageof 7.1%annually.Pilgrimage travel in India is gainingpopularity domestically and among thelarge Indian diaspora world

11、wide.1.Diverse attractions In the 2024 Interim Budget,Rs.2,449.62crore(US$294.8 million)were allocatedto the tourism sector,a 44.7%increasefrom the previous fiscal year.This marksa positive change from the 2023 UnionBudgets initial allocation of Rs.2,400crore(US$288.8 million),later revised toRs.1,6

12、92.10 crore(US$203.6 million).The Ministry of Tourism has approved 46projects under its PRASHAD Scheme,includingthreeinAndhraPradesh.Additionally,29 sites have been identifiedfor development under this scheme,withtwo located in Andhra Pradesh.4.Policy support India offers geographical diversity,worl

13、dheritage sites and niche tourism productslike cruises,adventure,medical,eco-tourism,etc.Incredible India has spurredgrowthintouristarrivalsandemployment.In 2024,Prime Minister Mr.NarendraModiinaugurates52tourismsectorprojects valued at over Rs.1400 crore(US$168.5 million)under the SwadeshDarshan an

14、d PRASHAD Scheme.The government has taken steps to boostinvestments in facilitate spiritual tourismwith states like Uttar Pradesh developingtourist circuits and Uttarakhand and WestBengalenhancinginfrastructureforpilgrims.3.Attractive opportunities Indias tourism and hospitality sectorisexpectedtoyi

15、eldrevenueexceeding US$59 billion by 2028.Moreover,ForeignTouristArrivals(FTAs)are forecasted to hit 30.5million by the same year.The travel market in India is projectedto reach US$125 billion by FY27 froman estimated US$75 billion in FY20.Internationaltouristarrivalsareexpected to reach 30.5 millio

16、n by2028.2.Robust demandADVANTAGE INDIA14326Market OverviewMARKET OVERVIEW7Evolution of the Indian tourism and hospitality sectorThe National TourismPolicywasannounced in 1982TheGovernmentformulatedacomprehensiveplanin 1988 to promotetourism.Various states in Indiadeclared tourism as anindustryTheGo

17、vernmentstressedonprivate-publicpartnershipinthe sectorGovernmentpoliciesgive a fillip to the hotelindustry.A national policy ontourismwasannounced in 2002,focusingondeveloping a robustinfrastructureOnline travel portals&low-costcarrierairlines gave a boostto domestic tourism.e-TouristVisawaslaunche

18、d;atotalof2.93millionforeigntourists arrived on thee-Tourist Visa in 2019registering a growth of23.6%InNovember2018,IndiaattainedthirdpositionintheworldtourismsectorafterChina and US.Travelandtourismsectoraccountedfor8.0%oftotalemploymentopportunities in 2019.Pre-19902000-052015-20201990-20002020-20

19、23Theinfluxofinternational touristsin India is projectedto reach 30.5 millionby 2028.In2022,Indiantourismofficesoverseas participateinthemajorinternationalTravelFairs&ExhibitionsincludingArabianTravel Market(ATM)inDubai,WorldTravelMarket(WTM)in London.8Segments of tourism and hospitalitySource:Dun a

20、nd Bradstreets Report on Tourism in IndiaAccommodation forms a base for the tourists exploration of the urban and non-urban environments.It provides the opportunity for visitors to stay for a length of time to enjoy the locality and its attractions,while their spending contributes to the local econo

21、my.Since tourism involves the movement of people from their places of residence to the places of tourist attractions,transport is one of the major components of the tourism industry.To develop any place of tourist attraction,there must be proper,efficient,and safe modes of transportation.Attractions

22、 are the places,people,events,and things that make up the objects ofthe tourist gaze and attract tourists to destinations including natural and culturalsites,historical places,monuments,zoos,aquaria,museums&art galleries,architectural structures,theme parks,sports facilities,wildlife.Responsibilitie

23、s of travel agents include planning and selling transportations,accommodations,insurance,cooperating with clients to determine their needs and advising them appropriate destination,modes of transportations.Developing tour packages,negotiating rates,customizing travel plans,providingcustomer support,

24、preparing tour budgets,researching and recommending traveloptions.AccommodationTransportationAttractionsTravel agentsTour operatorsTourism and hospitality9Emerging tourism and hospitality segmentsSource:Dun and Bradstreets Report on Tourism in India1.Rural tourismShowcases the Indian rural life,art,

25、culture,andheritage,therebybenefitingthelocalcommunityeconomically and socially as wellas enabling interaction between thetourists and the locals for a moreenriching tourism experience.2.Spiritual tourismRevenue from religious tourismdestinations almost doubled to Rs.1,34,543 crore(US$16.2 billion)i

26、n 2022 from Rs.65,070 crore(US$7.8 billion)in 2021,as perthe Ministry of Tourism.68 destinations/sites have beenidentifiedin30States/UTsfordevelopment under the PRASHADScheme as on March 31,2022.3.Eco-tourismProjected to achieve a growth rate of 15.7%from 2019 to 2027,reaching a valuation of US$4.55

27、 billion,India presents distinctive destinations,opportunities for wildlife exploration,and untouched natural areas of pristine beauty.4 Luxury tourismThe luxury travel market in India isexpected to grow at rate of 12.8%during2015-25,the highest in comparison withany other BRIC country.7.Adventure t

28、ourismIndia boasts 70%of the Himalayas,over 7,000 kilometers of coastline,ranks 10th globally in terms of totalforest area,and is among the trio ofnations housing both hot and colddeserts.6.Medical tourismDrawing upon world-class healthcareamenitiesandtraditionalhealingpractices,medicaltourismandwel

29、lnessretreatsentice21%ofinternational travelers.5.Heritage tourismGiventhevariationsinthecustoms,traditions and philosophy ingrained behindeach state of India,heritage tourism is apotential proponent for the upliftment oflocal economies.251436710Rising contribution to Indias GDP87.1791.2798.17194.69

30、0.0050.00100.00150.00200.00250.002016201720182028FSource:World Travel&Tourism Councils(WTTCs)Economic Impact 2021In 2022,the Travel&Tourism sector contributed US$199.6 billion to the GDP,accounting for 5.9%of the total GDP.The Indian travel and tourism industry is expected to record an annual growth

