The Aviation, Travel and Hospitality sectors are vital economic drivers. The World Travel & Tourism Council (WTTC) 2024 projects that travel and tourism will contribute almost INR 21.15 trillion to India’s GDP in 2024, a marked 21% improvement compared to 2019. Jobs are predicted to increase by 2.45 million this year, representing one in every 11 jobs in the country. India’s tourism and hospitality sectors represent a strong force multiplier across allied sectors, employment generation and foreign exchange receipts. Here is what these industries are expecting from the much-awaited Union Budget.
Col. Manbeer Choudhary, CMD, Jewel Classic Hotels Pvt. Ltd.:![](https://travelogymagazine.com/wp-content/uploads/2024/07/Manbeer-Choudhary-300x200.jpg)
Mr Kush Kappor, CEO , Roseate Hotels & Resorts:![](https://travelogymagazine.com/wp-content/uploads/2024/07/Kush-Kapoor-300x300.png)
Shikhar Aggarwal, JMD, BLS International:
“As we approach the forthcoming budget, we at BLS International eagerly anticipate policies that will invigorate the travel and tourism sector, a cornerstone of global economic recovery. The past few years have underscored the sector’s resilience and adaptability, and we are optimistic about its potential. Yet, we firmly believe that strategic government support is crucial to fully harnessing this potential.
We hope to see increased investment in infrastructure that enhances connectivity and accessibility, especially in emerging travel destinations. Fostering public-private partnerships can significantly boost tourist inflows, creating a ripple effect of economic benefits. However, we stress the urgent need for fiscal incentives for sustainable tourism initiatives to encourage environmentally responsible practices and align growth with ecological stewardship.
Moreover, the travel and tourism industry thrives on innovation. Thus, incentives for digital transformation, including advancements in travel technology and digital marketing, can position our nation as a leader in smart tourism. We also advocate for measures that support the workforce, such as skill development programs and employment benefits, ensuring the industry remains robust and competitive.
A forward-thinking budget that prioritising these aspects will rejuvenate the travel and tourism sector and contribute substantially to our economic resurgence and global standing.”
Ankit Kumar, CEO, Skye Air:
“The drone industry is experiencing significant growth, driven by advancements in technology and increasing applications across various sectors. In 2023, the global drone market was valued at approximately USD 23.2 billion and is projected to reach USD 133.6 billion by 2033, growing at a compound annual growth rate (CAGR) of 13.4%. Drones are revolutionizing industries such as agriculture, logistics, e-commerce, and healthcare.
In anticipation of the new Indian budget, it is expected to build on these foundations by providing targeted financial incentives and support for research and development in drone technology. This will not only boost manufacturing but also foster the development of new applications across various sectors such as agriculture, healthcare, and logistics. The key sectors like drone delivery and air taxi services are poised for substantial growth. The budget should prioritize establishing robust regulatory frameworks to ensure safe and efficient operations, alongside incentives for technological advancements and infrastructure development. Furthermore, integrating drone delivery and air taxi services within existing urban planning and transport systems will be vital for creating seamless, sustainable mobility solutions. Overall, a focused and supportive budget can catalyse the rapid expansion and integration of these innovative sectors into mainstream logistics and urban mobility networks. The budget’s focus on training and upskilling youth in drone technology, AI further underscores the government’s commitment to nurturing a skilled workforce that can drive future innovations. Additionally, the government’s efforts to create a favourable business environment through tax incentives, streamlined customs procedures, and support for startups are likely to attract more investment into the sector. This holistic approach aims to make India a global hub for drones by 2030, leveraging the country’s strengths in innovation and engineering.”
Balasubramanian A, Senior VP at TeamLease Services:![](https://travelogymagazine.com/wp-content/uploads/2024/07/Balasubramanian-A-Senior-VP-at-TeamLease-Services.jpg)
Relaxation of visa norms for foreign tourists: Simplified visa processes and targeted marketing campaigns can attract more foreign tourists, potentially doubling tourist arrivals within 5 years. This could create several lakh jobs across the travel and hospitality industry.
Support for MSMEs in the hospitality sector: Financial assistance and skill development programs for small and medium-sized hotels and restaurants can boost their competitiveness and create jobs.
Focus on sustainable tourism: Promoting eco-friendly practices and responsible tourism can attract conscious travelers and improve the long-term sustainability of the sector, potentially leading to new job opportunities in eco-tourism and related fields.”