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Factors Responsible For Growth Of Hospitality And Tourism Industry In India

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Analysis Of Factors Responsible For Growth Of Hospitality And Tourism Industry In India
Hospitality is the relationship between the guest and the host, or the act or practice of being hospitable. Specifically, this includes the reception and entertainment of guests, visitors, or strangers. Hospitality industry includes hotels, travel & tourism, health clinic, spa, amusement parks and many more.
The individual curiosity for new knowledge, quest and entertainment act as medium for the growth of this industry. This industry also has capability to attract other sectors in the economic owing to the cross synergistic benefits.
Tourism and hospitality industry is the leading service industry worldwide in terms of gross revenue and foreign exchange earnings. Also it is one of the among major employment generators across globe.
In Indian context, it is similar to other countries. Indian hospitality and tourism industry is poised for long term sustainable growth and looks to stabilize and grow further in future. It is clear by “The Travel and Tourism Competitiveness Report” of 2013, published by World Economic Forum, India, …show more content…

Budget Hotels are the next destination by companies as there is emergence of higher middle and lower middle class, which shows huge interest in these sectors. India is famous for its rich history in “Aayurveda” and “Yoga”, besides this many metros has excellent medical facilities in today’s modern and developed technology related to medical science, which makes Medical & Health Tourism a new urge for these sector. New avenues having growth potential are also finding out by these industry owners to attract previous as well potential customers. Emergence of Mixed Land Usage and huge spurt of international brands also make Indian industry aware to find new ways to get competitive

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