31、 at 7.1%per annum.According to WTTC,In 2022,the Travel&Tourism sector directly created 16,897,826 jobs,representing 3.5%of total employment.These jobsencompass roles in hotels,travel agencies,airlines,and other passenger transportation services(excluding commuter services).Tourism is the third large

32、st foreign exchange earner for the country.CAGR 6.93%Note:CAGR-Compound Annual Growth Rate,F-Forecast,232.01247.37191.30121.90178.00199.60512.000.00100.00200.00300.00400.00500.00600.002017201820192020202120222029FCAGR 12.85%Total Contribution of Travel and Tourism to GDP(US$billion)Direct Contributi

33、on of Travel and Tourism to GDP at Real 2017 Prices(US$billion)11Foreign arrivals post pandemic10.0410.5610.937.21.526.449.205.540.02.04.06.08.010.012.020172018201920202021202220232024*Source:Ministry of Tourism,News Articles,*January to July 2024As per the Ministry of Tourism,Foreign Tourist Arriva

34、ls(FTAs)inDecember 2023 were 1,070,163.1Foreign Tourist Arrivals in July 2024 were 7,76,110 as compared to7,86,486 in July 2023.FTAsduring the period January-July 2024 were 55,54,484 ascompared to 53,07,049 in January-July 2023.The percentage share of Foreign Tourist Arrivals in India duringDecember

35、 2023 among the top five ports was highest at Delhi Airport(29.92%)followed by Mumbai Airport(18.46%),Haridaspur LandCheck Post(7.09%),Chennai Airport(7.02%),Bengaluru Airport(6.20%).The G-20 Presidency will give Indias tourism sector an unparalleledopportunity to highlight Indias tourism offerings

36、and share Indiastourism success stories on a global stage.By 2028,Indian tourism and hospitality is expected to earn US$50.9billion as visitor exports compared with US$28.9 billion in 2018.Tourism Ministry has undertaken the NamasteIndia Campaign toencourage International visitors to travel to India

37、.TheUnitedNationsWorldTourismOrganisationselectedPochampally in Telangana as one of the best tourism villages inNovember 2021.Foreign tourists arriving in India(million)12Leisure Holiday and Recreation was the major purpose for foreign tourists45.12%26.63%10.63%9.80%7.82%Leisure Holiday and Recreati

38、onIndian DiasporaBusiness and ProfessionalOthersMedicalSource:World Travel&Tourism Councils(WTTCs)Economic Impact 2022,Ministry of Tourism,*January to July 2024January-December 2023,26.52%of foreign tourists visited for Indian Diaspora which marks 9,236,108 foreigners.Tourism is an important source

39、of foreign exchange in India like many other countries.The foreign exchange earnings between 2016 and 2019increased at a CAGR of 7%but dipped in 2020 due to the COVID-19 pandemic.FEE during the period January-July 2024 were US$18.17 billion.The Ministry of Tourism,India has undertaken the NamasteInd

40、ia Campaign with the objective of encouraging International visitors to travel toIndia.The demand for Indian Medical Tourism was expected to grow at a healthy 19%CAGR during 2022-2032.Foreign Exchange Earnings(FEEs)in US$billionForeign Tourist Arrivals By Purpose of Visit(Jan-July 2024)13.773.774.75

41、10.6028.1018.170.05.010.015.020.025.030.0201920202021202220232024*13Domestic consumers to lead growth94%6%Domestic spendingForeign visitor spendingSource:News Articles88.85%11.15%Domestic spendingForeign visitor spendingNote:F-ForecastedShare of Tourists by Expenditure(2021)Expected share of tourist

42、s by expenditure(2028F)The percentage share of foreign tourist arrivals in India during July 2024 among the top five source countries was highest from UAE(22.94%),followed by Saudi Arabia(11.12%),USA(8.47%),Thailand(5.91%)and Singapore(4.95%).Domestic visitor spending increased by 20.4%in 2022,only

43、14.1%below 2019.International visitor spending rose by 81.9%in 2022,but still40.4%behind 2019 numbers.Domestic travel is anticipated to further increase to US$405.8 billion by 2028F.Ministry of Tourism organized the National Conference of State Tourism Ministers from 18th to 20th September 2022 in D

44、haramshala,Himachal Pradesh to bring in diverse perspectives from all the States and Union Territories of India on tourism development and growth and to create a direct dialogue with the States on Schemes,policies and steps being taken at a national level for overall tourism improvement in India.Ind

45、ia as a 360-degree destination was promoted by the Ministry of Tourism to the international travel industry through participation in major international travel exhibitions like Arabian Travel Mart,Dubai and World Travel Market,and London,etc.14Major companies across segmentsSource:Respective company

46、 websiteCompanySegmentRevenue(US$million)Other major playersOnline bookingY,HotelITC,Oberoi,MarriottTour operatorsRaj Travels,Kesari Tours675486 511.52163.4470593.04782.5FY18 FY19 FY20 FY21 FY22 FY23 FY24410658652238211716834FY18 FY19 FY20 FY21 FY22 FY23 FY241,771 1,042 978 386 45 179 205 FY18 FY19

47、FY20 FY21 FY22 FY23 FY24*The value of the travel and tourism sectors contribution to the Indian economy in 2022 was Rs.15.7 lakh crore(US$190 billion),according to figuresfrom the World Travel&Tourism Council(WTTC).Note:*April-December 202315Recent Trends and StrategiesRECENT TRENDS AND STRATEGIES16

48、Notable trends in the tourism industry in India(1/2)3.CruisesAnticipated growth in cruise passenger traffic from 0.4million to 4 million by 2032 signifies a substantial rise ineconomic potential,soaring from US$110 million toUS$5.5 billion.Government of India has estimated that India wouldemerge wit

49、h a market size of 1.2 million cruise visitorsby 2030-31.The Government is planning to set up fivecruise terminals in the country and increase cruise shipsto 1,000.1.Lighthouse TourismThe government is planning to boosttourism in India by leveraging lighthousesin the country.Ofthe65lighthousesplanne

50、dfordevelopment as places of tourist interest,the maximum 13 are in Gujarat.The lighthouses will feature museums,amphi-theatres,openairtheatres,cafeterias,childrens parks,eco-friendlycottages.543212.Wellness tourism/StaycationWellness tourism is slated to grow atan average annual rate of 7.5%in FY20

