Union Budget Wish-List Includes Visa-Waivers and Tax Breaks: India Report
Photo Credit: India's travel industry wants the government to spend on marketing to position the country as a go-to destination. Pexels / Imad Clicks
Skift Take
Many of the demands from the travel industry echo sentiments from previous years. Will 2024 finally be the year the government takes action and makes changes that match the industry's evolving needs?
In the fiscal year 2023-24 budget, the Indian government showed its recognition of the immense potential of the travel and tourism sector by allocating INR 24 billion ($290 million).
The tourism sector is expected to contribute approximately 7% to India's economy, reaching INR 37 trillion ($450 billion) and employing 58 million individuals by 2033, according to the World Travel and Tourism Council (WTTC).
The interim Union Budget for 2024-25 is scheduled for February 1. Here's what the tourism industry is watching for:
The Visa Power: A key demand on the wishlist is the implementation of visa-free arrival for travelers from India's top source markets. Drawing inspiration from Asian neighbors like Malaysia, Thailand, and Sri Lanka, which already offer visa-free entry to Indian tourists, this measure is seen as a way to boost foreign tourist arrivals.
MakeMyTrip's Co-Founder and Group CEO, Rajesh Magow, emphasized that this step would not onl
