$11.41 bn to flow into hospitality sector in 2 years: Study
The Indian hospitality sector, in next two years, would see an estimated $11.41 bn and 40 international brands will be present here by 2011. Paradise in ocean | Day in Pics
By PTI |
MUMBAI: The Indian hospitality sector presents a rosy picture for the immediate future as the sector in next two years would see an estimated $11.41 billion and 40 international brands will be present here by 2011, says a leading consulting agency.
Besides, the "Employment outlook is positive for the coming year", says a press release by MaFoi. The sector, which witnessed a growth of 9 per cent, according to MaFoi, is likely to witness a hike of 14.2 per cent in average salary this year. The segment would attract more youngsters than any other sector, the study said.
This sector also saw a constant growth of employment between 2001-02 and 2004-05. Thereafter, it declined by 0.7 per cent in 2005-06. The revival followed in 2006-07.
"The boom in the tourism industry has had a cascading effect on the hospitality sector, which was a result of the increase in the occupancy ratios and average room rates.
Besides, the "Employment outlook is positive for the coming year", says a press release by MaFoi. The sector, which witnessed a growth of 9 per cent, according to MaFoi, is likely to witness a hike of 14.2 per cent in average salary this year. The segment would attract more youngsters than any other sector, the study said.
This sector also saw a constant growth of employment between 2001-02 and 2004-05. Thereafter, it declined by 0.7 per cent in 2005-06. The revival followed in 2006-07.
"The boom in the tourism industry has had a cascading effect on the hospitality sector, which was a result of the increase in the occupancy ratios and average room rates.
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"While occupancy ratio is around 75-80 per cent, the average increase in room rates hovered around 22-25 per cent (July-September 2007)," the study revealed.
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