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Travel and Tourism is a major contributor to the economy of many countries, India also has emerged a popular travel destination across the globe. Over the last couple of decades, modern communication, growth in wealth, political stability, increased travel options, have led to the growth of the Travel & Tourism market in India and worldwide.
In 2020, the Indian tourism sector accounted for 39 million jobs, which was 8% of the total employment in the country. Indian Government has also increased its focus on growth of tourism sector in India, Rs. 2,400 crore (US$ 309.13 million) has been allocated to the Ministry of Tourism which is 18.42 %higher than the allocation for FY 2021-22
The travel market in India is projected to reach US$ 125 billion by FY27 from an estimated US$ 75 billion in FY20. The Indian airline travel market was estimated at ~US$ 20 billion and is projected to double in size by FY27 due to improving airport infrastructure and growing access to passports. The Indian hotel market including domestic, inbound and outbound was estimated at ~US$ 32 billion in FY20 and is expected to reach ~US$ 52 billion by FY27, driven by the surging demand from travelers and sustained efforts of travel agents to boost the market.
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Explore the major benefits of registering your business as a Private Limited Company.
The company and its members are treated as separate legal persons with distinct identities.
The company continues to exist even after death, insolvency, or resignation of shareholders or directors.
Members are liable only up to the unpaid amount on the shares held by them.
Shares can be transferred easily, making ownership transition simple and structured.
Foreign investors and entities can invest directly in a Private Limited Company.
Company information is publicly available, increasing transparency and trustworthiness.
Download our comprehensive guides to help you understand the business landscape in India and make informed decisions.
