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
* 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.
Indian Hotels Company Ltd.
Indian Hotels Company Limited (IHCL) provides a fusion of warm Indian hospitality and world class services to its guests. The group was incorporated in 1903 with its first ever hotel, The Taj Mahal Palace, Mumbai. It is present in 12 countries across four continents including India, North America, United Kingdom, Africa, Sri Lanka, etc. The group has a portfolio of about 200 hotels and an inventory of over 25,000 rooms in over 100 locations. Taj, Vivanta, and The Gateway are the three award winning brands functioning under the group with 37, 33 and 28 hotels operating under the brands, respectively.
Company Website: https://www.tajhotels.com
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Mahindra Holidays and Resorts India Ltd.
Mahindra Holidays and Resorts India Limited (MHRIL) is a part of the leisure and hospitality sector of the Rs. 14,467.23 crore (US$ 20.7 billion) multinational Mahindra Group. It offers conventional vacation ownership programmes. MHRIL is one of the largest vacation ownership brands in the world. It is the market leader in India in vacation ownership industry. As of FY20, the company employed 24 million people across 100 countries. The company has 70 resorts across various locations in India and abroad. MHRIL caters to the urban families which can incur discretionary expenditure on vacations. The company has a vision to be in the top five vacation ownership (VO) companies in the world in terms of member base by 2021.
Company Website: http://www.clubmahindra.com
Read MoreMake My Trip
Make My Trip is India’s leading online travel company which provides Indian traveller with instant bookings and comprehensive choices. It initiated its services by serving the US-India travel market in 2000 offering a range of best-value products and services powered by technology and round-the-clock customer support. It started its operations in India in 2005. It has proactively diversified its products offering by adding a variety of online and offline products and services.
Company Website: https://www.makemytrip.com
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