On the Move
Dalal Street Investment Journal|July 1, 2024
FY 2023-24 was a year of record results and growth for the tourism industry, driven by favourable demographics, increasing employment, higher disposable incomes of a young middle class, robust domestic demand, increased investments and improving infrastructure and connectivity.
On the Move

The Ministry of Tourism of the Government of India initiated several schemes such as Swadesh Darshan, PRASHAD, UDAN and Dekho Apna Desh to promote domestic travel. As many as 50 tourist destinations are in the pipeline for being developed to provide a wholesome tourism experience under the Swadesh Darshan scheme.

Similarly, the PRASHAD scheme aims at the development of select pilgrimage destinations in the country. Additionally, several states of India have also undertaken initiatives and investments to promote local tourism. The government's electronic visa facility now covers practically all the countries of the world, including foreign nationals of 166 countries, and is valid for entry at 28 designated airports and five designated seaports of India. India's remarkable economic growth, coupled with transformative changes, has had a positive impact on the tourism and hospitality sectors, ushering in a golden era.

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