Key Points
The tourism and hospitality sector has high hopes for helpful government policies to cater to the rising domestic tourism demand with quality infrastructure and services..
For years, the hospitality industry has been advocating for infrastructure status, which would grant hotel projects access to affordable debt on par with other industries..
This status promises reduced capital costs, positively impacting project completion timelines, financial well-being, and ultimately improving service quality, infrastructure, and competitiveness.PTIFinance Minister Nirmala Sitharaman ..
Finance Minister Nirmala Sitharaman is all set to present the interim budget on February 1, and the tourism and hospitality sector has high hopes from her..
"To encourage greater Atmanirbharta or local investments, the hospitality sector is looking forward to hotels being accorded the status of an infrastructure industry on the lines of sectors like highways, ports, etc as hotels create key tourism infrastructure of tourist accommodation," K.B. Kachru, Chairman Emeritus and Principal Advisor, Radisson Hotel Group South Asia, has written in ET..
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Budget policies in 2024 could boost Indian hospitality industry's prospects
01, Jan, 24Interim Budget: India's diverse offerings - from cultural heritage to niche tourism like adventure and wellness - continue to lure global travelers. Despite a pandemic setback, the multi-billion-dollar travel sector is resurging, driven by domestic tourism. Government initiatives like Swadesh Darshan and international events like India's G20 presidency bolster the country's reputation as a top leisure, business, and MICE tourism destination.