Many American tourism marketers are well-paid. Visit California CEO Caroline Beteta recently collected more than $1.5 million in compensation. Brand USA CEO Chris Thompson recently took home over $700,000.
Indian Tourism Industry to Generate $24 Billion in 2024
17.04.2024 - 07:59 / skift.com / Bulbul Dhawan
The travel and tourism industry in India is projected to generate revenue of nearly $24 billion in 2024, according to industry promotions body India Brand Equity Foundation. At an estimated annual growth rate of 9.6% between 2024 and 2028, the industry is also expected to reach a market volume of $34.25 billion by 2028.
Revenue trend in India: In 2023, the tourism industry recorded a revenue of about $20 billion, according to Statista. Hotels accounted for the largest share of revenue last year. This year, however, this is expected to shift and package holidays are likely to be the biggest revenue generator in 2024. According to an ANI report, package holidays market is expected to reach 65 million travelers by 2028.
India’s efforts to boost tourism: The country has been focusing on boosting tourism, and has announced 100% foreign direct investment in tourism-related ventures in order to facilitate growth of the sector. Efforts are also being made to preserve heritage sites in India while creating quality tourism infrastructure to enhance visitor experience.
The road, rail, and air transportation infrastructure is also being improved. New highways, indigenous superfast trains, and regional airports are being concurrently developed across the country to make travel more convenient and inland destinations more accessible.
Radisson Hotel Group has announced the opening of Pramod Lands End Resort, a member of Radisson Individuals in Gopalpur, Odisha. The 100-room resort marks the group’s entry into Odisha. Radisson’s newly appointed area senior vice president for South Asia Nikhil Sharma said that Gopalpur has untapped tourism potential, and the company’s move to open a property in the location is part of its focus on tier 2 and 3 cities in India.
Radisson has more than 160 operational and developing hotels, with over 50% of its portfolio located in tier 2 and 3 markets. In 2023, the company signed 21 properties, and is especially focusing on key spiritual destinations and inland locations to gain from the first-mover advantage.
India’s newest airline Fly91 is set to add two more destinations to its network this week, taking its operations to six destinations. Starting Thursday, the airline will fly between Goa and Agatti, Lakshadweep. It will also commence flights between Goa, Jalgaon and Hyderabad on April 18.
The budget airline commenced its operations last month and is currently flying between four destinations. It aims to enhance regional connectivity in India and has plans to expand its network to 50 cities over the next five years. For this, the airline is planning to induct 30 aircraft to its fleet.
ITC Hotels has announced the opening of Storii by ITC Hotels, The Kaba Retreat, Solan in
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