51、22-23.TheMinistryofTourismhasextendeditsMarketDevelopmentAssistance(MDA)schemetowellness tourism service providersincludingaccreditedwellnesscentres.5.Camping sitesPromotion of camping sites have beenencouragedwithadequateacknowledgement of its adverse effects onthe environment.Besidesprovidinguniqu

52、erewardingexperiences,responsibleconductofcampingcanbeamajorsourceofeconomic opportunity in remote areas aswell as an instrument of conservation.The Ministry of Tourism has created apolicy for development and promotion ofcaravan and caravan camping parks.4.AdventureIndia aims to turn the the adventu

53、retourism to US$800 billion market by2047.Adventure tourism is the key to makeIndia a 12-month destination for tourists.InJuly2021,Modair,Indiasleadingadventure travel company begins offeringexciting sky adventure tourism servicesfor the first time in India with a variety offlight activities includi

54、ng adventure flying,cockpit flying and skydiving.InJuly2024,theNortheastandHimalayan circuits have been allocatedRs.782.55 crore(US$94.51 million)andRs.517.99 crore(US$62.56 million),respectively,for promotion of adventuretourism.Source:Incredible India,Economic Times,News sources17Notable trends in

55、 the tourism industry in India(2/2)3.Intercity cab and busMetropolitan areas constituted 33%of busbookings,whiletheremaining67%originatedfromotherregions,underscoring the increasing significanceof tier-II and tier-III cities.In FY20,the intercity cab and bus marketwas estimated at US$2.2 billion and

56、US$9.0billion,respectively,andprojected to grow and double in size byFY27,driven by the increasing demandfrom consumers in India.2.AirlinesPassengers carried by domestic airlines during January October 2024 were 132.15 million as against 125.49 million during the corresponding period of the previous

57、 year registering an annual growth of 5.30%.In the last five years,the number of airline passengers increased from 60 million in 2013-14 to 145 million,and 400 million passengers are expected to travel by 2027.1.HotelsICRA projects nationwide premiumhoteloccupancytoreachapproximately 70-72%in FY24 a

58、ndincrease further to around 72-74%inFY25,following a recovery to 68-70%in FY23.The Indian hotel market includingdomestic,inbound and outbound wasestimated at US$32 billion in FY20and is expected to reach US$52billion by FY27.4.Travel AgentsIndias travel market was US$75 billionin size pre-pandemic,

59、expected to crossUS$125 billion by FY27.Travelbookingchannelswouldcontinuetobedominatedbythepresenceofagents,whosemarketshare is expected to be maintained at aconsistent50%+betweenFY20-27,translating into a cumulative bookingvalue of US$65 billion in FY27.Source:Incredible India,Economic Times,News

60、sources123418321Strategies adopted(1/3)MULTIPLE CHANNELSWith the help of Adobe solution suite,the Ministry of Tourism will now be able to engage effectively withvisitors across web and social channels and measure engagement,to deliver real time personalizedexperiences for each visitor,based on their

61、 interest and travel persona.Online travel firm MakeMyTrip has rolled out a channel/platform to help offline travel agents digitalize theiroperational processes and improve customer services.PROMOTION OF DOMESTIC TOURISMAt least 50 destinations will be selected and developed as a complete package of

62、 tourism,announced by theUnion Minister for Finance&Corporate Affairs Ms.Nirmala Sitharaman.These destinations will be selectedthrough challenge mode using an integrated and innovative approach while the focus of development oftourism would be on domestic as well as foreign tourists.The Union budget

63、 for 2024 places significant emphasis on promoting domestic tourism.Finance Minister,Ms.Nirmala Sitharaman announced plans to provide interest-free loans to states aimed at enhancing tourismwithin their respective regions.In 2023,Government urged states to establish a“Unity Mall”in their state capit

64、al or the busiest touristattraction to promote and sell“One District,One Product”,GI items and other handicraft items.Indian Railways to introduce Bharat Gaurav Deluxe AC Tourist Train under Ek Bharat Shrestha BharatScheme that is in line with the Government of India initiative“Dekho Apna Desh”to pr

65、omote domestic tourism.Sector-specific skilling and entrepreneurship development will be dovetailed to achieve the objectives of theDekho Apna Desh initiative.SPIRITUAL TOURISMIndia offers a plethora of spiritual destinations due to diversity of religions,cultures,and languages.Prime Minister Mr.Nar

66、endra Modi stated that the Ganga Pushkarala Yatra,undertaken by the BharatGaurav Tourist Train,starting from Secunderabad Railway Station,Telangana,and passing throughrevered cities like Puri,Kashi,and Ayodhya,will enhance spiritual tourism in India.Source:PIBNote:SOPs-Standard Operating Procedures,

67、B&Bs-Bed and Breakfasts19Strategies adopted(2/3)DATA ANALYTICS AND ARTIFICIAL INTELLIGENCEData collection can be beneficial for travel businesses to gain a deeper knowledge of their customer baseand potential audiences,which can then inform personalized offerings,deliver important tailored newsand e

68、nsure a smooth and seamless experience customized to their specific needs.In 2022,IRCTC introduced AskDISHA 2.0,an Artificial Intelligence and Machine Learning based Chatbotto promote tourism by answering queries pertaining to various travel related services and even helpusers perform various transa

69、ctions like end-to-end ticket booking,and more.In 2019,a major international summit held in Kerala to take up use of artificial intelligence(AI)and othertechnologies in the tourism industry.4DEKHOAPNADESH WEBINARThe Ministry of Ministry of Tourism launched a series of webinars under the“Dekho Apna D

70、esh”Scheme to maintain a dialogue and introduce the citizens to the history,culture,cuisine,heritage,architecture,etc.The webinars include glimpses of the culture,heritage,handicrafts,and cuisine of the destinations,in addition to the tourist spots.Concepts of Responsible Tourism,Sustainable Tourism

71、,Accessible Tourism.5Source:PIBNote:SOPs-Standard Operating Procedures,B&Bs-Bed and BreakfastsM-VISAA special type of Visa is launched by the Government of India in 2014 to cater to the medical tourism industry,Indian e-Medical Visa.Medical Visa has been introduced,which can be given for specific pu

