ASSOCHAM - CWG 2010 to Spur Indian Tourism Industry Growth
Released on = April 19, 2007, 2:02 am
Press Release Author = Shushmul Maheshwari
Industry = Transportation & Logistics
Press Release Summary = India, the host country for Commonwealth Games 2010, is expected to see tremendous growth in its tourism industry during the event, as per ASSOCHAM.
Press Release Body = “Commonwealth Games 2010” is going to be an even that’ll spur boom in hotel, airline, tour and travel industry as well as in neighboring states, as per ASSOCHAM (Associated Chambers of Commerce & Industry of India) report. Delhi Newsline reported this on March 26, 2007.
With more than ten million foreign visitors coming to India to watch the event, profits would surely go up, stated a forecast-paper on ‘Aftermath of CWG (Commonwealth Games) 2010’. As a result, India’s share of foreign tourist would go up almost 1.5% in 2010 whereas the share was just 0.52% in 2006.
The ASSOCHAM report further projected, the “sporting-event” alone would generate additional job opportunities for more than 5 lack workforce in industries such as hotels, airlines, airports, flyovers, tour operators, besides eco tourism and medical.
Indian hotel industry, currently having occupancy rate of 70%, will observe a good growth of 20% during the event from its current growth rate of 12%. This industry contributes nearly US$ 3-5 Million to exchequer annually, and its contribution is expected double up in 2010 as several hotels come up, the report states.
As per ASSOCHAM, already there’re 70 new hotel projects that are under various phases of development. They are expected to add about 19,000 rooms by the year 2010 with some leading hoteliers searching for “ideal” sites in Delhi & NCR to set up their chains.
Medical tourism is going to be another lucrative area, as it’s anticipated to attract tourists from South Africa, UK, Canada and Malaysia. “It is expected to grow into a US$ 1.5 Billion business by 2010”, Karnataka, Andhra, and Maharashtra will be the key states tapping the flow of tourists arriving for various treatments during the event, added the report.
As per the RNCOS report “Opportunities in Medical Tourism in India (2007)”, with increasing number of medical tourists flocking towards India, medical tour operators will have immense opportunities to grab their own share of financial profits by way of fees-based agreement with the hospitals. Also, Commonwealth Games in 2010 will prepare a prefect platform for the Indian medical tourism industry to showcase its potential and transform the temporary earnings during the event into a permanent, long-term business.
This research report on “Opportunities in Medical Tourism in India (2007)” provides extensive research and objective analysis on the Indian Medical Tourism Industry. This report addresses some issues for today’s global business environment such as healthcare infrastructure, and cost differential in India as compared to major economies of the world.
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