The 2010 commonwealth games have to be utilised well
The hospitality sector in India had been performing extremely well in the last couple of years. Hotels across all categories had seen unbelievable growth. The kind of average room rates and occupancies that the hotels here commanded and achieved was practically unheard of in the US & Europe. However, 2009 has been an eye opener for the industry. Keeping with global recessionary trends, India also witnessed an unprecedented slowdown. The growth could not be sustained and the ambitious projections could not be met in the sector.
The major markets of Europe, Americas & Asia dried up and witnessed a steep fall in the number of visitors – both for leisure and business. It was only the strong economy of India and therefore the domestic market, which helped Indian hotels clock decent revenues.
In October, we have seen a revival in business and the market has been steadily picking up. Year 2010 looks good for India and it will be business as normal. With the Commonwealth Games scheduled next year, we hope to see a marked increase in the number of visitors coming to India. The government should capitalise on the games and use it as a platform to showcase the ‘New and Old India’ to the world. All efforts should be undertaken to change the perception of India and market and sell India as a BRAND.
The source markets for India have lots of further potential. I can visualize 10 million tourists/visitors by 2015 provided we increase our awareness and destination marketing campaigns, increase the road shows to key feeder markets and introduce “Upon arrival VISA Policy” at a very reasonable and competitive fee. We need to continue to improve infrastructure projects in the near future. Ministry of Tourism needs to tap the more affluent and high spending market segments and customers such as golf, upscale Incentive movements and continue to strive to increase the MICE Segment. If we all work in the right direction I am confident India will be a top destination on people’s itinerary.
The major markets of Europe, Americas & Asia dried up and witnessed a steep fall in the number of visitors – both for leisure and business. It was only the strong economy of India and therefore the domestic market, which helped Indian hotels clock decent revenues.
In October, we have seen a revival in business and the market has been steadily picking up. Year 2010 looks good for India and it will be business as normal. With the Commonwealth Games scheduled next year, we hope to see a marked increase in the number of visitors coming to India. The government should capitalise on the games and use it as a platform to showcase the ‘New and Old India’ to the world. All efforts should be undertaken to change the perception of India and market and sell India as a BRAND.
The source markets for India have lots of further potential. I can visualize 10 million tourists/visitors by 2015 provided we increase our awareness and destination marketing campaigns, increase the road shows to key feeder markets and introduce “Upon arrival VISA Policy” at a very reasonable and competitive fee. We need to continue to improve infrastructure projects in the near future. Ministry of Tourism needs to tap the more affluent and high spending market segments and customers such as golf, upscale Incentive movements and continue to strive to increase the MICE Segment. If we all work in the right direction I am confident India will be a top destination on people’s itinerary.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Prof. Rajita Chaudhuri's Website
domain-b.com : IIPM ranked ahead of IIMs
Arindam Chaudhuri's Portfolio - he is at his candid best by Society Magazine
IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
IIPM B-School Detail
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Prof. Rajita Chaudhuri's Website
domain-b.com : IIPM ranked ahead of IIMs
Arindam Chaudhuri's Portfolio - he is at his candid best by Society Magazine
IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
IIPM B-School Detail
