Hospitality Sector Optimistic Amid PM Modi's Domestic Travel Push
Hospitality firms upbeat on PM Modi's push for domestic travel demand
Business StandardImage: Business Standard
Prime Minister Narendra Modi's call for prioritizing domestic travel is expected to significantly boost India's hospitality sector. Industry leaders believe this shift will enhance domestic consumption, create job opportunities, and promote tourism in tier-II and tier-III cities, benefiting local economies and small businesses.
- 01PM Modi's appeal for domestic travel aims to ease foreign exchange pressures.
- 02Hospitality leaders anticipate a rise in domestic consumption and tourism.
- 03The shift is expected to create job opportunities in tier-II and tier-III cities.
- 04Indian Hotels Company Limited sees growth potential in destination weddings.
- 05Radisson Hotel Group reports strong momentum driven by domestic demand.
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Prime Minister Narendra Modi's recent appeal for Indians to prioritize domestic travel is set to invigorate India's hospitality sector. Industry leaders, including K B Kachru (president of the Hotel Association of India) and Puneet Chhatwal (managing director of Indian Hotels Company Limited), express optimism that this shift will lead to increased domestic consumption and tourism. Kachru noted that India's domestic travel market is a key growth driver, benefiting hotels, resorts, and local destinations. With nearly 50% of Radisson's portfolio in tier-II and tier-III cities, Nikhil Sharma emphasized the potential for job creation and economic development in these areas. Chhatwal highlighted opportunities in destination weddings, as 88% of Indian Hotels Company Limited's business is focused domestically. The overall sentiment in the hospitality industry reflects a strong belief that the focus on domestic travel will not only enhance tourism but also support small businesses and local economies.
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This initiative could lead to increased job opportunities in the hospitality sector and boost local economies in smaller cities.
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