How Can India Develop Itself As The Leading Country For Hosting Business Events?
The travel and tourism industry’s contribution to India’s GDP is immense. Some recent numbers can give you a fair idea.
In 2020, the travel and tourism industry's contribution to the GDP was USD 121.9 billion; this is expected to reach USD 512 billion by 2028. Also, in 2020, the Indian tourism sector accounted for 31.8 million jobs, which was 7.3 percent of the total employment in the country. By 2029, it is expected to account for about 53 million jobs.
There is no doubt that India has the potential to become the top destination for global business events if the government allocates more funds for developing 'high-end' tourism.
A recent report- 'Rebuilding Tourism For the Future 2022' prepared by Nangia Andersen LLP in association with Ficci underlined some important measures that can catapult India on the global stage as far as international business events are concerned.
Nangia Andersen LLP's Head of Government & Public Sector Advisory Suraj Nangia said, "Travellers and local tourists are embracing technology for a better experience, including making reservations and finding out what the best travel options are."
He believes that artificial intelligence (AI) tools and metaverses will be widely used in the future to provide a virtual experience before actual travel begins.
The report suggested that for the tourism sector to recover, India should develop itself as the leading country for hosting business events, as well as promoting high-end tourism.
"Focus should be placed on improving the attractiveness of India's already strong offer and become the 'World's Meeting Place', with the creating more business events, attracting more to our shores, and growing international audiences -- leveraging the attendance of government to do so," it said.
The report noted that India has immense potential for the development of a world-class adventure activity infrastructure.
"The government should develop a Roadmap for Adventure Tourism to promote a structured and sustainable development. This niche has the potential to promote India as a 365-days destination," it said.
The report said after considering the change in consumer behavior following COVID-19, such as a renewed and increased desire for experiential travel, the government should launch certain festivals/events that can be an attractive offering for travelers.
