For quite some time now, India has been a sought-out market by most major hoteliers and the hospitality industry at large. What’s more, the focus that these entities have on India is not likely to wane anytime soon – here’s a quick look at why that is.
Within the last two decades, estimates indicate that the number of hotels in India more than quadrupled while the number of branded rooms grew to be almost ten times as much! It is an understatement then, to say that India’s hospitality industry is on the rise – it’s positively booming!
A Growing Economy
One of the major reasons for the increase in hotels in India has to with the country’s economic situation. While the global economic situation has been in a volatile situation in the past few decades, India has been able to steady the ship and ensure that they’ve come out ahead.
The Role of Tourism
Tourism has been instrumental in the growth of the Indian economy. Nearby regions like the Maldives have even stated that India is a key market for them – so much so, that certain major resorts in Baa Atoll are planning to open up new establishments in India.
All this being said, India isn’t just sitting on its laurels right now either. Instead, a number of key initiatives have been planned to take advantage of the current situation in the country. A number of measures are being taken to invite more tourists into the country while also developing all major attractions in the country.