Vision 2047: Indian Hotel Industry

India's tourism and hospitality sector, known as the "sunrise industry," significantly fuels the nation's economy through foreign exchange earnings and overall economic development. Despite pandemic challenges, the industry displayed resilience, marking a noteworthy recovery in its GDP contribution in 2021. India provides diverse tourism experiences, from spiritual and adventure to wellness, catering to a wide range of travelers. Domestic tourism thrives, buoyed by a burgeoning middle class and user-friendly digital travel tools. While international tourism faced hurdles during the pandemic, domestic tourism remained steadfast. Looking ahead, the expenditure of domestic tourists is poised to play a substantial role in the industry's future sustainability and growth. Read to find out more. 

Highlights from the report also featured in the Economic Times on August 20, 2023.