India is expected to have around 1.7 bn travellers by 2021, as per a study conducted by HVS and The World Travel & Tourism Council. The report says the country would require 1,88,500 hotel rooms extra to cater to vacationers grabbing flights to India.
According to a recent study, India is likely to have approximately 1,747 million travellers by 2021, which would necessitate 1, 88, 500 extra hotel rooms.
“Considering the way in which travel industry has grown in the past and factoring in the government’s unassuming efforts towards growth in the sector, there will be around 1,747 million travellers and an additional requirement of 1, 88,500 rooms,” says a white-paper on `Hotel Room Supply, Capital Investment and Manpower Requirement by 2021′ by HVS and The World Travel & Tourism Council (WTTC), India.
HVS is a global consulting and services establishment with a focus on the hotel, restaurant, shared ownership, gaming, and leisure industries. On the other hand, WTTC is a forum for business leaders in the tour & travel industry.
The report predicts that by the year 2021, the global travel & tourism industry would see 1,362 billion travellers, of which India is likely to hold a share of 0.8 percent.
When it comes to accommodation, the report says India is going to need a total of 3, 51,540 rooms in order to keep up with the demand of burgeoning inflow of tourists. The report further says budget hotels will be the pivotal aspect of the hospitality industry in India as they usually have more rooms as compared to five-star or luxury hotels. Budget hotels can also be built faster and cheaper in numerous micro-markets as well as in most Tier I, Tier II and Tier III cities, the report said. With more cost-effective hotel alternatives, holiday makers booking cheap flights to India will definitely have more options at their disposal.
India’s current stock of its hotel inventory is 1, 63,038 rooms, which as per the report is less than 15 per cent of the average inventory of Asia Pacific and other global cities.
However, it must be mentioned that over the past few years, the country has witnessed a major push in the hospitality sector with a cluster of global brands entering the market. The domestic brands have also grown substantially, the white-paper said.
“This shift…is reflective of the maturing of the Indian hotel industry and highlights the fact that the country is a prominent market,” the report said.
India is indeed galloping fast towards becoming one of the globe’s biggest travel markets. New airports are being set up, new airlines are offering direct flights to India and social infrastructure is getting modernised. India is surely establishing itself a major player in tourism industry.