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New Delhi [India], August 4 (ANI): India's <keyword id="21307504" type="General" weightage="100" keywordseo="outbound-tourism" source="keywords">outbound tourism</keyword> market is expected to reach USD 18817.72 million (USD 18.81 billion) in 2024 and grow at a <keyword id="20256055" type="General" weightage="20" keywordseo="CAGR" source="keywords">CAGR</keyword> of 11.4 per cent in the decade between 2024 and 2034 to reach approximately USD 55388.41 million (USD 55.38 billion), highlighted a FICCI-Nangia knowledge paper. The paper titled '<keyword id="22661864" type="General" weightage="20" keywordseo="Navigating-Horizons" source="Orion">Navigating Horizons</keyword>: <keyword id="22661865" type="General" weightage="20" keywordseo="The-Rise-and-Future-of-Indian-Outbound-Tourism" source="Orion">The Rise and Future of Indian Outbound Tourism</keyword>', released during the '3rd Outbound Tourism Summit' here in the FICCI office earlier this week, asserted that few emerging markets and opportunities for outbound <keyword id="19916662" type="General" weightage="20" keywordseo="travel" source="keywords">travel</keyword> include various Southeast Asian, Middle Eastern, African and Eastern European countries. India's online travel market, which consists of sales of travel services through online channels, is expected to grow at a CAGR of 10.5 per cent between 2024-29, from USD 17.24 billion to USD 28.40 billion. International travel has thus been eased by the steady growth in affordable technology, states the paper. It further states that the government administration and the tourism industry stakeholders in India may undertake various strategic interventions to promote the outbound tourism market. These include bilateral engagement; improved connectivity; support to travel industry stakeholders; marketing of international destinations; curated packages; and hospitality partnerships, among others. Speaking at the launch of the report, Mary M Mutuku, Deputy High Commissioner of Kenya to India said that Kenya is not only committed to deepen the relations between India and Kenya but also promoting Kenya as a preferred tourist destination. "Currently, the India market is among the top 5 Kenya's key sources of tourists, and this has the potential to grow even further," she said in her brief address. To attract more <keyword id="110519" type="General" weightage="20" keywordseo="Indian-tourists" source="Orion">Indian tourists</keyword> to Kenya, Mutuku stated that Kenya has put in place the necessary infrastructure to ease travel in the country. "With an increase in the number of flights between the two countries along with the opening of the Nairobi Expressway, tourists will have more convenience traveling in Kenya. A new cruise terminal at Mombasa port is a major boost to cruise tourism. The berth targets to enhance passenger handling capacity as well as allow for an increased volume of cruise ships arrival at the port," she added. Seitenov Darkhan, Deputy Ambassador, Embassy of Kazakhstan to India had said, "We have huge potential for mutual and beneficial cooperation in the tourism sector. There has been significant growth in the number of tourists coming to Kazakhstan from India which is also due to offering 14 days visa-free regime for Indian tourists along with an increase in a number of direct flights." While highlighting the investment potential for Indian industry, Darkhan further said that in order to meet the needs of Indian tourists in Kazakhstan, it would be advisable to consider building a network of Indian hotels and restaurants in the major cities in Kazakhstan. "We invite major Indian investors to participate in implementing these initiatives in our country," he added. Geshan Dissanayake, Minister Commercial, High Commission of Sri Lanka in India said, "The strong shared heritage between India and Lanka forms the bedrock of our bilateral relationship. India alone stands out as a key source market for Sri Lanka. The integration of the Indian UPI payment system with 'LankaPay' has made simplified payment options for Indian tourists visiting Sri Lanka," he added. Dissanayake further stated that to fully realize the potential of outbound tourism there is a need to focus on marketing and promotion of various offerings by Sri Lanka; infrastructure development; promoting sustainable tourism and further streamlining the visa process. Working together, we can unlock the potential of outbound tourism between India and Sri Lanka," he added. Jyotsna Suri, Past President, of FICCI and CMD, The Lalit Suri Hospitality Group stated that any country has to have healthy inbound and outbound tourism. "<keyword id="644076" type="General" weightage="20" keywordseo="Indian-tourism" source="Orion">Indian tourism</keyword> has witnessed a major growth in the last few years and while we are at the threshold of massive growth, we must be cognizant of sustainability as well," she added. Ankush Nijhawan, Chairman, of FICCI Outbound Tourism Committee and Co-Founder, TBO.com and MD, of Nijhawan Group said that the global travel and tourism industry is expected to reach USD 2.6 trillion by 2027, growing at a CAGR of 8.2 per cent. "Traveler preferences are becoming increasingly diverse, and demand tailor-made travel services. Demographic boost, government support, increased connectivity, and niche segment growth are powering India's outbound travel boom," he added. Representatives from the Embassy of Madagascar to India, the Embassy of Georgia to India, the Malaysia Tourism Promotion Board, Singapore Tourism Board also shared their perspectives during the session.

