Recently published research from Business Monitor International, "India Tourism Report Q4 2012", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/12/2012 -- The India Tourism Report examines the enormous long-term potential of the country's tourism industry, particularly in terms of the country's position in the regional tourism market.
We examine how best to maximise returns in the Indian tourism market, looking at both government and state-led tourist initiatives. The report also analyses the growth and risk management strategies being employed by the leading players in the Indian tourism sector as they seek to maximise the tremendous growth opportunities offered by the local market.
Data released by the Indian Ministry of Tourism in July 2012 showed tourist arrivals have continued to grow strongly. Between January and June, foreign visitor arrivals totalled 3.2mn, reflecting year-on-year (y-o-y) growth of 7.4%. Although this was below the 9.5% y-o-y growth in the first quarter of the year, this is due to slower arrivals during the traditional low season and we expect arrivals to return to higher growth after the wet season. Foreign exchange earnings continued to grow impressively in the first half of the year, growing by 24.4% y-o-y in rupee terms. Indian carrier Kingfisher Airlines is continuing to suffer, with strikes and walkouts further undermining its precarious financial situation. The airline has struggled since its launch in 2005 but the situation was exacerbated in 2011 when a combination of high oil prices and financing costs for its rapid fleet expansion bit heavily into the bottom line. Since 2011, the airline has reduced its fleet to 15 aircraft from 64, but frequent flight cancellations have deterred passengers from booking with Kingfisher. Concerns about the airline's survival are such that workers have gone on strike to demand prompt payment of salaries.
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India's hotels sector is becoming increasingly competitive as foreign chains take advantage of the country's burgeoning tourism industry. Hotel groups such as Accor and Marriott are looking to substantially increase their footprints in the country, with Accor aiming to open 100 hotels by 2020, up from 13 at present. Similarly, InterContinental Hotels Group (IHG) plans to have 150 hotels by 2020, increasing from 12 currently. This will boost consumer choice in the sector, particularly since many chains are aiming to open hotel brands ranging from budget to luxury options. However, this will increase pressure on domestic hotel groups such as Taj and Oberoi.
- BMI has assessed the diverging fortunes of operators in the airline sector, ranging from the financial difficulties of Air India and Kingfisher Airlines to the rapid expansion of low-cost carrier IndiGo.
- BMI examines the results for the financial year ending in March 2012, with results indicating that the hotels sector is expanding again as tourist arrivals pick up.
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