A brief review about Aviation Hospitality & Tourism Industry
The promise and the potential of the Indian aviation market are awesome. Over
135 aircraft have been added in the last two years alone in India's fleet and
hundreds more to be added to the fleet strength in near future. With the
Aviation sector expanding at a fast pace and the number of aircraft being used
on the rise, the need for pilots and air cabin crew is growing. Not
surprisingly, aviation school is the latest buzzword among students as India
would require 7,500-8,000 pilots and around 85,000 to 100,000 or more Air cabin
crew and Ground Personal by 2010. Heavy pay packets are awaiting the aspirants.
Hospitality industry has emerged as the largest global industry of the 20th
century and is projected to grow faster in the 21st century. With the tourism
sector revealing immense potential, global hospitality majors are exploring
plans of entering India. These include Dawnay Day, Whitbread, Jumeirah, Golden
Tulip, Istithmar and Mandarin Oriental.
While hotel companies like Golden Tulip are looking to launch budget hotels,
others like UK's financial and real estate major, Dawnay Day and Whitbread's
Premier Travel Inn, are launching cookie-cutter business models. The Jumeirah
and the Mandarin Oriental are the hi-end luxury hotel brands looking to set base
in the country. Dubai's leading alternative investment house, Istithmar, is
looking to invest in luxury hotels in key gateway cities around the world and
Hospitality majors from India and abroad are likely to pump in close to US$ 1
billion in the next 2 years into the sector. This will surely open up job
opportunities to qualified persons having a relative degree or diploma.
Pay-packets are going to be very high in the hospitality industry.
India has immense potential of growth and National Tourism Policy envisages new
initiative towards making tourism the catalyst in employment generation,
environmental re-generation and socio-economic development. It is boom time for
India's Tourism and Hospitality sector. Driven by a surge in business traveller
arrivals and a soaring interest in India as a tourist destination, the year 2006
has been the best year till date, with foreign visitor arrivals reaching a
record 4.5 million.
Foreign tourist arrivals have grown by 10-15 per cent in the last one year. Over
the last few months, tier-II cities like Jaipur, Gurgaon, Hyderabad, Pune,
Bangalore are seeing growth both in occupancy and room rates. While occupancy is
around 75-80 per cent, room rates are up by 15-20 per cent in these markets. The
importance of tourism for the Indian economy is evident from the fact that it
contributed to 5.9 per cent of the Gross Domestic Product and provided
employment to 41.8 million people.
The year 2006 was not only a record year for India's inbound tourism but was the
fourth year showing a double-digit increase in arrivals. Moreover, arrivals
recorded a double-digit growth in all 12 months of last year -- even during the
lean months of summer and the monsoon period. The 4.5 million arrivals recorded
were 13 per cent above the level of 2005 and reflected an average annual growth
of nine per cent over the six years from 2000.
In a bid to encourage the tourism sector further, the Government is planning to
infuse equity capital of over US$ 55.5 million for reviving Ashok Hotel, Samrat
Hotel and Hotel Janpath in New Delhi. Further, a sum of US$ 16.2 million has
been spent in the current fiscal on the Incredible India campaign to promote
tourism both in the domestic and overseas markets.
The Government has also proposed to declare a conditional 10-year tax holiday
for all tourism projects in the country. While companies would enjoy full tax
exemption up to 50 per cent of the profit, for enjoying tax benefits for balance
amount they would be required to re-invest that part of the profit in tourism
projects. Be it Medical tourism, Adventure tourism, Heritage tourism, Wellness
tourism, Pilgrimage tourism, Golf tourism, Eco-tourism, or Wildlife tourism, the
scope for theme travel is very vast in India. Significantly, the 100 per cent
foreign direct investment regime in tourism permitted through the automatic
route will help boost the country's tourism. With the country hosting the 2010
Commonwealth Games, this share will only increase to about 1.5 per cent in 2010,
from a mere 0.52 per cent in 2006. India's tourism industry is poised to grow to
about US$ 90 billion--from the current US$ 39 billion--in the coming decade.
With the growth of the Tourism industry, more and more jobs opportunities will
open up for trained persons. From tourist guides to travel agents various jobs
will be easily available. What is needed is a degree or diploma in the same
field. Moreover, it will also help eligible persons to self establish themselves
by opening up travel agencies and the like and help others to avail a job.
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