72、rposes to foreign travellers coming toIndia for medical treatment.E-Medical Visa has also been introduced for 166 countries.620Strategies adopted(3/3)SAATHI INITIATIVEIn 2020,the SAATHI initiative with the Quality Council of India was launched to assist the hospitalityindustry to ensure safety and h

73、ygiene for tourists and the workforce.This initiative is aligned with Aatmanirbhar Bharat to sensitize the industry on the COVID regulations,and the Government announced Aatmanirbhar Bharat Package vide which Rs.3 lakh crore(US$36billion)collateral-free automatic loan has been made available for MSM

74、Es.The loan will have a four-year tenure and a 12-month moratorium.7ONE STOP SOLUTIONWith a view to facilitating and extending support to foreign tourists,the Ministry had set up a portalStranded in India to disseminate information regarding the services that helped tourists getinformation/details o

75、f State/UT Tourism Departments and Regional offices of Ministry of Tourism.10Source:PIBNote:SOPs-Standard Operating Procedures,B&Bs-Bed and BreakfastsLIGHTHOUSE TOURISMThe Government of India has identified 78 lighthouses in the country as centres of tourism,which are inthe first phase of Public Pri

76、vate Partnership(PPP).In 2022,Government proposes to develop close to 65 lighthouses located along its coastal belt asplaces of tourist interest under the public-private project(PPP)mode.8TOURIST FACILITATOR CERTIFICATIONThe Ministry of Tourism has introduced the Incredible India Tourist Facilitator

77、(IITF)to provide onlinetraining and accreditation of the Tour Facilitators through a centralized PAN India e-learning module.The first ever IITF Basic Course online exam was conducted in February 2021 for which result wasannounced in March 2021 for 2,230 successful candidates.921Growth DriversGROWTH

78、 DRIVERS22Growth drivers for the tourism market4.POLICY SUPPORTIn the 2024 interim Budget,FinanceMinisterMs.Sitharaman Nirmalaallocated Rs.2,449.62 crore(US$294.8 million)to the tourism sector,a 44.7%increase from the previousfiscal year.An amount of US$30.25 million hasbeen allocated for the PRASHA

79、DSchemeaimingfortheholisticdevelopment of selected pilgrimagedestinations in the country.1.RISING FDI Cumulative FDI equity inflow in theHotel and Tourism industry is US$17.26 billion during the period April2000-June 2024.This constitutes2.48%ofthetotalFDIinflowreceived across sectors.Carlson Group

80、currently has 94operating hotels and is planning toadd about 30 more hotels by theend of 2023.3.GROWING DEMANDDomestic expenditure on tourism is expected torise due to the growing income of households.Several niche offerings such as medical tourism&eco-tourism are expected to create more demand.By 2

81、029,Indias tourism sector is expected to reachRs.35 trillion(US$488 billion)with a growth of6.7%and accounting for 9.2%of the total economy.2.INFRASTRUCTURETourismtendsto encourage the development ofmultiple-use infrastructure including hotels,resorts&restaurants,transport infrastructure(aviation,ro

82、ads,shipping&railways)and healthcare facilities.More than half of the Ministry of Tourisms budget ischannelizedforfundingthedevelopmentofdestinations,circuits,mega projects as well as ruraltourism infrastructure projects.Prime Minister Mr.Narendra Modi inaugurated 9tourism infrastructure projects wo

83、rth Rs.469 crore(US$56.4 million)underSwadeshDarshanandPRASHADschemes,alongside43otherprojectstotaling Rs.963 crore(US$115.9 million).The launcheventsoccurredsimultaneouslyacross52destinations,featuring interventions such as pilgrimfacilitation centers,ghat development,and heritagesite enhancements.

84、1234Source:Make in India,DPIIT23Rising income and changing demographics boosting demandSource:International Monetary Fund,World Economic Outlook Database,April 2021,WTTC-Travel&Tourism Economic Impact 2021India has a robust domestic market which could soften theimpactascomparedwithnationsthatrelylar

85、gelyoninternational tourists.According to the IMF World Economic Outlook(April-2021),theGDP per capita of India in 2021 was projected at US$2,191 atcurrent prices.It is expected to reach US$3,209.67 by 2024.GDP of India grew 7.8%in the fourth quarter of 2024.Indias per capita income is likely to gro

86、w by nearly 70%to US$4,000 by FY30 from US$2,450 in FY23It is expected to reach US$405.84 billion by 2028 from being atUS$199.63 billion in 2018.ICRA projects nationwide premium hotel occupancy to reachapproximately 70-72%in FY24 and increase further to around72-74%in FY25,following a recovery to 68

87、-70%in FY23.The Indian hotel industry is projected to achieve a revenuegrowth of 7-9%in the upcoming FY25.Airport enhancement and the spread of regional airports areopening new opportunities for business,and for drawing largervisits from tourists.OYO estimates India to present a US$26 billion opport

88、unity by2030.To further strengthen its position in India,in October 2021,the company filed its draft red herring prospectus(DRHP)for aninitial public offering(IPO)of Rs.8,430 crore(US$1.2 billion)with the Securities and Exchange Board of India(SEBI).1,403.0 1,750.3 1,800.4 1,982.7 2,156.5 1,765.4 2,

89、301.4 2,450.0 2,730.00 05001,0001,5002,0002,5003,000FY16FY17FY18FY19FY20FY21FY22FY23FY24CAGR 9.98%GDP Per Capita at Current Prices(US$)179.33186.03199.63140.1097.10151.10405.840.0050.00100.00150.00200.00250.00300.00350.00400.00450.002016201720182019202020212028FDomestic Expenditure on Tourism(US$bil

90、lion)24Tourism policies and initiatives boosting the industry(1/8)Ministry of Tourism launched the Swadesh Darshan Scheme to promote the countrys integrated development of thematic tourist circuits.The Ministry of Tourism launched the Swadesh Darshan Scheme to develop theme-based tourist circuits,sa

91、nctioning 76 projects.Upgradedto Swadesh Darshan 2.0(SD2.0),it targets sustainable tourism,selecting 57 destinations for development,with States/UTs preparing plansaccordingly.Ministry has sanctioned 76 projects under the scheme since its inception under 13 themes for a revised sanctioned cost of US

