Travel and tourism is one of the largest industries in India, with a total contribution of over 247 billion U.S. dollars to the country’s GDP and estimated to double in the coming years. (Statista, 2021). In addition, domestic spending within this sector grew significantly in recent years and was expected to reach nearly 90 percent by 2028 in comparison to international tourism. (Statista, 2021). IHG currently has over 20 hotels located in major cities of India and with great ambitions will be adding more locations. Tourism has positive effects on India’s GPS and the support from the government’s tourism department are green flags for IHG and their expansion goals. The data showing the increase in domestic travels due to an increase in local disposal income in India.
Reference:
Statista. (2021, July 12). Total contribution of travel and tourism to GDP in India 2013–2029. https://www.statista.com/statistics/313724/total-contribution-of-travel-and-tourism-to-gdp-in-india-by-segment/