Unlocking the untapped potential of India’s hospitality sector

financialexpress.com:

By Carlos Díez de la Lastra Buigues

India’s allure, with its vibrant culture, historical landmarks, and picturesque landscapes, has mesmerised travellers from all corners of the world, making it a popular tourist destination. As a result, the hospitality sector in the country has witnessed encouraging growth, making a significant contribution to the economy. According to the Indian Brand Equity Foundation, the travel and tourism industry contributed $178 billion to India’s GDP in 2021, and this number is expected to rise to $512 billion by 2028.

However, industry experts believe that this is just the tip of the iceberg, as there is immense untapped potential waiting to be harnessed beneath the surface.

India has seen substantial investments in hotel construction, with 256 new hotels built in 2022 alone. The hotel industry is projected to reach a remarkable figure of Rs 1210.87 billion by the end of 2023, experiencing a CAGR of 13% from 2018 to 2023.

Despite this significant expansion, the hospitality industry in India faces a significant obstacle – the scarcity of skilled professionals. To overcome this challenge, it is crucial to cultivate a workforce with a balanced blend of technical expertise, soft skills, and cultural sensitivity, ensuring that guests receive exceptional experiences without any hindrances.

To address the shortage of skilled staff, educational institutions within India must take a proactive approach. The primary objective of educators should be to raise awareness among the general population about the vast potential of the hospitality and tourism industry. Indian society needs to recognize the unprecedented opportunities this sector has to offer. 

Taking a multi-dimensional approach is essential to