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As the curtain rises on the stage of budgetary announcements, the travel and tourism industry holds its collective breath, anticipating measures that could shape its trajectory of recovery and growth. Industry leaders and experts are vocal about their expectations, urging the government to implement strategic initiatives that not only revive the sector but also position India as a global travel hub.
Novel Destinations and Global Prominence: A Shift in Focus
Deep Banka, COO, Zostel, sets the stage by emphasizing the industry’s eagerness for a budget that goes beyond routine expectations. He states, “Our outlook is that the imminent budget will place a significant emphasis on unveiling novel destinations, establishing additional tourist hubs, and elevating their prominence on the global map.” The industry envisions a strategic redistribution of tourism across diverse geographies, fostering inclusivity and exploration beyond traditional hotspots. Banka highlights the need for a conducive environment for new entrepreneurs and SMEs, with a focus on indirect support mechanisms such as investments in transportation, connectivity, and basic infrastructure to catalyze tourism growth in upcoming, offbeat locations.
Incentives for Infrastructure Development: A Call for Investment
Chirag Agrawal, Co-Founder of TravClan, underscores the need for robust investment in hospitality infrastructure. He suggests, “To build from scratch will take a lot of investment which alone for the private sector might not be commercially viable. The government should provide financial and policy support – it will improve the scale and pace of development.” Agrawal emphasizes the importance of fast-tracking development and investments in airport infrastructure and road connectivity projects to ensure that the tourism boom doesn’t compromise traveler experiences.
Tech-Agile Solutions and Streamlined Processes: Navigating Business Travel
Raj Rishi Singh, Chief Marketing Officer and Chief Business Officer – Corporate, MakeMyTrip, sheds light on the evolving needs of the business travel sector. He states, “Our partnership with Zoho is a testament to this commitment, offering a streamlined and tech-agile solution from travel requisition to expense management.” Singh highlights the significance of adapting to unique business travel needs and providing efficient solutions that seamlessly integrate with existing systems, ensuring maximum efficiency and convenience.
Simplifying Travel and Expense Management: The Role of Technology
Sivaramakrishnan Iswaran, Global Head, Zoho Finance and Operations Suite, delves into the challenges businesses face in managing travel expenses and the role of integrated solutions. He notes, “Businesses today are increasingly looking for better ways to optimize their travel and its associated expenses.” Iswaran emphasizes Zoho’s integrated suite, specifically the Zoho Expense and myBiz integration, as a solution that provides end-to-end travel and expense management processes, contributing to a seamless experience for businesses.
Real Estate Stimulus for Growth: An Unconventional Perspective
Varun Nagpal, Founder & CEO of Vianaar, brings an unconventional perspective to the pre-budget discourse. He suggests, “The Government could consider reducing long-term capital gain to 15% to encourage more investment in the real estate segment.” Nagpal sees this measure not only stimulating growth but also addressing employment concerns in a sector that significantly employs skilled and semi-skilled workers.
Streamlining Processes for Hassle-Free Travel: A Vision for India
Sandeep Arora, Director, Brightsun Travel, casts his vision for the upcoming budget, emphasizing the need for streamlined processes to establish India as a global travel hub. He notes, “This budget is crucial for charting a visionary roadmap.” Arora stresses the importance of digitizing visa and consular services to facilitate smoother processes, leading to an increase in inbound and outbound travel. He also highlights the potential of focusing on connectivity and infrastructure in high-potential tourist destinations to attract foreign tourists and elevate the overall travel experience.
The Call for Special Tourism Investment Regions: A Strategic Move
Arora adds, “Industry experts have already appealed to the government to declare high-potential tourism regions like Ayodhya, Hampi, and Bodh Gaya as Special Tourism Investment Regions (SITR) so that these destinations are prioritized, and all the powers required for their planning and development are transferred to a tourism development authority.” The recent opening of the Ayodhya International Airport is seen as a positive step in the right direction.
As the travel and tourism industry presents its wishlist to the government, the upcoming budget holds the promise of charting a transformative course. From innovative destinations and infrastructure investments to tech-agile solutions and unconventional incentives, the industry envisions a future where travel becomes not just a journey but a seamless and enriching experience for all. The success of these anticipations lies in the hands of policymakers, who have the opportunity to shape a resilient and thriving travel ecosystem for the nation.
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