Advantage India
Robust
Demand
* The medical tourism sector is predicted to increase at a CAGR of 21.1% from 2020-27.
* The travel market in India is projected to reach US$ 125 billion by FY27 from an estimated US$ 75 billion in FY20.
* International tourist arrivals are expected to reach 30.5 million by 2028.
Attractive
Opportunities
* Government is providing free loans to MSMEs to help them deal with the crisis and revive the economy, including the tourism sector.
* Post the pandemic crisis, the government plans to tap into regional tourism by opening doors for South Asian country tourists.
Policy
support
* In October 2021, the Government of India announced plan to resume inbound tourism from November 15, 2021, which is expected to lend a major boost to the tourism sector in India.
* In the Union Budget 2022-23, an additional US$ 316.3 million was earmarked for Ministry of Tourism.
Diverse
Attractions
* India offers geographical diversity, attractive beaches, 37 World Heritage sites, 10 bio-geographic zones, 80 national parks and 441 sanctuaries
* The country’s big coastline is dotted with several attractive beaches.
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