India tourism market: Recovery witnessed after decline during the 2009 financial downturn
Travel and Tourism in India to 2017 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-04 15:53:03
India´s real GDP growth fell to a 10-year low of 5.1% in 2012â2013 from 6.2% in 2011â2012, primarily due to declining investment, elevated inflation, high interest rates and sluggish external demand.
Inbound tourism in India recovered after a brief decline due to the financial downturn in 2009, and domestic and outbound tourism registered healthy growth during the review period. Tourism has a significant impact on the country´s economy: according to the World Travel and Tourism Council (WTTC), tourism contributed 6.6% to the country´s GDP in 2012 and accounted for 7.7% of total employment. India is continually developing its infrastructure, with improvements in both air and ground transport.
The number of hotel establishments in India rose from 2,520 in 2010 to 2,697 in 2012, and is expected to reach 3,675 by the end of the forecast period. India has the second-largest construction pipeline of hotels in Asia after China, with the Indian government providing support by allowing 100% foreign investment under the automatic route in the hotel and tourism-related industry.
A major concern for the tourism sector is the lack of security faced by domestic tourists, with reported cases of physical assault, robbery and sexual harassment. These kinds of incidents damage the potential for tourism growth.
The government of India has undertaken various promotional initiatives to achieve growth in inbound tourist flows to the country. Advertising campaigns such as ´Incredible India´ promote Indian culture and history.
The AAI is undertaking the construction of a new terminal at Chandigarh International Airport. The project involves the construction of a new terminal with the annual capacity to handle 1.5 million passengers. It includes the construction of check-in halls, a ticket area, security screening areas, a baggage claim room, walkways, taxiways and other related facilities. The project will have three two-deck terminal buildings, with departures from the upper level and arrivals at the ground level. Construction works are currently underway and the project is expected to be completed by the fourth quarter of 2014 at an estimated value of US$80 million.
The Gandhinagar Five-Star Hotels project involves the construction of two five-star hotels and a club under the Gujarat International Finance Tech City (GIFT) project. The project will be developed in two phases and will comprise 700 guest rooms. The first hotel will be developed with 300 guest rooms in phase I and is expected to be completed by 2013, while the second hotel in phase II will feature 400 guest rooms and is expected to be completed by 2015. The estimated project cost is US$220 million.
To fortify their positions in the market, car rental companies typically use promotional tools such as deals and discounts, value-added services and internet marketing. They also use technology such as satellite navigation/GPS and digital meters with credit/debit card swipe machines to attract customers. Avis provides Jet Privilege members with special offers so that they can save up to 25% on services in India.
The online travel intermediaries market is still in a developmental stage. However, its revenue growth indicates that it is a rising market and one that could potentially dominate the industry in years to come.
Click for report details: www.companiesandmarkets.com/Market/Travel/Market-Research/Travel ..
Browse all Travel Market Research Reports www.companiesandmarkets.com/Market/Travel/Market-Research?aCode= ..
Browse all Travel Company Profile Reports www.companiesandmarkets.com/Market/Travel/Company-Profile?aCode= ..
Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.