2012-06-29 23:47:46 - India Tourism Report Q3 2012 - a new market research report on companiesandmarkets.com
The price of this market report covers 4 quarterly reports on this sector. This quarterly report will be downloadable instantly as a PDF document, with the 3 remaining reports delivered at regular intervals throughout the year.Data released by the Indian Ministry of Tourism in April 2012 showed that tourist arrivals grew strongly in the first quarter of 2012, building on positive growth registered in 2011. Between January and March, visitor arrivals grew by 9.5% year-on-year (y-o-y) to 1.9mn. Growth was particularly strong in March, when arrivals grew by 13.2% y-o-y. Foreign exchange earnings grew by an impressive 42% y-o-y in rupee terms in March, as compared to 6.8% growth over the quarter as a whole.
Such high levels of growth bode
well for performance throughout the rest of the year and are particularly positive in the context of mounting global economic uncertainty. With India having therefore performed well during its traditional high season in the early months of the year, we maintain our forecast for tourist arrivals of 6.8mn in 2012, building on 2011´s positive performance.
India Expands Visa On Arrival System
Local media reports in early 2012 suggest that the Indian government is considering extending the Visa On Arrival (VOA) system to more countries, in order to bolster the tourism industry. The VOA system was first introduced in January 2010 and then applied only to Finland, Japan, Luxembourg, New Zealand and Singapore. In January 2011 it was extended to Cambodia, Indonesia, Vietnam, Laos, Myanmar and the Philippines. Now, it may be extended to countries such as Thailand, Spain, Germany, Brunei, Malaysia, Brazil, South Africa, Russia, France and Sweden. The current visa application system can be unwieldy and time-consuming, so the Indian government may be seeking to attract more tourists by streamlining procedures.
Ministry Of Tourism Launches 2012-2017 Development Plan
In early 2012, Indian President Pratibha Patel launched the country´s 12th five-year tourism development plan, focusing on the 2012-2017 period. During this timeframe, India is targeting average annual tourist arrivals growth of 12%, aiming to create an extra 5mn jobs. A large part of this plan focused on upgrading India´s transport infrastructure. In particular, the government assesses that 30 airports will need to be built or upgraded during the next five years. Between 2012 and 2017, the government has set an investment target of US$13.1bn, with approximately 60% to be sourced from the private sector.
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