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October 18, 2022 03:23 am | Updated 09:35 am IST – New Delhi
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India will hold a global meet on investments into its tourism sector and a conference on business tourism next year, cashing in on its G20 presidency which begins from December this year.
The investment meet would be held in Delhi in January-February and the participants would include stakeholders in tourism from all G20 countries, financial institutions, State tourism departments and representatives of various Central government Ministries.
A separate conference on MICE tourism (meetings, incentives, conferences and exhibitions) would be held in April in Bangalore, a senior official in the Ministry of Tourism told The Hindu.
“As of now, the focus of global investments in India’s tourism sector is on the hospitality industry, especially international hotel chains, but through this investors’ conference we will seek to explore fund flow into theme parks, adventure tourism, amusement parks and skiing destination infrastructure,” he said.
The States can also simultaneously showcase their strengths to the international investors in a bid to invite investments for sprucing up their tourism infrastructure.
Apart from this, the tourism ministry has also finalised Siliguri, Rann of Kutch, Kashmir and Goa as destinations for various G20 meetings. This is a bid to use India’s presidency as an opportunity to push the country as a preferred tourist destination, with delegates to be taken on familiarisation tours, officials said.
For India, the tourism and hospitality sector is one of the largest employment generators, and has been a major contributor to Foreign Exchange Earnings.
According to the third Tourism Satellite Account for the years 2017-18, 2018-19, and 2019-20, the contribution of tourism to employment in the country was 14.78%, 14.87% and 15.34% respectively. The total jobs generated by the industry were 7.27 crore (2017-18), 7.58 crore (2018-19) and 7.99 crore (2019-20).
“The conferences being organised by the Tourism Ministry as part of India’s year-long G20 presidency will help position the country as a viable attractive investment destination for global investors. Investments in the hospitality, tourism and travel sector will help build world-class infrastructure, accommodation facilities, restaurants and other related amenities,” Secretary General, Confederation of Hospitality, Technology and Tourism Industry, Anwar Shirpurwala said.
The G20 is a prominent international gathering that includes 19 of the world’s most powerful economies and the European Union, with its members accounting for more than 80% of global GDP, 75% of worldwide commerce, and 60% of global population. Some of the prominent members include European Union, Canada, United States and Australia.
Since its establishment in 1999, India has been a member of the G20. India will take over the G20 presidency on December 1, 2022, and will host the G20 Leaders’ Summit for the first time in 2023.
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