92、$668.95million and has released US$534.9 million(till December 31,2021).Swadesh DarshanNational Mission on Pilgrimage Rejuvenation and Spiritual,Heritage Augmentation Drive(PRASHAD)launched by the Ministry of Tourismas a Central Sector Scheme with the objective of integrated development of the ident

93、ified pilgrimage and heritage destinations.The Prime Minister Mr.Narendra Modi inaugurates and unveils 52 tourism sector projects valued at over Rs.1,400 crore(US$168.5million)under the Swadesh Darshan and PRASHAD Scheme.Since its launch in January 2015 and Ministry has sanctioned 37 projects in 24

94、states with an estimated expenditure of US$146.4 millionand a cumulative amount of US$82.2 million has been released for these projects68 destinations/sites have been identified in 30 States/UTs for development under the PRASHAD Scheme as on March 31,2022.PRASHADSource:Union BudgetNote:National Miss

95、ion on Pilgrimage Rejuvenation and Spiritual,Heritage Augmentation DriveMinistry of Tourism launched the National Integrated Database of Hospitality Industry(NIDHI)scheme in 2020 serving as a commonrepository of data about unclassified tourist accommodation units in the country and assists States/UT

96、s to develop policies and strategies forpromotion and development of tourism at various destinations.This scheme helps tourists to find information on places for accommodation at any destination,assess the carrying capacity of variousdestinations,assess requirements for skilled human resources,facil

97、itate preventive action and place adequate safety measures.NIDHI 25Tourism policies and initiatives boosting the industry(2/8)Ministry of Tourism has partnered with the Quality Council of India(QCI),to assist the Hospitality Industry in their preparedness to continue operations safely and mitigate r

98、isks arising out of the COVID-19 pandemic through an initiative called SAATHI(System for Assessment,Awareness and Training for Hospitality Industry).A hotel/unit goes through the SAATHI framework and agrees to fully follow the requirements wherever applicable possible,and a self-certification is iss

99、ued.Self-certified Hotel/units attend webinars to clarify doubts through live interactions.If Hotel/unit desires,they may undertake site-assessment based on SAATHI framework through QCI accredited agencies and an assessment report with opportunities for improvement is shared with the assessed unit.S

100、AATHI INITIATIVEMDI Scheme launched by the Ministry of Tourism for the revival and revitalization of domestic tourism sector.As per the modified guidelines of MDA dated November 28,2020,financial support will be extended to the tourism service providers forundertaking the promotional activities with

101、in the country such as participation in domestic travel fairs,participation in tourism related,participation in road shows in different regions of the country and for online promotion of tourism destinations and products,tour packages inthe domestic market.Apart from this,financial support will be e

102、xtended to tourism departments of State Governments/UT Administrations for undertaking thepromotional activities within the country.MARKET DEVELOPMENT ASSISTANCESource:Union BudgetNote:National Mission on Pilgrimage Rejuvenation and Spiritual,Heritage Augmentation DriveUnder this Loan Guarantee Sche

103、me for Covid Affected Tourism Service Sector(LGSCATSS),loan up to US$12,110 will be extended toeach Tour Operators/Travel Agents/Tourist Transport Operators approved/recognized by the Ministry of Tourism.Guarantees for Skill Development Loans by the member banks of IBA up to Rs.1.5 lakh(US$1,801)ext

104、ended by lending institutions toeligible borrowers without collateral or third-party guarantee.Upton US$1,211 will be extended to each Regional Tourist Guide/Incredible India Tourist Guide approved/recognized by the Ministry ofTourism and Tourist Guides approved/recognized by the State Govt./UT Admi

105、nistration.LGSCATSS26Tourism policies and initiatives boosting the industry(3/8)Ministry of Tourism launched a 24x7 toll-free multilingual tourist information helpline in 12 languages to facilitate and assist domestic andforeign tourists in terms of information relating to Travel in India and to pro

106、vide a sense of safety and security.Ministry of Tourism had also formulated a set of guidelines in 2012 on“Safety and Quality Norms on Adventure Tourism”as“Basic MinimumStandards for Adventure Tourism Activities”Government has set up Nirbhaya Fund,being administered by the Department of Economic Aff

107、airs,Ministry of Finance,which can beutilized for projects specifically designed to improve the safety and security of women.Safety and Security Initiatives An investment-linked deduction under Section-35 AD of the Income Tax Act is in place for establishing new hotels under the 2-star categoryand a

108、bove across India,thus permitting a 100%deduction in respect of the whole or any expenditure of capital nature.In 2019,the Government reduced GST on hotel rooms with tariffs of Rs.1,001(US$14.32)to Rs.7,500(US$107.31)per night to 12%andthose above Rs.7,501(US$107.32)to 18%to increase Indias competit

109、iveness as a tourism destination.Tax IncentivesMinistry of Tourism has organized a National Conference of DGs/IGs of Police Department of the State/UT Administration on October 19,2022 at New Delhi to implement the uniform Tourist Police Scheme at pan India level.Tourist PoliceSource:World Travel&To

110、urism Council,Union Budget It y is a holistic framework for sustainable and responsible growth of the tourism sector which aims at improving framework conditions fortourism development in the country.The policy is architected around six key guiding principles,five national tourism missions and eight

111、 strategic pillars supported by an elaborateinstitutional and governance framework.National Tourism Policy 202227Tourism policies and initiatives boosting the industry(4/8)The Ministry has set up Hospitality Development&Promotion Board to monitor and facilitate hotel project clearances/approvals.In

112、May 2021,the Union Minister of State for Tourism&Culture Mr.Prahlad Singh Patel participated in the G20 tourism ministers meeting tocollaborate with member countries in protecting tourism businesses,jobs and taking initiatives to frame policy guidelines to support thesustainable and resilient recove

113、ry of travel and tourism.In March 2021,the Indian regional tourism department organised over 300 virtual meetings to tap the tourism potential in the Philippines,Malaysia and Singapore post COVID-19.The three countries pose tremendous opportunities for the Indian tourism as about 9.28 lakhtourists f

114、rom ASEAN countries visited India in 2019an increase of 4.66%over the year.Special Boards&WebinarsWith the Jail Tourism policy,launched in 2019,Tihar Jail in the national capital Delhi,was one of the first to invite tourists.On January 26,2021,the Prison Department of Maharashtra launched its jail t

115、ourism initiative starting with more than 150-year-oldYerawada Central Prison in Pune.Jail Tourism InitiativeElectronic Visa facility covers practically all the countries of the world including foreign nationals of 166 countries and valid for entry at 28designated airports and 5 designated seaports.

