Growth of the Indian Tourism and Hospitality Industry

Abstract

Hospitality and tourism services in India had gradually grown to be a full-fledged industry in the recent past. The reasons are increased travel needs due to better spending habits, promotion by the government, and the developed infrastructural facilities. But definitely the growth of such an industry had significantly contributed towards the overall development of the Indian economy. The hospitality and tourism industry has two specific components (hotel services and travel services) and the performance in each component towards foreign exchange earnings is noteworthy.

This section evaluates The Indian Hospitality Industry’s current Strengths, Weaknesses, and Opportunities & Threats.First,the study identifies the key factors driving the growth and major hindrances, and then suggests the formulation of strategies at the government level as well as private players’level,keeping in view the growth potential and competition from international players.