India to host G20 investors conference on tourism next year

As part of its bid for the G20 presidency, India will host an investor conference on tourism and a conference on MICE, or business travel, early next year

As part of its bid for the G20 presidency, India will host an investor conference on tourism and a conference on MICE, or business travel, early next year

India will hold a global meeting on investing in its tourism sector and a conference on business tourism next year to capitalize on its G20 presidency, which begins in December this year.

The investment meeting would be held in Delhi from January to February and participants would include tourism stakeholders from all G20 countries, financial institutions, state tourism departments and representatives from various central government ministries.

A separate conference on MICE (Meetings, Incentives, Conferences and Exhibitions) tourism will be held in Bangalore in April, a senior tourism ministry official said The Hindu.

“Up until now, the focus of global investment in India’s tourism sector has been on the hospitality industry, particularly international hotel chains, but through this investor conference we will try to examine the flow of money into theme parks, adventure tourism, amusement parks and ski resort infrastructure,” he said.

At the same time, the states can present their strengths to international investors in order to invite investments to refresh their tourism infrastructure.

Apart from that, the Ministry of Tourism has also set Siliguri, Rann of Kutch, Kashmir and Goa as destinations for various G20 meetings. This is an attempt to use the Indian presidency as an opportunity to promote the country as a top tourist destination, taking delegates on introductory tours, officials said.

For India, the tourism and hospitality sector is one of the biggest generators of employment and has been a major contributor to foreign exchange earnings.

According to the Third Tourism Satellite Account for the years 2017-18, 2018-19 and 2019-20, the contribution of tourism to employment in the country was 14.78%, 14.87% and 15.34%, respectively. The total number of jobs created by the industry was 7.27 million (2017-18), 7.58 million (2018-19) and 7.99 million (2019-20).

“The conferences organized by the Ministry of Tourism as part of India’s one-year G20 presidency will help position the country as a viable, attractive investment destination for global investors. Investing in the hospitality, tourism and travel sectors will help build world-class infrastructure, accommodation, restaurants and other related facilities,” said Anwar Shirpurwala, Secretary-General of the Confederation of Hospitality, Technology and Tourism Industry.

The G20 is a prominent international gathering bringing together 19 of the world’s most powerful economies and the European Union, whose members represent more than 80% of global GDP, 75% of world trade and 60% of the world’s population. Some of the prominent members are the European Union, Canada, the United States and Australia.

India has been a member of the G20 since its inception in 1999. India will take over the G20 presidency on December 1, 2022 and will host the G20 summit for the first time in 2023.

Source

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