Postponing foreign travel will boost domestic tourism, shore up forex: HAI 
News Updates

Postponing foreign travel will boost domestic tourism, shore up forex: HAI

The Hotel Association of India (HAI) on Tuesday welcomed Prime Minister Narendra Modi's appeal to the citizens to postpone unnecessary foreign travel

PTI

New Delhi: The Hotel Association of India (HAI) on Tuesday welcomed Prime Minister Narendra Modi's appeal to the citizens to postpone unnecessary foreign travel, saying the sentiment will help boost domestic tourism, thus building foreign exchange reserves.

Follow The PSUWatch Channel on WhatsApp

KB Kachru, President, HAI said in the current volatile geopolitical environment, a stronger domestic tourism will contribute towards conserving foreign exchange while building a more resilient and self-reliant travel ecosystem.

"At the same time, there is also the need for the government to encourage and support inbound travel, which will in turn help build foreign exchange reserves for the country," he stated.

According to Kachru, increased domestic travel is expected to boost demand for hotels, resorts, local destinations, and regional tourism experiences across the country.

Follow PSU Watch on LinkedIN

It can further strengthen employment generation by supporting small tourism businesses, and accelerate growth in tier II and tier III destinations.

"India's domestic travel market has emerged as one of the strongest demand engines globally, driving hospitality growth, employment generation and infrastructure utilisation across metros as well as Tier 2 and Tier 3 destinations," the HAI President said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

Rupee falls 11 paise to 96.36 against US dollar in early trade

Bullion capped by inflation concerns despite oil price surge amid West Asia flare-up: Analysts

World is 'extremely turbulent', Jaishankar calls for deeper India-ASEAN cooperation

Markets decline in early trade on higher crude oil prices, selling in bank stocks

PSU banks, NBFCs have deployed Rs 16.92 lakh crore in renewable energy since FY14: MoS Naik