Recently published research from Business Monitor International, "India Tourism Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 09/11/2013 -- BMI's India tourism report looks at the enormous potential for growth offered by the tourism market, with a burgeoning domestic economy complementing increases in inbound travel throughout the forecast period. India's increasingly affluent middle class, and its range of natural and cultural tourist attractions make the country a consistently popular destination for both travellers and investors. We therefore expect to see substantial growth across a range of market indicators including arrivals, departures, number of hotels and tourism receipts.
India's transport and accommodation infrastructure is in need of extensive expansion and modernisation. Progress was made in the run up to the the Commonwealth Games in 2010 when, despite some concerns in the run up to the games, massive improvement were made in India's tourism related infrastructure. Moving forward the government is focusing on making extensive improvements to the country's rail and air transport networks. In particular the domestic air travel industry appears to be recovering from economic and managerial problems in 2011 and 2012, caused in part by large fluctuations in oil prices, and BMI expects to see overall growth in air travel moving forward, as the domestic market expands and the coverage of domestic airlines is extended.
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As well as improvements to the country's air travel facilities, India is also embarking on an ambitious programme of extensions and expansions to the country's rail network. Currently the rail network, despite being one of the world's largest, frequently suffers from overcrowding and a lack of adequate facilities which are limiting the growth potential. Continued government support and investment mean substantial improvements should be realised in forthcoming years, and are indeed sorely needed if India is to keep pace with rising demand.
While India itself benefits from a generally stable democracy, with a large labour resource pool, excellent natural resources and strong international market links, regional tensions are a risk to India's tourism market, with any flare up likely to impact heavily on inbound tourism. Security concerns remain in the wake of the Mumbai hotel attacks in 2008, led by terrorist groups based in Pakistan and a spate of high-profile violent attacks on women in the past year, including tourists, could also affect inbound travel. It is therefore important that the government is seen to take a strong stance against violence of this nature.
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