The announcement of the Union Budget 2025 bring out cheers from the tourism and hospitality sector, the focus on infrastructure, employment generation and connectivity in budget has ideally placed strong pillars for the assorted growth of the indian tourism and hospitality sector. Industry leaders and experts have expressed their view on Budget 2025 and have shown optimism for the impact of the Budget, this will have a significant impact on the growth of religious tourism in india, which is estimated to reach a value of around 59 billion dollar by 2028 for the industry while creating about 140 million temporary and parmanent jobs in the country by 2023, it emphasizes travel & tourism a lot.
The goverment's push with respect to infrastructure development, especially in level 2 or 3 cities will provide the connectivity needed to accommodate a larger volume of domestic and international tourists. This builds seamlessly into vision to develop state of the art efficient and sustainable ropeway systems, having enough scope of cooperating in these initiatives and with new tourist destinations now coming in the limelight, there will be a demand for hotels, resorts and homestays in uncharted territories leading to increased investment and development, indian goverment's efforts in connectivity are reflected in adding 120 new destinations across india.
A major priority of the budget is tourism as a leading driver of economic growth and visibility, similar are the goverments pledge to develop 50 tourists destination in the country, the discontinuation of e-visa facalities for a large number of foreign nationals and many other stimulating plans like visa fee waivers for selected countries, all these promising measures are welcoming steps which will help build a vibrant and mixed tourism ecosystem.
The project of branding india as the land of God Buddha and God Ram is likely to attract the Non Resident Indians, which will enhance number of tourists, investment from abroad , furthur development of the industry, as well as the focus on land aquisitions for hotel development are also expected. The cut on medical tourism visa fee is another important step, which would directly benefit hotels financially. In all this Budget is aimed at revitalizing the overall impetus to foreign tourists, postitively absolve growth in hospitality, travel and tourism industry.
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