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Hospitality Sector is Losing Even as India Jumps to 63rd Position in Ease of Doing Business

Even as Travel and Tourism Sector Grows Overall,

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According to a recent HVS Ease of Doing Business Report , From its 142nd Rank in 2014, India has Swiftly moved up to Rank 63rd in 2019 in the World Bank’s Ease of Doing Business Report. This has been a result of various reforms introduced by Government of India in the past few years

Travel and Tourism Sector Booming,     

The Travel Tourism sector in India, has emerged as the third largest contributor to the country’s GDP contributing 9.2% to India’s GDP and 8.1% to the Country’s Employment in 2018. This has been a result of various initiatives such as Incredible India 2.0, Swadesh Darshan, E-Visa Scheme etc to promote tourism, along with Infrastructure development and improving of Air, Rail and road connectivity to these areas.

Hospitality Sector Backbone, Yet Losing Out

The Indian Hospitality Sector that forms a Back bone of Travel and Tourism Sector and is a direct beneficiary of growth in Travel and Tourism sector, however is on the losing end. 

Challenges of Hospitality Industry

Out of many challenges, the report narrows down following three major factors that have stopped the growth of sector.

To open and Operate a Hotel in India, Number of Approvals required is 70, where as 45 in China, and 26 in Singapore

Indicative Figures

For a full report, along with its recommendations to tackle above concerns Click here

SourceANAROCK

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