It is a good time to be part of the impressively growing hospitality and tourism industry in India. With the visa-on-arrival policy propelling this growth, World Travel and Tourism Council (WTTC) sees an above average growth for this sector in India. WTTC’s Annual Economic Impact Report, 2014 says that Travel & Tourism’s economic contribution is set to grow by 7.3% in 2014.
While talking about travel and tourism, India has all the aspects needed to become a preferred tourism destination globally as the total market size of tourism and hospitality industry in this Asian country is soaring to touch US $ 418.9 billion by 2022. Additionally, medical tourism in India is also projected to grow at a compound annual growth rate of around 20% during 2013 to 2015.
What is in store for hotel sector?
In a country like India, travel and tourism sector is set to witness new growth. Several studies indicate that the hotel industry has been registering growth at a cumulative annual growth rate of 14% every year.
Looking at above mentioned positive growth trends of the industry, we can surely conclude that good days are ahead for hospitality industry in India. Read More
Published in: GoArticles.Com