116、E-tourist VisaThe Indian Railway Catering and Tourism Corporation(IRCTC)announced a Bharat Darshan Special Tourist Train which will take tourists to major destinations in the country and learn about Indias heritage and culture.Bharat Darshan Tourist TrainSource:World Travel&Tourism Council,Union Bud

117、get28Tourism policies and initiatives boosting the industry(5/8)There is stiff competition among tourism boards from across the country to woo domestic travellers,with an increasing number of people opting forlocal destinations.Key recent developments by state tourism departments are as follows:Jamm

118、u&Kashmir:In April 2021,a mega tourism promotion event“Tapping the Potential of Kashmir:Another Day in Paradise”was organised in Srinagar.The eventaimed to showcase the myriad tourism products of Jammu&Kashmir and promote tourism in the region as the destination for leisure,adventure,eco,wedding,fil

119、ms and MICE tourism steps have been taken by the government to provide better facilities to the old.Uttarakhand:In April 2021,Uttarakhand Chief Minister Tirath Singh Rawat announced an additional 50 vehicles for women drivers for the next tourism season atCorbett Tiger Reserve.Additionally,a light a

120、nd sound show,apart from an amphitheatre,will also be started and the under-construction wildliferescue centre at the Dhela Range of the tiger reserve will be opened to tourists.The strategy of Uttarakhand Tourism is to identify key originatingregions and tourist segments,which would then be the foc

121、us of marketing campaigns.Kerala:The Kerala government has rolled out unique social media campaign where participants could win holiday packages at the lowest possible prices.In February 2021,Kerala rolled out a string of new projects for Rs.60 crore(US$8 million)to encourage tourism and lend visibi

122、lity to 25 locationsin rural and semi-urban areas across the state.Odisha:In February 2021,Odisha Finance Minister Mr.Niranjan Pujari announced an allocation of Rs.942 crore(US$128 million)for three temple projectsin Puri,Bhubaneswar and Sambalpur to boost temple tourism in the state.In June 2021,th

123、e Odisha government announced to provide a financial package for the COVID-hit tourism sector in the state.In July 2021,the Odisha Tourism Development Corporation(OTDC)invited applications to operate shacks on six key beaches of the state.Madhya Pradesh:Madhya Pradesh tourism board has opened the do

124、or for private investment within the state by providing all the aid and facilities to the investors.In May 2021,the state announced to launch of Safe tourism for women in 50 destinations at a cost of Rs.27.98 crore(US$3.8 million).AssamIn June 2021,the state announced to addition of two more nationa

125、l parksDihing Patkai and Raimona,taking the total count to seven.State Initiatives to Promote TourismSource:World Travel&Tourism Council,Union Budget,News Articles29Tourism policies and initiatives boosting the industry(6/8)Tamil NaduIn July 2021,the Tamil Nadu state government decided to implement

126、an integrated mega tourism plan,which included new lightingarrangements for the Thiruvalluvar statue at Kanyakumari,starting renovations at Poompuhar tourist spot and improving roads leading totourist spots,spiritual places and adventure tourism spots.It also includes unveiling a new tourism policy,

127、establishing more hotels,resorts,and convention centres and increasing the contribution of public and private sectors in the tourism sector.The government is focusing onimproving the infrastructure of 300+tourist sites.GujaratIn June 2021,Gujrat rolled out the development of the National Maritime He

128、ritage Complex to attract international tourists.The complex willinclude features such as a heritage theme park,a national maritime heritage museum,a lighthouse museum,a maritime institute and eco-resorts.The Gujarat government launched AATITHYAM,a dashboard for real-time data of domestic and intern

129、ational tourists.The Ministry of Tourism sanctioned three projects for a total amount of Rs.179.68 crore(US$24.24 million)under the Swadesh Darshanscheme in Gujarat.Andhra PradeshIn July 2021,Andhra Pradesh Tourism Authority urged stakeholders in the tourism sector in the state to register with Andh

130、ra PradeshTourism under the Tourism Trade Registration and Facilitation Guidelines 2020.The AP Tourism Development Corporation(APTDC)plansto establish 100 kiosks across the state in the first phase,providing employment opportunities to the youth.TripuraIn October 2021,the Tripura government collabor

131、ated with Info Valley Educational&Research(P)Ltd.as part of a public-privatepartnership(PPP)to run the State Institute of Hotel Management(SIHM).Through the SIHM,the government aims to empower the youthand contribute to the growth of hotels and hospitality management in the state.The government is c

132、oming up with the“Tripura MedicalTourism Policy”to incentivize the establishment of ayurvedic parks,wellness retreats and neuropathy centres.JharkhandJharkhand Tourism Policy offers attractive incentives and opportunities for investors.NagalandNagaland launches initiatives to promote off-road touris

133、m.State Initiatives to Promote TourismSource:World Travel&Tourism Council,Union Budget,News Articles30Tourism policies and initiatives boosting the industry(7/8)Tamil NaduIn July 2021,the Tamil Nadu state government decided to implement an integrated mega tourism plan,which included new lightingarra

134、ngements for the Thiruvalluvar statue at Kanyakumari,starting renovations at Poompuhar tourist spot and improving roads leading totourist spots,spiritual places and adventure tourism spots.It also includes unveiling a new tourism policy,establishing more hotels,resorts,and convention centres and inc

135、reasing contribution of public and private sectors in the tourism sector.GujaratIn June 2021,Gujrat rolled out the development of National Maritime Heritage Complex to attract international tourists.The complex willinclude features such as a heritage theme park,a national maritime heritage museum,a

136、lighthouse museum,a maritime institute and eco-resorts.The Ministry of Tourism sanctioned three projects for a total amount of Rs.179.68 crore(US$24.24 million)under the Swadesh Darshanscheme in GujaratAndhra PradeshIn July 2021,Andhra Pradesh Tourism Authority urged stakeholders in the tourism sect

137、or in the state to register with the Andhra PradeshTourism under the Tourism Trade Registration and Facilitation Guidelines 2020.TripuraIn October 2021,the Tripura government collaborated with Infovalley Educational&Research(P)Ltd.as part of a public-private partnership(PPP)to run the State Institut

