Tourism sector in India growing
Tourism in India is rapidly growing on the rise, as the new investment opportunity, as well as market, widens with over US$91.3 billion (Rs 5,949 billion) revenue generated in 2017.
Previously, over US$26 billion (Rs 1,961 billion) spending from the foreign travellers was generated, that further widens the human resource and foreign direct investment to the sector.
Online International and national key players in the tourism and hospitality industry are nowadays emerging with customisation option namely AirBnb, Makemytrip, Cleartrip, Yatra, Goibibo, and OYO Rooms.
As per the new prediction, around 18 million international tourist arrivals are expected by the ministry of India tourism. Additionlaly, professionals in the field predicts around 30.5 million by 2028.
India, having over 35 world heritage sites, rich culture, history, ayurveda and festivals has been attracted by travellers for centuries. India on the other hand, is currently focusing on Ayurveda and yoga, that has healing aliments irrespective to modern medicines.
Medical and MICE tourism, is also having a positive effect in the industry, as low cost high-end medical procedures are done by professional doctors. Back in 2017 around US$3 billion were generated alone from Medical Tourism. Meeting, Incentive, Conferencing, and Exhibition (MICE) on the other hand contributed around US$4.8 billion Rs 292.7 billion revenue annually with top-notch conventional facilities.