BACKBONE OF TOURISM
Despite setbacks in the pandemic years, the Indian tourism and hospitality industry has emerged as one of the key drivers of growth in the services sector. The Indian economy has shown resilience and has seen demand from both leisure and corporate segments, which indicates the hospitality sector is on the right track.
The Ministry of Tourism as well as private stakeholders are promoting domestic travel, which we can assure, will remain the backbone of tourism and hospitality in the coming years. Given India’s strategic and inherent advantages, domestic tourism has tremendous opportunity. The industry has realised the need to prioritise products and destinations that would be of interest in the target market and ensure that they deliver value for money. New segments such as rural, wellness, tribal, adventure, MICE, and religious can be developed. Currently, the outlook is that inbound tourism will begin with a moderate flow by Jan 2023 onwards. Inbound inflow is also subject to airline capacity and visas, which is currently an issue. Domestic tourism remains the key to growth in the medium term.