138、e of Hotel Management(SIHM).Through the SIHM,the government aims to empower the youth and contributeto the growth of hotels and hospitality management in the state.State Initiatives to Promote TourismSource:World Travel&Tourism Council,Union Budget,News ArticlesIn March 2021,Tourism Minister Prahlad

139、 Singh Patel announced that India will soon unveil a new tourism policy.The new policy focuses on developing medical&religious tourism and will add new destinations other than the popular ones such as the TajMahal and Qutub Minar.Initiatives are also taken to introduce Chinese and Korean languages i

140、n tourist destinations that have more than one lakh visitors.New Tourism Policy in Progress31Tourism policies and initiatives boosting the industry(8/8)Source:World Travel&Tourism Council,Union Budget,News ArticlesIn 2021,Ministry of Road Transport and Highways announced a new scheme,under which any

141、 tourist vehicle operator may apply for an“All India Tourist Authorization/Permit”through online mode.The scheme came into effect from April 1,2021.The new rules for permit will promote tourism across various states of the country and thereby growing revenue of the State Governments.All India Touris

142、t Vehicles Authorisation and Permit Rules,2021India has formalized air bubble arrangements with 17 countries,including Afghanistan,Bahrain,Bhutan,Canada,France,Germany,Iraq,Japan,the Maldives,Nigeria,Oman,Qatar,the UAE,Kenya,Bhutan,the UK,and the USA.In 2021,India signed an air bubble agreement with

143、 neighboring island nation of Sri Lanka under which international flights between the twonations would be allowed to operate.Air bubbleIn the 2024 interim Budget,Finance Minister Ms.Nirmala Sitharaman allocated Rs.2,449.62 crore(US$294.8 million)to the tourism sector,a 44.7%increase from the previou

144、s fiscal year.This marks a positive change from the 2023 Union Budgets initial allocation of Rs.2,400crore(US$288.8 million),later revised to Rs.1,692.10 crore(US$203.6 million).An app will be developed covering all relevant aspects of tourism.States will be encouraged to set up Unity Malls in State

145、 Capital as themost prominent tourism centres to promote One District One Product,GI products,handicrafts and products of other States.Strengthening the Hospitality&Tourism Industry3233.723.828.933.031.332.235.034.636.647.895.30.020.040.060.080.0100.0120.0CAGR 5.33%1.671.761.881.972.312.612.895.650.

146、001.002.003.004.005.006.002012201320142015201620172018 2028FCAGR 7.91%Note:E-Estimated,F-ForecastContinued growth in investments in the tourism sectorCollective Government spending on tourism(US$billion)Capital investments in the tourism sector(US$billion)In the next 3 to 4 years,Ayodhya is anticipa

147、ted to host between 50 to 100 hotels.The city,acclaimed as a global religious destination,is primed for substantialdevelopment,with Taj Hotels poised to establish its fourth property in the area.the Hotels Association of India(HAI)stated that the hospitality and tourismsectoranticipatesgenerating50m

148、illiondirectandindirectemploymentopportunities in the next 5-7 years.MakeMyTrip revealed a partnership with the Department of Tourism,MadhyaPradesh,and redBus to boost tourism in the region,aiming for sustainabledevelopment and positioning Madhya Pradesh as a premier destination.IndianHotelsCorporat

149、ionLtd(IHCL)hasannouncedplanstorecruitapproximately 2,000-2,500 employees in the fiscal year 2025.This expansion ofthe workforce aligns with IHCLs ambitious plans,which include a pipeline of 85hotels.Mahindra Holidays&Resorts India Ltd(MHRIL)intends to invest around Rs,4,500 crore(US$541.6 million)o

150、ver the next three to four years,aiming todouble its room capacity to 10,000.Oberoi Realty,a real estate developer,has partnered with Marriott International,a global hospitality leader,to develop two Marriott properties in Mumbai.OYO announced its venture into sports hospitality,selecting 100 hotels

151、 across12 cities like Delhi,Chennai,and Bangalore.The focus is on catering to largesports events by providing accommodation and services for athletes andofficials.the Radisson Hotel Group announced its rapid expansion in India,securingagreements for 21 hotels across nine different brands in 2023.Lem

152、on Tree Hotels intends to launch 30 new properties across the country thisyear,potentially increasing its room capacity by over 2,000 rooms.Thehospitality chain is optimistic about the demand driven by middle-classconsumers.Source:World Travel&Tourism Councils Economic Impact,News Articles33Growth i

153、n arrivals through e-tourist visa23,69,941 29,28,3038,37,721 72,870 5,74,650 -5,00,000 10,00,000 15,00,000 20,00,000 25,00,000 30,00,000 35,00,00020182019202020212022*Source:Ministry of TourismThe Government of India launched the e-Visa on November27,2014,andsubsequentlye-TouristVisawasinitiallyintr

154、oduced for46 countries.Thee-visa facilityisbeingextended to the nationals of 167 Countries.The latest countryadded is Morocco.The e-Tourist Visa is part of the e-Visa facility which includesan e-Business Visa,e-Conference Visa,e-Medical Visa and e-Medical Attendant Visa.In 2021,the government of Ind

155、ia announced 40,000 e-touristvisas out of 500,000 free regular visas to the tourist,to ensurea geographical spread of the incentive to important sourcemarkets globally.The facility for the e-tourist visa has been extended topassengers arriving at the ports of Mumbai,Mormugao,Mangalore,Kochi and Chen

156、nai and immigration counters havebeen set up at five major ports visited by cruise ships,thusfacilitating the cruise passenger arrivals at the seaports.Medical Visa has been introduced,which can be given forspecific purposes to foreign travellers coming to India formedical treatment.E-Medical Visa h

157、as also been introducedfor 166 countries.CAGR 39.44%Growth in arrivals through e-Tourist visaNote:*-foreign tourists availing e-Visas till June 202234OpportunitiesOPPORTUNITIES35Niche segments offer good opportunitiesMedical tourismIndia has invested heavily in AYUSH and is in a unique position to a

158、ttract medical value travellers for a cure through AYUSH and also forenhancing wellness.Medical tourism and wellness retreats draw the attention of 21%of international travelers,capitalizing on top-tier healthcare amenities andtraditional healing methods.Cruise tourismCruise passenger traffic is pro