Indian outbound tourism to reach USD 18817.72 million, grow at over 11% CAGR through 2034: FICCI-Nangia report

Tourism is an important industry for Indian economy as it contributes immensely to the GDP. The Indian tourism and hospitality industry has emerged as the largest service sector in India and in 2014, the tourism sector contributed Rs 7.64 trillion to the GDP, also employing 36.7 million people. 
 
In 2014, travel and tourism investments in India accounted Rs 2.11 trillion or 6.2% of the total investments. 
 
As the tourism industry is growing by leaps and bounds, a report by FICCI and EY highlighted that there were still unexplored destinations in India that had immense potential to pull tourists. 
 
The ‘Unexplored Tourism Destinations of India’ report also noted that if given the right investment such hotels, festivals, activities, etc, India could do wonders in the already flourishing sector. 
 
Here are the places: 
 
(Images: Wikipedia, Indiatimes, mp-tourism.com, damandiuonline.com, dudhwa.co.in, UNESCO)

Budget 2016: 12 kick-ass travel destinations with unseen natural beauty in India

New Delhi, As the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> crisis and subvsequent nationwide lockdown severely impact the Indian <keyword id="34412" type="ORGANIZATION" weightage="20" keywordseo="economy">economy</keyword>, a <keyword id="847761" type="ORGANIZATION" weightage="20" keywordseo="Ficci-survey">FICCI survey</keyword> has said that few sectors like restaurants, auto and real estate may take around 12 to 24 months to recover. The other sectors also severely hit may require similar period to revive, including transportation and tourism, logistics, entertainment and consumer durables. The survey titled 'COVID-19 India: <keyword id="6386662" type="COMPANY" weightage="20" keywordseo="economic">Economic</keyword> Impact &amp; Mitigation', however, said that recovery is dependent on <keyword id="6359453" type="UNKNOWN" weightage="20" keywordseo="consumption">consumption</keyword> stimulus and survival of businesses itself. It said that sectors such as apparel and beauty product, beverages, alcoholic beverages, insurance, agriculture, chemicals, metals and mining, services, industries, offline retail, and healthcare are likely to recover in 9-12 months. In its report, the industry body has said that the Indian industry requires an immediate stimulus package of Rs 9-10 lakh crore, which would account for 4-5 per cent of the country's GDP. The report noted that other countries have also taken similar steps. The debt-to-GDP ratio of India is manageable, it added. "This money to be injected for relief and rehabilitation across all levels of the economy, including people at the bottom of the pyramid, informal workers, micro, small and medium enterprises, and large corporates," it said. The industry body has also suggested setting up of a 'Bharat Self-Sufficiency Fund' with an outlay of Rs 2 lakh crore. It said that the fund could be used to promote scientific research and innovation for building a stronger and resilient nation and creating self-sufficient industry clusters with fully developed value chains within the country for products where India has high import dependence. The report also noted that services such as food retail, telecommunications, utility services and pharmaceuticals have witnessed a boost in the short term and would stabilize in the long term, in about 6-9 months. Further, online healthcare, personal care, online entertainment and education have also received a boost during the restrictions and lockdown and would keep growth momentum in the long term. SEE ALSO:<a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

Hospitality, auto and realty sectors will take 1-2 years to recover says FICCI

<keyword id="6354814" type="UNKNOWN" weightage="80" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword> is keen on bolstering water infrastructure to boost tourism for which he is planning to develop 1,000 islands and 300 lighthouses across India. 
 Addressing a national conference on Inland Waterways organised by FICCI, Road Transport and Highways Minister <keyword id="26680" type="PERSON" weightage="80" keywordseo="Nitin-gadkari">Nitin Gadkari</keyword> said that the Indian Government will seek Parliament nod on a bill for converting 101 rivers into waterways on which Rs 50,000 crore will be spent in next two to three years. 
 
