Realising the fact that tourism can emerge as a major contributor to India’s economic growth, most of state tourism ministries/departments are wooing investments to develop world class tourism infrastructure. This testifies the assumption that tourism growth is the logical consequence of infrastructural development. Going by the latest reports in the market, states like Karnataka, Kerala, Chattisgarh and Madhya Pradesh among others organised an Investors Meet in which tourism emerged as a profitable sector from the investment perspective.
Karnataka attracted a whooping investment of Rs 35,000 crores for the tourism and hospitality sector during their Global Investors Meet. It was announced that Hyatt Hotels and Resorts is setting up a five-star hotel in Hampi. Orange County, Somateeram and Windflower are setting up resorts around heritage spots like Pattadakal, Aihole, Belur, Bijapur, Jog, Mysore and Anekal.
Kerala witnessed encouraging response from investors for the sector as well for projects such as a star category hotel EduHealth City at Panakkad and a destination boat club at Thirurangadi, Marine and Leisure Island at Dharmadom, water aquarium in Arookkuty Mist Valley Resort and Spa and a Spice Valley Resort in Idukki district, among others. Kerala also received response from 58 companies for its sea plane project.
Meanwhile, Chhattisgarh received Expressions of Interest from private players for the state’s tourism and hospitality sectors. Madhya Pradesh also organised an Investors Meet in Indore and successfully invited investment for its hotels.
There is also Gujarat which is expecting a massive investment for tourism in the upcoming Vibrant Gujarat Summit in January 2013. During the 2011 Vibrant Gujarat Summit, the state received about Rs. 20, 83,000 crores investment in infrastructure through 7,936 MoUs. States like Bihar, West Bengal, Uttar Pradesh, Andhra Pradesh and Uttarakhand are also going full hog to draw private investment to improve their infrastructure to give a boost to the tourism sector.
We, at T3, feel that other states who are actively promoting tourism, should adopt a similar model of development to give a new dimension to the tourism sector. It will not only create additional employment opportunities but also help in developing cities as tourism hubs.
