Budget policies in 2024 could boost Indian hospitality industry’s prospects

Union Budget: India, as a land of diversity, architectural wonders, and vast and varied landscapes, makes for an ideal destination for leisure and business tourism. Travellers seek the country not only for cultural and heritage tourism but also on offer is a varied portfolio of niche tourism products – river cruises, adventure, medical, wellness, sports, MICE, eco-tourism, film, rural, and religious tourism. For a few years, the sector was marred by the pandemic, but has now made a massive comeback and holds great potential for growth and contribution to the Indian economy.The travel and hospitality industry in India is a multi-billion diverse sector driven by factors like disposable income and has attracted the attention of global investors. Recently domestic tourism has been extremely buoyant. Indians are traveling across the length and breadth of their vast country for leisure tourism, for events and weddings and to experience spirituality. Government schemes like Swadesh…