Nandivardhan Jain, CEO & Founder, Noesis Capital Advisors
The Union budget has shown positive signs for the Hospitality, Travel, and Tourism industries, the Union Finance Minister Nirmala Sitharaman has encouraged the states to set up a ‘Unity Mall’ in the state capital or at an attractive tourist destination in the state for the promotion and sale of ‘One District, One product’ (ODOP) and Geographical Indication (GI) products along with other handicrafts.
While the Minister announced 50 tourist destinations will be selected and developed as a whole package for domestic and international tourism, the overall development with this vision is an impetus to the sector. The FM Sitharaman stated, “Dekho Apna Desh’ initiative was launched by the Prime Minister to the middle class to prefer domestic tourism over international tourism whereas ‘Swadesh Darshan Scheme’ was launched for integrated development of theme-based tourist circuits”. Moving towards, emboldening the active participation of states, convergence of government programmes and public-private partnerships. The future seems bright and an exciting one with 50 additional airports, and helipads to be revived to increase connectivity with the budget of 3,114 crores to the union civil aviation ministry. This will further increase the passenger movement and boast the hotel room inventory across the region which will increase employment opportunities and parallelly uplift the community, promoting sustainable tourism.
