Government Brings Multiple New Policies To Hospitality Sector
the living standard and increasing disposable incomes have continued to support the growth of domestic and outbound tourism. Thus, this would lead to a prosperous year, 2018 for Indian Hospitality sector and Indian Tourism too
Photo Credit : Reuters
I feel that the hospitality sector is consistently growing in India and has seen a dramatic change over the last decade, for example the new government policies on FDI and tourism in 2017. As India offers geographical diversity and has a diverse portfolio of niche tourism products, it attracts tourists from different parts of the world. This leads to a potential change in evolving the sector in terms of service standards, fast service, infrastructure and world class amenities.
The basic driving factor in the hospitality sector, as I foresee it for 2018, is the emerging lifestyle and living standards of people, which is expected to grow three fold by the coming years. Technology has become the key factor in boosting the service and market of hospitality industry and is further going to do it by providing platforms to customers in filtering their requirements, and to hoteliers in analyzing consumer behavior. Various policy measures undertaken by the Ministry of Tourism and tax incentives will further aid the growth of hospitality industry. But most importantly the marketing strategies like following trends, influencing opinion and delivery of brand name will continue to be the deciding factors for major growth.
Pointing towards the government polices of tourism and GST implication in hospitality sector, it has both pros and cons but the tariff release and reduced standardized rates conceptualize a steady growth of the industry because there is still a lack of understanding about the tax slabs for various categories of hotels and restaurants. This is something that can only be tackled with time and with adequate training and guidance provided to the industry players.
We are much aware that India is culturally, the most diverse country in the world. It is a vivid reflection of landscapes, magnificent historical sites and royal cities, colourful people, rich cultures and festivities. It is also a major reason behind the growth of Indian Hospitality business. We have gained reputation for excellence in quality of facilities and services over the past decades. From greeting and welcoming the guests as part of the local culture to showcasing the root values, the cultural differences manifest themselves in different levels of importance.
The factors for the success of a business model are dictated by characteristics of closely related relationship with the customer in the hospitality services industry as well as by main elements, such as value proposition, innovations, technologies, etc. Customer relationship management becomes crucial in many business services as well as in the hospitality sector.
If we talk about India's rising middle class, then it is apparent that the living standard and increasing disposable incomes have continued to support the growth of domestic and outbound tourism. Thus, this would lead to a prosperous year, 2018 for Indian Hospitality sector and Indian Tourism too.
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