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Economic Times
3 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
05-05-2025
- Business
- Time of India
India to be among top 10 global tourism markets, says Shekhawat
1 2 Jaipur: Union tourism minister Gajendra Singh Shekhawat Sunday said that the govt is targeting to make the country one of the top 10 destinations in the world. It ranked 39th in the World Economic Forum 's Travel & Tourism Development Index 2024 globally and 54th 2022. He mentioned that meetings, incentives, conferences, and exhibitions (MICE) would be one of the key strategies of the ministry in expanding the sector, which draws heavily on the cultural riches of the country. Speaking at the ministry's 'Meet in India', organised by FICCI for promoting the events industry, Shekhawat said states across the country are unlocking tourism opportunities in their own unique ways and stressed, "Now, it's time for India to position itself firmly on the global MICE map." "With iconic venues like Bharat Mandapam, Yashobhoomi, and Jio World Centre, and with MICE prioritised under the Incredible India campaign , we aim to elevate at least 10 Indian cities into the world's top MICE destinations," said the minister in the presence of over 300 delegates and participants representing the MICE and tourism industry. In fact, the state tourism minister Diya Kumari also highlighted Rajasthan Mandapam, currently under development, and the existing infrastructure and resources required to expand the MICE segment in the state. Citing examples, she mentioned Jaipur hosting the silver jubilee celebration of the International Indian Film Academy awards in March this year. Recognising the impact of MICE on the economy, during India's G20 presidency, meetings attended global leaders were held in many states to provide them exposure in hosting events and building their capabilities. Suman Bery, vice-chairperson, NITI Aayog, said, "We view MICE tourism not only as a promotional opportunity but as a development imperative," urging for more than just infrastructure development. While stressing the need to move towards a comprehensive tourism experience that integrates events, cultural infrastructure, and global best practices to fully unlock its potential, Bery said that centre-state coordination, deregulation, and the breaking down of silos across ministries are key to achieving this vision. 'Pahalgam attack a slight setback for tourism in valley' Jaipur: The Pahalgam terror attack that targeted tourists, killing 26 and injuring scores will have a temporary impact on the work the govt has been doing there, said Gajendra Singh Shekhawat. He said the govt was building six new tourist destinations and those projects will be impacted in the short-term. Calling the incident very unfortunate, he said tourism in the valley has been slightly hit but people have started visiting the also lauded the spirit of the tourists who did not cancel the trips after the attack and went to visit the places in the state.
Trade Arabia
16-04-2025
- Business
- Trade Arabia
UAE offers promising opportunities for tourism investment
The UAE continues to strengthen its position as a leading destination for tourism investment, supported by an attractive investment environment, advanced infrastructure, and policies that foster sectoral growth, reported WAM. The UAE's tourism sector is witnessing a surge in investment opportunities across all areas — from infrastructure development to hotels, resorts, entertainment projects, and sustainable tourism initiatives aligned with the country's green economy goals. Government entities continue to play a pivotal role by launching strategic initiatives to enhance tourist destinations, support innovation, and collaborate with the private sector to uphold the highest standards of quality and excellence. Through its National Tourism Strategy 2031, the UAE aims to rank among the world's top tourist destinations. The strategy seeks to increase the tourism sector's contribution to the GDP to AED450 billion ($122 billion), attract AED100 billion in new investments, and welcome 40 million hotel guests annually by 2031. Last year, the UAE recorded strong growth and significant achievements in tourism. Hotel revenues reached nearly AED45 billion, marking a 3% increase compared to 2023. Hotel occupancy rose to 78%, one of the highest rates both regionally and globally. The UAE ranked first in the Middle East and North Africa and 18th globally in the Travel & Tourism Development Index (TTDI) 2024 issued by the World Economic Forum. According to global consultancy Arthur D. Little, the UAE has gone beyond building luxury hotels, successfully integrating hospitality with rich cultural and entertainment experiences. Industry officials and tourism experts affirmed that the sector still holds vast untapped potential. They emphasise that major projects — within tourism and across other sectors — are set to further stimulate tourism growth and boost the attractiveness of investment in the field. Mohamed Al Rais, Honorary Chairman of Dubai Travel and Tour Agents Group (DTTAG), and Executive Director of Al Rais Travel and Shipping Agencies (Al Rais Group), stated that the UAE has witnessed numerous pioneering and exceptional projects in the tourism sector in recent years. These developments, he said, have elevated the sector to a leading position in the region in terms of tourism experiences, and established the UAE as a global leader in various tourism-related fields. He also emphasised that the UAE continues to strengthen its status as a premier global investment and tourism destination through major projects across its emirates — a testament to investor confidence in the sector's long-term sustainable growth prospects. Hosni Abdelhadi, CEO of Carlton Hotel and Suites UAE, emphasised that the strong momentum in the country's tourism sector reflects a clear leadership vision aimed at solidifying the UAE's position as a fully integrated global tourism and investment destination. He also noted that the ongoing expansion of tourism and hospitality infrastructure projects is boosting investor confidence and opening new avenues for growth.
