You are here: Home » Economy & Policy » News
Business Standard

Gujarat leads in luring investments in hotels, tourism sector: Study

Gujarat emerges on top with share of 29% amid top 20 major states attracting combined investments worth over Rs 1 lakh cr in the sector as of fiscal 2012-13

BS Reporter  |  Ahmedabad 

Gujarat followed by Maharashtra and Karnataka are leading states attracting significant investments in India's hotels and tourism industry together accounting for about 61 per cent share, noted a recent Assocham study.

"Attracting highest amount of outstanding investments worth over Rs 34,800 crore in India's hotels and tourism industry, Gujarat has emerged on top with lion's share of about 29 per cent amid top 20 major states attracting combined investments worth over Rs 1 lakh crore in the sector as of financial year 2012-13, thereby reflecting upon successful campaign of Gujarat government to attract investors in its tourism sector," according to a study titled 'Indian Tourism Industry: The way forward,' conducted by The Associated Chambers of Commerce and Industry of India (Assocham).

While Maharashtra has ranked second with about 18 per cent share in total outstanding investments attracted by tourism sector across top 20 states in India followed by Karnataka (about 14 per cent share), Odisha and Andhra Pradesh (six per cent each) amid top five states, highlighted the study prepared by the Assocham Economic Research Bureau (AERB).

"Clocking compounded annual growth rate (CAGR) of over 100 per cent, Gujarat has recorded significant surge in domestic tourist arrival in the state which crossed 2.4 crore mark in 2012 from a level of 1.1 crore in 2006," the study further noted.

Garnering a share of about 2.4 per cent in over 103 crore domestic tourist visits across India in 2012, Gujarat is emerging as ninth most-sought after tourist attractions for domestic travelers, the study added. Gujarat ranks 15th in foreign tourist arrival in India as the state attracted about 170,000 foreign tourists in 2012 an increased from 160,000 a year ago thereby clocking an annual growth rate of about 5%.

First Published: Tue, August 19 2014. 20:55 IST