Harnessing the Tourism Potential

Tourism has potential to provide 1000 jobs per day – Mr. K.B. Kachru, Chairman, CII NR Committee on Tourism & Hospitality

Mumbai, November 2, 2017: A plenary session ‘Harnessing the Tourism Potential’ was organised at the CII Invest North 2017 conclave at Mumbai. Distinguished panellist from the tourism industry were invited to speak upon the ways to tap the immense potential of the tourism sector in India.

The Indian Tourism and Hospitality Industry is one of the key drivers of growth in the area of the services sector in India. Tourism has a very large potential to generate employment and approximately employs 13 million people across various sub-segments of the sector.

Tourism and Hospitality sector has attracted around US$ 9 billion of Foreign Direct Investment (FDI) during the period April 2000-March 2016, according to the data released by Department of Industrial Policy and Promotion (DIPP).

Today, Tourism and Hospitality sector has emerged as one of the the fastest growing industries globally. India has a huge untapped potential in the tourism sector and if developed properly it has the potential to add tremendous towards the growth of Indian economy.

Mr. K.B. Kachru, CII Chairman – NR Committee on Tourism and Hospitality in his opening remarks mentioned that over last 6 decades Tourism is the fastest growing sector globally and provided over 40 million livelihood across the globe. He further added that tourism has the potential to provide over 1000 employment per day and tourism sector can become one of the largest job providers if developed properly.

Mr. Apurv Kumar, Managing Director, Clarks Group of Hotels, shared that Tourism is contributing 10% to the GDP and employment in the tourism sector has grown at 2% annually. He also mentioned that today we have the fastest growing Tourism economy in G20 nations.

Mr. Mandeep Lamba, Managing Director, JLL India, in his address spoke how new innovations are happening in the tourism industry and the huge potential that India has in the tourism sector. He further added that 35 to 40% return is the bottom line if investments are done suitably in the sector.

Mr. Rahul Pandit, Managing Director and CEO, Ginger Hotels, speaking on the occasion expressed that travel is the biological need of humans, and tourism destination should be treated at par with natural resources. He also said that we are the youngest major economy in the world and travel and hospitality sector has the potential to drive the Indian economy. He also remarked that Tourism should be taught as part of education for it to grow and to increase awareness amongst youngsters.