159、jected to surge from 0.4 million to 4 million by the year 2032,accompanied by a substantial rise in economicpotential from US$110 million to US$5.5 billion.Moreover,India is looking to take advantage of its 7,500 km coastline to tap growth potential of the cruise tourism segment.Ministry of Tourism

160、is funding the development of cruise terminals,lighthouses and other tourist infrastructure in several coastal location topromote domestic and international cruise terminals at selected ports by 2023.Ministry of Tourism has also sanctioned US$27.7 million for various projects towards the development

161、 of Cruise Terminals and relatedinfrastructure in different States at the major ports under the scheme for Assistance to Central Agencies for Tourism Infrastructure Development.Source:Ministry of Tourism,BMISpiritual tourismPilgrimage travel within India has always been popular domestically.With a s

162、ignificant Indian diaspora spread across the globe,there is also asubstantial overseas segmentThere has been a significant 60%increase in the number of tourists choosing spiritual and wellness retreat packages compared to pre-Covidlevels.Eco tourismIndia has rich natural and eco-tourism resources ra

163、nging from pristine forests,the snow-clad Himalayas,montane grasslands,golden and silver deserts,rivers,lakes,wetlands,mangroves,beaches,volcanoes and corals,housing tremendous biodiversity.Projected to experience a 15.7%growth between 2019 and 2027,reaching a valuation of US$4.55 billion,India pres

164、ents distinctive locales forexploration,including wildlife encounters and pristine,untouched natural landscapes.36Leading states/UTs in terms of touristsUttar Pradesh-Attracted 109.74 million tourists in 2021Domestic Tourists:109.7 millionForeign Tourists:0.044 millionMajor attractions-Taj Mahal,Agr

165、a Fort,Fatehpur Sikri,and SarnathKarnataka-Attracted 81.37 million tourists in 2021Domestic Tourists:81.3 millionForeign Tourists:0.072 millionMajor attractions-Mysore Palace,Hampi,Coorg,and Jog fallsMaharashtra-Attracted 43.68 million tourists in 2021Domestic Tourists:43.5 millionForeign Tourists:0

166、.18 millionMajor attractions-Ajanta and Ellora Caves,Shirdi,Ashtavinayak,and MatheranSource:Ministry of TourismTamil Nadu-Attracted 115.35 million tourists in 2021Domestic Tourists:115.3 millionForeign Tourists:0.057 millionMajor attractions-Meenakshi Temple,Brihadeeswarar Temple,Yelagiri Hills,Hoge

167、nakkal Falls,and Vivekananda MemorialAndhra Pradesh-Attracted 93.22 million tourists in 2021Domestic Tourists:93.2 millionForeign Tourists:0.027 million37Airlines industry set to fly higherGrowth in low-cost airlines is expected to lower ticket fares and increase connectivity.Low-cost airlines willg

168、ive access to more planes allowing airlines to provide more daily flights,new routes,and more connectionson high-frequency routes.In 2022,the UDAN Scheme of the Ministry of Civil Aviation completed 5 years of success,more than 10million passengers flown,and 425 new routes started since the inception

169、 of the scheme,58 airports,eightheliports and two water aerodromes have been connected and 1,000 routes and 220 airports are planned tobe facilitated under the scheme by 2026.Low-cost airlines Source:World Travel&Tourism CouncilThe market is likely to become more competitive due to the entry of an i

170、ncreasing number of internationalflight operators expected to offer improved services to tourists.JVs such as Air Asia and Tata SIA is alreadyserving the Indian skies.Players like Etihad and Vistara have entered the country in the last few years.Increase in international flight operatorsOn March 10,

171、2024,Prime Minister Mr.Narendra Modi unveiled 15 airport projects,which collectively requirea capital expenditure of Rs.9,800 crore(US$1.2 billion).Government of India has set a target to create 220 new airports by 2025.Increasing number of airportsIn the 2024 interim Budget,Finance Minister,Ms.Nirm

172、ala Sitharaman allocated Rs.2,449.62 crore(US$294.8 million)to the tourism sector,a 44.7%increase from the previous fiscal year.During the interim budget 2024,Finance Minister Ms.Nirmala Sitharaman declared on Thursday plans todouble the count of airports to 149.Furthermore,the proposal entails augm

173、enting the number of new airroutes to 517.Higher investmentsIn February 2024,domestic air traffic surged to 126.48 lakh passengers,marking a 4.8%increase from thecorresponding period last year when it stood at 120.69 lakh.Higher passenger traffic38Key Industry Contacts39Key industry contactsAgencyCo

174、ntact InformationFederation of Hotel&Restaurant Associations of India(FHRAI)B-82,8th Floor,Himalaya House,23,Kasturba Gandhi Marg,New Delhi-110001 Phone:91-11-40780780Fax:91-11-40780777E-mail:Website:https:/ Association of India(HAI)B 212-214,Som Dutt Chamber-I,Bhikaji Cama Place,New Delhi-110 066Ph

175、one:91-11-2617 1110/14Fax:91-11-2617 1115 E-mail:Website:http:/ contribution:Spending on accommodation,transportation,attractions and entertainmentIndirect contribution:Travel and tourism investment spending,and Government collective travel and tourism spending Induced contribution:Spending of direc

176、t and indirect employeesGOI:Government of IndiaCAGR:Compound Annual Growth RateRs.:Indian RupeeUS$:US DollarWherever applicable,numbers have been rounded off to the nearest whole number42Exchange ratesExchange Rates(Fiscal Year)Exchange Rates(Calendar Year)YearRs.Equivalent of one US$2004-0544.95200

177、5-0644.282006-0745.292007-0840.242008-0945.912009-1047.422010-1145.582011-1247.952012-1354.452013-1460.502014-1561.152015-1665.462016-1767.092017-1864.452018-1969.892019-2070.492020-2173.202021-2274.422022-2378.602023-2482.802024-25*83.89YearRs.Equivalent of one US$200544.11200645.33200741.29200843.

178、42200948.35201045.74201146.67201253.49201358.63201461.03201564.15201667.21201765.12201868.36201969.89202074.18202173.93202279.82202382.612024*83.70Source:Foreign Exchange Dealers Association of IndiaNote:*-Until October 2024,*-April-October 202443DisclaimerAll rights reserved.All copyright in this p

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