Budget and the Tourism Sector

Budget and the Tourism Sector

India is estimated to contribute USD 250 billion to its GDP from Tourism and create 137 million jobs in the Tourism sector. The tourism industry will also contribute to more than 56 billion USD in Foreign Exchange Earnings, and 25 million foreign arrivals are expected to be achieved by 2030. In FY20, the tourism sector in India accounted for 39 million jobs, which was 8.0% of the total employment in the country.

Time To Look Out For Top Hotel Stocks In India

In line with promoting this industry, the Government launched the ‘Dekho Apna Desh’ campaign back in December 2019 in India. Under this campaign, selected Indian residents were recognized by the Ministry of Tourism for traveling across the industry. In the 2023-24 budget, the Government has decided to promote tourism more actively with the active participation of states, the convergence of government programs, and public-private partnerships. With an integrated and innovative approach, Government has decided to select at least 50 destinations that would be developed as a complete tourism package. In addition aspects like physical connectivity, virtual connectivity, tourist guides, high standards for food streets, and tourist security would be developed. All the relevant aspects would be made available on an App to enhance the tourist experience.

Hospitality Stocks to watch out for

Indian Hotels Company Ltd: Indian Hotels, promoted by Tata Sons Private Limited, is engaged in owning, operating & managing hotels, palaces, and resorts. They currently operate more than 250 hotels in 10+ countries worldwide.

Lemon Tree Hotels Ltd: Lemon tree is engaged in the business of developing, owning, acquiring, renovating, operating, managing, and promoting hotels, motels, resorts, and restaurants.

Mahindra Holidays & Resorts India Ltd: Mahindra Holidays is a leading player in the leisure hospitality industry. The Company is in the business of selling vacation ownership and providing holiday facilities.

EIH Ltd: EIH primarily owns and manages premium luxury hotels and cruisers. It operates under the brands ‘Oberoi’ and ‘Trident’. Their services include airline catering, management of restaurants and airport bars, travel and tour services, car rentals, project management, and corporate air charters.

Royal Orchid Hotels Ltd: Royal Orchid Hotels Limited is engaged in the operations of hotels and allied services.

Indian Railway Catering & Tourism Corporation Ltd: IRCTC is a Central Public Sector Enterprise. It is the only entity authorized by Indian Railways to provide catering services to railways and offer online railway tickets in India. The company operates in four business segments: internet ticketing, catering, packaged drinking water under the “Rail Neer” brand, and travel and tourism.

Companies’ Snapshot

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– Debraj Guha Thakurta & Nischay Avichal

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