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 the Union Budget 2022-23, Rs. 2,400 crore (US$ 309.13 million) has been allocated to the Ministry of Tourism which is 18.42% higher than the allocation for FY 2021-22.
* In August 2022, Ministry of Tourism sanctioned 76 projects for Rs. 5,399.15 crore (US$ 678.39 million) under Swadesh Darshan Scheme for development of tourism infrastructure in the country.
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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