Budget Quote from Rohit Sethi, Co-Founder, Seclude Hotels Home Style

"While expectations were slightly muted due to the interim nature of the budget, we welcome the government's focus on Atmanirbhar's development of domestic and inbound tourism. The aviation sector via the UDAAN Scheme has consistently improved connectivity by covering 570 additional routes which is a very beneficial growth trend. Government emphasis on consistent development of infrastructure is very encouraging, with Indian carriers proactively placing orders for more than 1,300 aircraft; doubling of airports to 149 within ten years; additional 40,000 rail bogies being converted to Vande Bharat coaches; all of which will go a long way to further boost ease of connectivity for both domestic and international tourists. Providing long-term interest-free loans to promote iconic tourist centres, development of island tourism in destinations such as Lakshadweep, and spiritual tourism are unique areas of special consideration that will have a positive multiplier effect towards job creation and boost local entrepreneurship. There are significant opportunities for India’s tourism sector to be a driver towards the vision of India becoming a developed nation by 2047 by significantly improving the prospects of key social groups mentioned in the latest budget: women, poor, farmers and youth."

Rohit Sethi, Co-Founder, Seclude Hotels Home Style

Budget Reaction Quote from Mrs. Priyanka Sharma, The Revenue Manager of Clarks Exotica Convention Resort & Spa

"In order to catalyze the growth of the hospitality sector and bolster tourism, it is imperative for the government to extend leniency in tax policies and allocate a substantial budget towards the development of infrastructure, enhancing guest experiences, and elevating the standards of hotels. Adopting visa-free or on-arrival policies, as many countries have done, will make us more competitive in the global tourism market.

Furthermore, a significant increase in budget allocation for Leave Travel Allowance (LTA) is crucial. This not only benefits the staff but also serves as a catalyst for domestic tourism. The government should actively promote and invest in initiatives that encourage domestic travel, tapping into the potential of a burgeoning economy and a youthful population.

To facilitate the growth of hotels and resorts, the loan process should be streamlined, ensuring easy access to funds that enhance cash flow and property development. Addressing the high operational costs and providing tax relaxations will alleviate financial burdens on the hospitality industry, ultimately contributing to a more competitive and thriving sector.

Recognizing the current economic landscape, where guest spending capacity is hampered by inflation, it becomes imperative to offer tax relief to boost spending on travel. With a growing economy and increasing incomes, Indians are poised to spend more on travel. Leveraging social media as a powerful tool for marketing and promotion, India is set to become the 4th highest spender by 2030, spending an estimated $410 billion.

As Priyanka Sharma, The Revenue Manager of Clarks Exotica Convention Resort & Spa, rightly asserts, these measures outlined in the post-budget disclosure are essential for positioning India as a premier destination for global and domestic tourists alike, ensuring sustained growth and prosperity in the hospitality sector."

Budget Reaction Quote From Mr. Sandeep Ahuja, MD, Atmosphere Living

Mr. Sandeep Ahuja, MD, Atmosphere Living

“The Vikisit Bharat theme is playing out well. The government has made strides in promoting a prosperous Bharat that is in harmony with nature, modern infrastructure, and opportunities for all citizens to reach their potential. A cross-sectoral development effort that benefits all strata of society has been a key area of focus in the budget. The emphasis by the FM on connectivity will surely lead to increased infrastructure development. There are several new transportation corridors in all modes that are in development and will be crucial for India's growth and development. They will help in creating new jobs, increase efficiency and competitiveness, and enhance citizens’ quality of life. The rise in average real income by 50% and inflation being moderate indicates a likely rise in purchasing power. Lastly, the boost to Green energy to live up to the Net Zero commitment by 2070, will lead to more options being developed by real estate players for sustainable living offerings as well.”