Tourism and Hospitality

The hospitality and tourism sector is a broad category which consists of the hotel industry, food and beverage industry, entertainment avenues such sports, theatre and films, tourist attractions, air, land and water travel, and tourism, including religious, adventure, sports, film and medical tourism. The country’s rich cultural heritage, diversity of religion, a variety of landscapes and high-end medical services, draw both domestic and international tourists.
This makes it one of the largest service industries of India, and a vital foreign exchange earner. This sector also provides enormous job opportunities and enhances the nation’s growth rate.
Tourism’s role is crucial as it is a significant revenue generator for the country’s economy. The Incredible India initiative has also driven growth in this sector.
Various hospitality and travel websites have also positively impacted tourism, making hotel and travel reservations simple, cost-effective and transparent.
Some of the main sub-sectors in this industry are Hotels, Restaurants, Travel & Tours, Facility Management, Cruise Liners etc.
Travel and Tourism is the largest service industry in India currently. Various initiatives by the government have boosted this sub-sector leading to an increase in the number of tourists and employment generation.
The Food sub-sector is turning out to be a major sector in terms of contribution to the national economy. Restaurants have witnessed a sound growth, fuelled by the advent of a large number of national as well as international chains in the market.
A rise in disposable incomes and a widely travelling populace have led to a boost in the hotel industry, thus generating employment for a large number of people. Moreover, a number of multinational hotel industry giants are initiating joint ventures with domestic players, providing growth in this segment.
The Facility Management sub-sector is an upcoming segment in this industry. It is seeing international players entering the market, hoping to capitalize on the great potential for growth. Main factors driving this are urban development and modernization of office spaces.
Cruise Liners sub-sector is one of the most dynamic and fastest growing components of the leisure industry. India has vast and beautiful coastlines, and idyllic islands making it a popular destination for this sub-sector.