Latest news with #FederationofAssociationsinTourismandHospitality
Economic Times
5 days ago
- Business
- Economic Times
India's tourism sector sector has the unique power to create jobs like no other: FAITH chairman Puneet Chhatwal
Synopsis Federation of Associations in Tourism and Hospitality is preparing to host a national tourism conclave in New Delhi. The event will occur on August 12th and 13th. FAITH aims to promote sustainable tourism development. They envision a $3 trillion tourism economy by 2047. The conclave will focus on job creation and India's global tourism ranking. FAITH chairman, and IHCL MD and CEO Puneet Chhatwal. Federation of Associations in Tourism and Hospitality (FAITH), India's apex tourism policy and strategy think tank of the national associations is holding its national tourism conclave on August 12 - 13 August at Hotel Taj Palace, New members include the Association of Domestic Tour Operators of India (ATOAI), Federation of Hotels & Restaurants Associations of India (FHRAI), Hotel Association of India (HAI), Indian Association of Tour Operators (IATO) and India Convention Promotion Bureau (ICPB) besides other industry bodies. The industry body said all the FAITH Associations are 'deeply committed' to the sustainable development of Indian tourism and its contribution to the nation's economic progress. FAITH shared its Tourism Vision 2047 roadmap of a $3 trillion tourism economy driven by 100 million foreign arrivals and 20 billion domestic visits leading up to 200 million tourism jobs (directly and indirectly). The industry body said the roadmap is aimed to double tourism's GDP share by 2047 to 10% which is aligned with the Govt's vision. "Tourism is not just an industry, it is the heartbeat of nations, driving economies and uniting cultures. Its power lies in its soft influence, whether through business, medical, or spiritual tourism, and its ability to shape a nation's global presence," said FAITH chairman, and IHCL MD and CEO Puneet Chhatwal. "Despite facing challenges, India's tourism sector has shown an invincible spirit. This sector has the unique power to create jobs like no other, with one in four new jobs globally coming from tourism, aviation and hospitality," he added. Chhatwal said, even today, 7-9% of all global employment comes from this sector, and in the years ahead, that number is sure to hit double digits. "It is this vast, interconnected ecosystem of employment that makes tourism not only a driver of growth but a true multiplier of livelihoods. As we move forward, we must harness this spirit, fuel its growth and unlock its true potential to create a brighter, more prosperous future for all," he added. The industry body said the FAITH conclave 2025 aims to build on this vision and identify tangible milestones. FAITH said the key objectives are creating a path to a $3 trillion tourism economy, laying out the roadmap of enhancing employment in tourism from approximately 5 crores currently to almost 20 crores (both directly and indirectly), and positioning India in the top five tourism rankings of the World Economic Forum's (WEF), Travel & Tourism Development Index. Enhancing the foreign exchange earnings from tourism from approximately $30 billion currently to approximately $ 400 billion, and positioning tourism as an essential socio-economic engine of growth by enhancing the domestic tourism visits from almost two billion currently to 20 billion are among the other objectives of the enclave, the industry body said in a statement.
Time of India
5 days ago
- Business
- Time of India
India's tourism sector sector has the unique power to create jobs like no other: FAITH chairman Puneet Chhatwal
Federation of Associations in Tourism and Hospitality (FAITH), India's apex tourism policy and strategy think tank of the national associations is holding its national tourism conclave on August 12 - 13 August at Hotel Taj Palace, New Delhi. FAITH members include the Association of Domestic Tour Operators of India (ATOAI), Federation of Hotels & Restaurants Associations of India (FHRAI), Hotel Association of India (HAI), Indian Association of Tour Operators (IATO) and India Convention Promotion Bureau (ICPB) besides other industry bodies. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program The industry body said all the FAITH Associations are 'deeply committed' to the sustainable development of Indian tourism and its contribution to the nation's economic progress. FAITH shared its Tourism Vision 2047 roadmap of a $3 trillion tourism economy driven by 100 million foreign arrivals and 20 billion domestic visits leading up to 200 million tourism jobs (directly and indirectly). The industry body said the roadmap is aimed to double tourism's GDP share by 2047 to 10% which is aligned with the Govt's vision. "Tourism is not just an industry, it is the heartbeat of nations, driving economies and uniting cultures. Its power lies in its soft influence, whether through business, medical, or spiritual tourism, and its ability to shape a nation's global presence," said FAITH chairman, and IHCL MD and CEO Puneet Chhatwal. "Despite facing challenges, India's tourism sector has shown an invincible spirit. This sector has the unique power to create jobs like no other, with one in four new jobs globally coming from tourism, aviation and hospitality," he added. Chhatwal said, even today, 7-9% of all global employment comes from this sector, and in the years ahead, that number is sure to hit double digits. "It is this vast, interconnected ecosystem of employment that makes tourism not only a driver of growth but a true multiplier of livelihoods. As we move forward, we must harness this spirit, fuel its growth and unlock its true potential to create a brighter, more prosperous future for all," he added. The industry body said the FAITH conclave 2025 aims to build on this vision and identify tangible milestones. FAITH said the key objectives are creating a path to a $3 trillion tourism economy, laying out the roadmap of enhancing employment in tourism from approximately 5 crores currently to almost 20 crores (both directly and indirectly), and positioning India in the top five tourism rankings of the World Economic Forum's (WEF), Travel & Tourism Development Index. Enhancing the foreign exchange earnings from tourism from approximately $30 billion currently to approximately $ 400 billion, and positioning tourism as an essential socio-economic engine of growth by enhancing the domestic tourism visits from almost two billion currently to 20 billion are among the other objectives of the enclave, the industry body said in a statement.
