HOSPITALITY INDUSTRY PROVIDING 6 MILLION NEW JOBS OPENINGS ACROSS 185 countries every year
INDIA’S POPULATION of 1.3 billion presents a massive potential for the hospitality industry. In 2019, India was the fastest growing economy among the BRICS countries.
That year, India’s travel and tourism sector contributed INR 8, 309.4 billion, amounting to 6.3% of the country’s GDP. This is forecast to rise to INR8, 913.6 billion in 2016, and reach INR18,362.2 billion (7.2% of total GDP) in a decade’s time.
The Indian hospitality industry has experienced prominent growth in recent years due to various factors, including the rising purchasing power of domestic travelers, an increase in commercial development and foreign tourist arrivals, a growing airline industry and government-led initiatives aiming to stimulate the sector.
There is a great deal of scope to expand tourism across India, and as the country improves air travel connections and relaxes visa restrictions, tourist arrivals should increase. With 1 in every 10 jobs worldwide relating to hospitality and tourism, there’s no shortage of opportunities out there for today’s graduates.
And, with an approximate 6 million new job openings across 185 countries being added every year, students of hospitality will find that the world is their oyster.
Not only can they work in hotel operations like their counterparts, they’ve got the freedom to work in hospitality management (HR, finance, marketing, real estate, PR), venue management and event planning, luxury retail and sales, luxury lifestyle services, fine dining and restaurants, health and wellbeing, private clinics, hospitals, consultancy, start-ups and more.
We often plan events locally, but the hospitality industry needs to start thinking internationally. International hotel chains are increasing their presence in the country, and it will account for around 47 per cent share in the tourism and hospitality sector of India by 2020 and 50 per cent by 2022.
THE PROOF IS IN THE PUDDING
Global hotel studies say the industry is expected to see a significant increase in the market need for up-and-coming tourism destinations that previous generations of travelers hadn’t even .
Economists say businesses (in any industry) just can’t afford to ignore the effects of globalization — and that having both localized management teams and a centralized oversight hub will likely be the key to sustaining rapid international expansion in the coming years.