Arabian Business
14-04-2025
- Business
- Arabian Business
UAE tourism sector eyes more growth as experts target untapped potential
The UAE recorded strong growth and significant achievements in tourism in 2024, with hotel occupancy rising to 78 per cent – one of the highest rates both regionally and globally. The high occupancy levels pushed hotel revenues to reach nearly AED45 billion last year, posting a three per cent increase compared to 2023. Industry officials and tourism experts, however, affirmed that the sector still holds vast untapped potential. They emphasise that major projects — within tourism and across other sectors — are set to further stimulate tourism growth and boost the attractiveness of investment in the field. Mohamed Al Rais, Honorary Chairman of Dubai Travel and Tour Agents Group (DTTAG), and Executive Director of Al Rais Travel and Shipping Agencies (Al Rais Group), said the UAE has witnessed numerous pioneering and exceptional projects in the tourism sector in recent years. These developments, he said, have elevated the sector to a leading position in the region in terms of tourism experiences, and established the UAE as a global leader in various tourism-related fields. Hosni Abdelhadi, CEO of Carlton Hotel and Suites UAE, said the strong momentum in the country's tourism sector reflects a clear leadership vision aimed at solidifying the UAE's position as a fully integrated global tourism and investment destination. He also noted that the ongoing expansion of tourism and hospitality infrastructure projects is boosting investor confidence and opening new avenues for growth. Sector experts said the UAE's tourism sector is witnessing a surge in investment opportunities across all areas – from infrastructure development to hotels, resorts, entertainment projects, and sustainable tourism initiatives aligned with the country's green economy goals. The country ranked first in the Middle East and North Africa and 18 th globally in the Travel & Tourism Development Index (TTDI) 2024 issued by the World Economic Forum. According to global consultancy Arthur D. Little, the UAE has gone beyond building luxury hotels, successfully integrating hospitality with rich cultural and entertainment experiences.
Zawya
14-04-2025
- Business
- Zawya
UAE offers promising opportunities for tourism investment
ABU DHABI: The UAE continues to strengthen its position as a leading destination for tourism investment, supported by an attractive investment environment, advanced infrastructure, and policies that foster sectoral growth. The UAE's tourism sector is witnessing a surge in investment opportunities across all areas — from infrastructure development to hotels, resorts, entertainment projects, and sustainable tourism initiatives aligned with the country's green economy goals. Government entities continue to play a pivotal role by launching strategic initiatives to enhance tourist destinations, support innovation, and collaborate with the private sector to uphold the highest standards of quality and excellence. Through its National Tourism Strategy 2031, the UAE aims to rank among the world's top tourist destinations. The strategy seeks to increase the tourism sector's contribution to the GDP to AED450 billion, attract AED100 billion in new investments, and welcome 40 million hotel guests annually by 2031. Last year, the UAE recorded strong growth and significant achievements in tourism. Hotel revenues reached nearly AED45 billion, marking a 3% increase compared to 2023. Hotel occupancy rose to 78%, one of the highest rates both regionally and globally. The UAE ranked first in the Middle East and North Africa and 18th globally in the Travel & Tourism Development Index (TTDI) 2024 issued by the World Economic Forum. According to global consultancy Arthur D. Little, the UAE has gone beyond building luxury hotels, successfully integrating hospitality with rich cultural and entertainment experiences. Industry officials and tourism experts affirmed that the sector still holds vast untapped potential. They emphasise that major projects — within tourism and across other sectors — are set to further stimulate tourism growth and boost the attractiveness of investment in the field. Mohamed Al Rais, Honorary Chairman of Dubai Travel and Tour Agents Group (DTTAG), and Executive Director of Al Rais Travel and Shipping Agencies (Al Rais Group), stated that the UAE has witnessed numerous pioneering and exceptional projects in the tourism sector in recent years. These developments, he said, have elevated the sector to a leading position in the region in terms of tourism experiences, and established the UAE as a global leader in various tourism-related fields. He also emphasised that the UAE continues to strengthen its status as a premier global investment and tourism destination through major projects across its emirates — a testament to investor confidence in the sector's long-term sustainable growth prospects. Hosni Abdelhadi, CEO of Carlton Hotel and Suites UAE, emphasised that the strong momentum in the country's tourism sector reflects a clear leadership vision aimed at solidifying the UAE's position as a fully integrated global tourism and investment destination. He also noted that the ongoing expansion of tourism and hospitality infrastructure projects is boosting investor confidence and opening new avenues for growth.
