Pre Budget Quote | TeamLese Services, Jet Set Go & Ease My Trip | Tourism and Hospitality
/Attributed to Balasubramanian A, Senior VP at TeamLease Services. (General Staffing).
Travel & Hospitality:
Promotion of domestic tourism: Initiatives like "Swadesh Darshan" and infrastructure development at tourist destinations can increase domestic tourism, potentially impacting the sector by Rs. 10,000-15,000 crores. This could lead to significant job creation in hotels, restaurants, transportation, and other tourism-related services.
Relaxation of visa norms for foreign tourists: Simplified visa processes and targeted marketing campaigns can attract more foreign tourists, potentially doubling tourist arrivals within 5 years. This could create several lakh jobs across the travel and hospitality industry.
Support for MSMEs in the hospitality sector: Financial assistance and skill development programs for small and medium-sized hotels and restaurants can boost their competitiveness and create jobs.
Focus on sustainable tourism: Promoting eco-friendly practices and responsible tourism can attract conscious travelers and improve the long-term sustainability of the sector, potentially leading to new job opportunities in eco-tourism and related fields.
Attributed to Kanika Tekriwal, Founder & CEO, JetSetGo
‘’With an optimistic outlook for India in the global aviation market, we expect the newly formed government to provide a customs exemption for Non-Scheduled Operators, akin to the exemptions already available for scheduled air operations. This step would streamline the import process and level the playing field, allowing NSOs to operate more competitively and efficiently. The current tax structure on aviation fuel increases the overall operating cost for everybody in the aviation industry, particularly affecting NSOs operating on tighter margins than larger scheduled airlines. Bringing aviation fuel under the GST regime would result in a more rationalized and lower tax incidence, thus significantly reducing operational costs. This change would enhance the overall efficiency of our operations, leading to more cost-effective services for our customers. If the upcoming budget supports these expectations the growth and sustainability of the private jet and aviation industry will become more efficient, reliable, and affordable, contributing positively to the broader aviation sector and the economy.’’
Nishant Pitti, CEO and Co-Founder, EaseMyTrip
As India gears up for a full budget following the elections, the travel and tourism industry is poised for significant growth and development. The interim budget of February 2024 had already set a positive roadmap, with substantial increases in budgetary allocations for the tourism ministry, highlighting a clear focus on enhancing tourism infrastructure. This approach aims to boost domestic tourism and create new job opportunities.-
The government's commitment to improving connectivity through new railway and port corridors, alongside the growth of air connectivity and airport infrastructure, aligns with the broader economic goals. These initiatives are expected to stimulate local economies and attract both domestic and international tourists.
The emphasis on Foreign Direct Investment (FDI) and the development of iconic tourist centers further underscore the government's strategy to leverage tourism as a catalyst for economic growth. While there were some reductions in overseas promotion budgets, the focus on developing infrastructure and connectivity is anticipated to have a long-term positive impact.
In the aviation sector, the doubling of airports and the success of the Udan scheme are notable achievements. The planned expansion of rail services and the continued development of new airports will further enhance travel experiences across India.
Overall, the travel and tourism industry is set to benefit from these strategic initiatives, fostering growth, employment, and increased international collaboration. The new budget is expected to build on these foundations, ensuring sustained progress and positioning India as a premier global tourist destination.
