Has the Indian travel, tourism and hospitality industry got a raw deal with the GST?
Generating over $200 billion in revenue and employing over 40 million people in 2016, the travel and tourism industry contributed almost 10% to India's GDP, earning it the 7th rank in the world, according to a World Travel and Tourism Council (WTTC) report. The hospitality sector provides for a critical and inherent part of this contribution.
The honorable Prime Minister has repeatedly spoken about tourism being an intrinsic part of his vision from an economic growth perspective. Measures such as the ‘Make in India’ campaign and the provision for e-Visas to most of the planet were met with applause and cheer by stakeholders in the business. One almost began to believe that the travel and tourism industry had finally begun to receive the attention it rightfully deserved.
In recent events, including the highly contentious highway liquor-ban and the just declared Goods & Services Tax (GST) announcement, while sectors such as aviation and tour operators are likely to be satisfied with the slabs extended to them, the hospitality business has been meted a second fiddle treatment.
Denne historien er fra June 2017-utgaven av Hotelier India.
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Denne historien er fra June 2017-utgaven av Hotelier India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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