17 Nov FEBC attends Hotel Invest Forum in India HIFI
Day 2 at Hotel Investment Forum India
The Indian market analysis shows that there is steady growth in the level of investment in the hospitality industry; general GDP growth is at around 7.7%.
This impressive growth rate standard at the highest in the world; greater than China which is around 7%.
Furthermore there is still room for further growth and improvements:
I’m the tourism sector, arrivals of in the country last year was 8 million, which is very low.
The Visa process is still a threat, even though it has been improved recently.
The Aviation industry is having a 20% growth per year, but it needs to be more organised.
The Infrastructure sector still needs vast improvement in order to further facilitate tourism flow across the country.
The demonetization process, that happened recently, even with a potential positive outcome on the medium to long term, has created a temporary shake In the local economy, which was very much cash related.
It is a huge opportunity for the country to grow the tourism sector in the years to come.
FEBC has major development projects in the region, and will be ever present in the market to assist the growth of the hospitality sector in years to come.