The Maldives is a tropical paradise with endless white beaches, crystal clear waters and stunning resorts.
23.07.2024 - 09:37 / skift.com / Bulbul Dhawan
India’s foreign exchange earnings through tourism in 2023 was INR 2.3 trillion ($27.5 billion), according to the government’s latest Economic Survey for 2023-24 – a 66% gain over 2022.
In 2023, more than 9.2 million foreign tourists visited India, up 44% from 2022.
Those are strong gains, however we’ve previously reported that much of India’s recovery post-pandemic is being driven by the domestic tourism market. According to a report by World Travel and Tourism Council (WTTC), international travel spending in India in 2023 was some 14% less than pre-Covid levels.
Hospitality Industry in India: The Economic Survey said that in 2023, the hospitality industry in India added 14,000 rooms, the most it has ever added. The total inventory of “chain-affiliated rooms” in India stood at 183,000.
The survey added that the industry is also working to personalize guest experiences and improve operational efficiencies. “Hotels are also adopting innovative operational strategies, such as leasing or managing external restaurant, spa, and lounge brands, to capitalize on established concepts that attract hotel residents, thereby boosting revenue,” the Survey added.
Data compiled from the monthly reports of hospitality consulting firm HVS Anarock showed that in the 2024 financial year, the average daily rates in Indian hotels increased to INR 7,616 ($91) from INR 6,704 ($80), an increase of 13.6%.
Employment Issues: The survey said that global inflationary pressures and delays in the recovery of capacity have impacted the Indian travel and tourism sector, just as other economies have been hit. “However, the decline in price competitiveness since 2021 has been minimal compared to its peers, with only a 0.7% drop. India’s decline is particularly slight at just 0.1% from 2021 levels,” the Economic Survey stated.
Citing the World Economic Forum’s TTDI 2024 report, the survey said that there is a need for improvements in tourist services and infrastructure, and the development of a skilled workforce. Skift has also previously reported on the worker shortage in the tourism industry in India.
“To formalize employment within this sector, the Ministry of Tourism has initiated the Incredible India Tourism Facilitator Certificate Programme. This program aims to create a skilled cadre of tourist facilitators nationwide through a digital platform,” the survey shared.
The operations across aviation industry in India were restored over the weekend to function smoothly after a Microsoft glitch impacted airline and airport systems. All major airlines, including Air India, Vistara, Indigo, Akasa Air, Air India Express and SpiceJet were impacted by the issue on Friday.
A statement from the Ministry of Civil Aviation on Saturday
The Maldives is a tropical paradise with endless white beaches, crystal clear waters and stunning resorts.
The revenue of Indian tour and travel operators is expected to increase by 15-17% during the 2025 fiscal year, according to projections by credit ratings agency CRISIL. The growth is driven by rising domestic tourism and increasing propensity to travel overseas, the agency said.
India now allows nationals from Japan, South Korea, and the United Arab Emirates to get a visa-on-arrival for tourism, business, conferences, and medical purposes. The visa will be valid for 60 days, and travelers will be able to visit India up to two times during that period.
With Independence Day and Raksha Bandhan just a few days apart with a weekend in between, Indian travelers are looking to use this opportunity to vacation. Online travel agency Agoda has witnessed an increase of over 260% in travel searches from Indians compared to the same period last year.
India’s outbound tourism market is expected to reach $55.4 billion by 2034, annual growth of over 11%, according to a new report by Indian commerce body FICCI (Federation of Indian Chambers of Commerce & Industry). The market is projected to reach $18.8 billion in 2024.
The hotel industry in India is estimated to reach around $247 billion in 2024, and projected to hit $475 billion by 2029, according to market research firm Mordor Intelligence. That’s an annual growth rate of nearly 14%.
Norwegian Cruise Line Holdings executives say they aren’t seeing a reduction in guest spending.
The Indian government has advised airlines to self-regulate and exercise moderation in pricing air tickets, the civil aviation ministry has said. The move has come amid concerns over high airfares, especially during peak periods and festivals.
India’s retail payments body National Payments Corporation of India (NPCI) has launched UPI One World wallet for international travelers visiting India.
For the last few years, most of my everyday spending has gone toward one main goal: unlocking World of Hyatt Globalist elite status via spending on my World of Hyatt Credit Card.
Low-cost Indian carrier SpiceJet has secured its board’s approval to raise up to INR 30 billion ($358 million) through institutional investors, a move disclosed in a filing to the Indian stock exchange on Tuesday.
In the middle of the pandemic, my phone pinged with an email from InterNations, an expat group I had joined after spending time in Switzerland.