Gadkari informed that Modi had asked the ministry to include the proposal to develop 300 light houses and 1,100 islands in a Cabinet not. 
 
This move could lead to augmentation of water infrastructure in the country. 
 
“A pact between India and Bangladesh is also likely on transportation of goods through waterways between both nations during the PM's visit to the country,” said Gadkari in New Delhi. 
 
On waterways, Gadkari said the government will seek PPP model. 
 
"The government is planning to develop these waterways through the public-private partnership (PPP) mode, which is picking up after a slump," added Gadkari. 
 
He informed that out of 101 rivers to be converted into waterways, detailed project reports (DPRs) for 16 were likely to be completed this month itself. 
Government is setting up four multimodal hubs at Varanasi, Haldia, Sahebganj and Kolkata of the 1,620-km Varanasi to Haldia stretch. 
 
Shipbuilding yards and repair hubs in Assam, Andaman &amp; Nicobar and Kandla in Gujarat are also on the list. 
 
(Image: Reuters)

India to soon have 1000 new ‘tourist friendly’ islands

<ul><li>A legal panel recommended that Indian government make <keyword id="1084645" type="PERSON" weightage="20" keywordseo="sports-betting">sports betting</keyword>, <keyword id="6366684" type="UNKNOWN" weightage="20" keywordseo="gambling">gambling</keyword> a legal practice. </li><li>However, the panel also laid down a number of regulations that the government should put in place for the activity. </li><li>Gambling and <keyword id="54897" type="PERSON" weightage="20" keywordseo="Betting">betting</keyword> are currently allowed with restrictions only in the states of Goa, Daman and Sikkim.</li></ul>The <keyword id="99866" type="ORGANIZATION" weightage="20" keywordseo="Law-Commission-of-India">Law Commission of India</keyword>, this Thursday,<a href="https://www.hindustantimes.com/india-news/legalise-gambling-and-betting-to-help-generate-revenue-jobs-law-panel/story-0oe6dPPdTbKEACaq9wyPYJ.html" data-type="tilCustomLink"> recommended that the government</a> allow gambling and sports betting as a regulated activity under the direct and indirect tax regimes. The report, ‘Legal Framework: Gambling and Sports Betting, including <keyword id="1521" type="CITY" weightage="20" keywordseo="Cricket">Cricket</keyword> in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>’, was submitted to the Law Minister, <keyword id="6354886" type="PERSON" weightage="20" keywordseo="Ravi-Shankar-Prasad">Ravi Shankar Prasad</keyword>. The legal body was asked by the Supreme Court to frame a law in 2016 for legalising betting in cricket. However, the panel decided that since betting and gambling are intertwined, the law could be extended to both. It also said that various “skill-centric” games must be exempted from the current gambling law, just like horse-racing is. However, the panel refused to list any of the games. It said that since it was not possible to completely prevent these activities, a law for “effective regulation” is the only workable option. In a 2013 report, the FICCI estimated that the underground betting market in India is huge pegging it at ₹3,000 billion. Regulating these activities would strike straight at black money circulation and the underworld’s control over the illegal and unregulated gambling industry. The body says that the activity must be taxed with excise like, Income Tax and the Goods and Services Tax as it would help generate revenue for the government, which could further be used for the “welfare of the people”. Though the idea sounds bizarre, it has been done in other countries. To back up their argument, they cited examples of legal betting and gambling in China where the state lotteries sales recorded a high of $51 billion in 2013. Another recommendation was for the government to allow Foreign Direct Investment in Indian casinos and online gaming industry. The report also favours a regulated licensing regime for which only Indian nationals should be eligible for. “Gambling and betting, if any, should be offered only by Indian licensed operators from India possessing valid licences granted by the game licensing authority,” states the report. The bigger picture, however, is that tourism and the hospitality industry is expected to grow, if betting, gambling is regulated and this would further increase job opportunities and increase the revenue in the country. The panel also plans of linking PAN or Aadhar with these activities. It will make transactions mandatorily cashless and will also keep a check on illegal activities like money laundering. The linking will also help the government regulate laws about how much a person is allowed to stake depending on their income, losses or wins and keep a cap on the number of transactions done over a period - monthly, mid-yearly or yearly. The panel has divided gambling into two types - ‘small gambling’ with lower takes for lower income groups and ‘proper gambling’ for higher stakes and high income groups. However, one of the members, Professor S Sivakumar filed a separate note to the government strongly disagreeing with the panel. He said that these recommendations were only for vested purposes and would lead to “unhealthy discussions”. Gambling and betting are currently <a href="https://www.ndtv.com/india-news/betting-in-sports-including-cricket-should-be-legalised-says-law-commission-1878645" data-type="tilCustomLink">allowed with restrictions</a> only in the states of Goa, Daman and Sikkim.

