World Bank has recently reported that India faces a severe slowdown in FY20 GDP by 6 % in South Asia Economic Focus report. The World Bank in its analysis found that the significant weakness of Indian economic activity during the first half of 2019 is largely driven by external and cyclical factors.
For the first time in six years, the GDP growth of the Indian Economy in the first financial quarter of April-June 2020 has touched down the lowest. During January to March, it downfall to 5.8%. Indian Economy’s key sectors – Agriculture, Automobile, Real Estate, FMCG are also facing severe slump.
Apart From This You Will Find More to Explore :
It is good for all that Indian Tourism sector is remained unaffected by the economic slowdown. Nothing can able to stop the wandering souls. Not the money, not the time, not the cases, not the places, they are the tourists who are helping themselves in exploring and making India’s economy grow.
Fact: Tourism is Growing Vastly in India At A Large Scale:
India, being adored by millions around the globe attracted more than 15.54 million in 2017 registering the growth of approx. 5.2%.
The time-frame of months from January to July 2019 witnessed a total of 15, 34,293 tourists who arrived on the e-tourist visa. The numbers were 12,68,077 during January – July 2018.
And it is expected that this Diwali Season, India is going to showcase its charm to the foreign tourists and they are all set to see its varied colours.
Major Factors: We’ve Made Visa Process Simpler:
E-visa is quick, easy and fast to process:
E-Visas are proving to be really helpful in impressing and attracting foreign clients, this is extensively helping the Indian tourism sector. Moreover, the government is also quite inclined to taking initiatives to boost the tourism sector.
“Government of India does not make any provision for charging any emergency fee or any emergency/express e-visa for additional fees. Those coming to India are also advised to go through the instructions available on the website of the Bureau of Immigration. To get more information about click here: https://boi.gov.in”.
There are 5 categories under which the E-visa is admissible:
- E-tourist visa
- E-business visa
- E-conference visa
- E-medical visa
- E-medical attendant visa
“The biggest liberalization to make feel tourist welcome had started with the simplification of the Visa system. In order to boost economic growth, revised earnings from services such as eco-tourism, medical tourism, is certainly making India an attractive destination for foreign direct investment.
Relaxation on Taxation
Now the big thing in this is that the sector is expecting a full-boost in tourist footfall as the government has decided to cut GST tax rate on hotel charges.
By Economic Times – On September 20, the GST Council tweaked taxes on several products and services, including hospitality. The GST rate for room tariffs of Rs7,500 and above was reduced to 18 per cent from 28 per cent, while those between Rs1,000 and Rs7,500 would have to pay 12 per cent. Hotels with tariffs of less than Rs1,000 do not attract tax as per an earlier decision. Earlier, the slab of Rs2,500-7,500 attracted 18 per cent tax.
To Be Showed – Promotion
Indian Government has put in tremendous efforts in promoting its tourism. From the last four years, India has relatively and successfully implemented its promotion strategies in branding, advertising and selling out its tourism potentials.
The “Incredible India 2.0” campaign marks a shift from market-specific promotional schemes and generic publicity to content creation worldwide. The campaign which covers the most important source of the supermarkets for Indian tourism Industry. Now, also takes into account emerging markets with significant potential.
These are the factors which have already shown results as India Tourism is growing faster than the World.