Tourism Investors Meet 2017

Aiming to fill the holes in tourism investments

Business & Politics

July 10, 2017

/ By and / New Delhi

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Federation of Indian Chambers of Commerce and Industry (FICCI) unveiled the third edition of ‘Tourism Investors Meet’ from July 5-6, at the Federation House, FICCI in New Delhi, looking at unravelling the investment potential in tourism infrastructure in India.

The Federation of Indian Chambers of Commerce and Industry (FICCI) organised the third edition of Tourism Investors Meet (TIM) from July 5-6, at Federation House, FICCI, in New Delhi.

The two-day event focused on one-to-one meetings where by exhibiting destinations showcased their policies and facilities with respect to soliciting investment in tourism infrastructure through pre-scheduled structured face-to-face business meetings between the state governments and prominent investors.

On the occasion, various leaders from states like Madhya Pradesh, Rajasthan, Andhra Pradesh, Uttarakhand, Odisha and many more, participated to discuss about the gaps in the tourism sector, development of experiential tourism and creating world-class infrastructure, amongst other issues.

A FICCI-Yes Bank knowledge report titled ‘Investment in Tourism Infrastructure: Igniting India’s Growth Engine’ was also unveiled by the dignitaries, which stated that the tourism investment in India accounted for 5.7 pc of the total investments in 2016, and over the next 10 years the sector is expected to experience increased tourism investment of up to 4.5 pc per annum.

At the event, Rashmi Verma, secretary, Ministry of Tourism, Government of India, discussed that the tourism sector suffers from a gap in terms of world-class infrastructure development in the country’s tourism destinations, and said that there was a shortage of around 100 thousand classified hotel rooms in the country, which can be bridged only by the states as they adopt investor-friendly policies.

The need to develop experiential tourism for foreign tourists such as cruise tourism and textile tourism was also discussed for that purpose overseas offices are also being revamped to reach out to tourists across the globe.

“India’s travel and tourism industry is the seventh largest in the world and is also a major generator of employment and livelihood in India, accounting for 9.3 pc of total employment in 2016 and expected to generate nearly 50 million jobs by 2027. The FICCI-YES BANK knowledge report makes key recommendations towards unleashing the true potential of this vital sector through sustainable infrastructure development. I am confident that this publication will encourage productive dialogue amongst all stakeholders in the travel and tourism value-chain and contribute towards making tourism a key driver of India’s growth story,” said Rana Kapoor, CEO and MD, YES BANK and chairman, YES Global Institute.

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