Sports betting, gambling might turn into a regulated, taxed activity in India

<keyword id="1068264" type="PERSON" weightage="100" keywordseo="Wang-Jianlin">Wang Jianlin</keyword>, Chairman of China’s top real estate player-Dalian Wanda Group-, met Indian Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> in New Delhi and expressed his desire to explore business opportunities in India. 
 
If everything goes fine, the Group will invest $10 billion in India in the next 10 years to construct industrial townships and retail properties. 
 
The Beijing-headquartered group, which had an annual income of $38.8 billion in 2014, has a presence in commercial property, tourism, e-Commerce and department stores. 
 
Now, it is looking to build five industrial parks, shopping malls and theme parks in India. Wang is ranked by Forbes as the world's ninth-richest person with a net worth of $40.4 billion. 
 During his China visit last month, Modi had pitched for <keyword id="2523471" type="UNKNOWN" weightage="100" keywordseo="Chinese-investment-in-India">Chinese investment in India</keyword> to bridge a widening trade gap. His visit saw deals worth $22 billion being signed. 
 
"To correct this trade imbalance, it was necessary that Chinese industry invests and manufactures in India instead of exporting its products to India. India needs to look at infrastructure financing from China," DIPP secretary Amitabh Kant said at a FICCI event. 
 
Economic Times reported that the government relaxed Foreign Direct Investment norms in the construction sector, easing a three-year lock-in period and other stringent conditions related to built-up area and minimum capitalisation to attract funding in the cash-starved sector. 
 
In meetings with officials from the Department of Industrial Policy &amp; Promotion, the Ministry of External Affairs and state governments, Wang was keen to know about incentives offered by states and the land acquisition process. He sought information on policies for commercial development and retail construction in Delhi, Haryana, Andhra Pradesh, Gujarat and Maharashtra. 
 
"His team wanted to know about the availability of land banks in these states for commercial and retail infrastructure construction. They also wanted to know about the specific investible projects available in states," a government official told ET. 
 
Though the group entered India through a deal with the Reliance Group in December 2012 to develop the Dhirubhai Ambani Knowledge Centre in Navi Mumbai, it is firming up plans to invest heavily here only now. 
 
Wang also met railway minister Suresh Prabhu, Haryana chief minister Manohar Lal Khattar and private developers. According to sources, Wang met officials of real estate developer DLF as well. The government allowed 100% FDI in railway infrastructure last year. 
 
(Image: PIB)

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Indian outbound tourism to reach USD 18817.72 million, grow at over 11% CAGR through 2034: FICCI-Nangia report

ANI

Budget 2016: 12 kick-ass travel destinations with unseen natural beauty in India

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Hospitality, auto and realty sectors will take 1-2 years to recover says FICCI

IANS

India to soon have 1000 new ‘tourist friendly’ islands

BI India Bureau

Sports betting, gambling might turn into a regulated, taxed activity in India

BI India Bureau

Modi effect? China’s top real estate player looks to invest $10 bn in India

BI India Bureau

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