Sample Essay on Contribution of Hospitality Industry to Indian Economy

Contribution of Hospitality Industry to Indian Economy

Hospitality industry is one of the major sectors that have been driving the growth of Indian economy. India ranks 18th in the business travel world and with the rapid growth and development, it is likely to hit the top five spot soon.  Indian hospitality is based on the principle of Atithi Devo Bhava meaning “the guest is God”. The industry covers a widespread variety of services that include food service, hotels and tourism. Unfortunately, the industry has also faced a few challenges here and there.

India holds a special place when it comes to international world of hospitality. There are distinctive landscapes, royal cities, magnificent historical sites, calm and colorful people, rich mores and exceptional mountain retreats that make India a diverse place. Hospitality is a host offering services to guests’ kind of a business venture, and so any person can visit India regardless of his or her location and background.

Hospitality has contributed immensely in the Indian economy.  The contribution of the entire hospitality sector in India in relation to Gross Domestic Product is expected to rise to 9.0% by 2020.  This growth will place India at the third position globally.  Besides playing great roles in the growth of economy in India, hospitality has contributed to the Indians and the nation in general. Here are a few ways to look at;

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  • Creation of employment- Many citizens have been able to enjoy direct or indirect employment in the hospitality industry. Hospitality is providing more than 10% employment India. Chefs, concierges, hotel management staffs and waitresses are frequently hired to keep the industry going strong.
  • Facilitates inward investment- Hospitality industry has always motivated local people to invest in the industry and improve their lives and accumulates wealth. Locals have invested into culture-oriented restaurants that have attracted large numbers of tourist visiting the nation now and then.
  • Encourages utilization of local resources- India is a diverse nation with many resources that interested and capable citizens can ripe tons of money from. There are different natural resources that citizens can preserve and create recreation centers that will offer returns in the process if properly utilized.
  • Facilitates development of infrastructures- With increased number of hotels and many attraction sites, there has been a desire for better facilities. Building new infrastructures in an area creates employment and accumulation of assets and all this boosts growth of economy. Good transport links visitors to attractive areas in India regardless of the distance and this helps boost local economies.

The value of hospitality industry in India is incalculable and critical. It is a major contributor of income, revenue and spurs creation of wealth-yielding businesses.  The Indian government has to play great roles to meet its set goals and visions on hospitality industry.  Government policies should be decentralized when it comes to decision making on the sector.

Local hotels and restaurants should find better ways to promote their services. Profitability is earned in hospitality industry through good standards and quality. Local entrepreneurs in the hospitality industry should be provided with better education and excel in their endeavors.

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