The whole idea of TOURISM FINANCE seems so tempting. lets see how does the authorities implement & carry forward such an interesting initiative ….. 🙂
This is a Government initiative with stakes from IFCI, SBI, and various other banks in 1989 to help develop tourism infrastructure in the country. The main business of Tourism Finance is to fund projects related to tourism such as building hotels, parks, ropeways, restaurants, conventional halls, culture centers, safari parks, water parks and many more tourism related infrastructure, projects, and services. There is no segmentation, however, in income statement but as per some information, Hotel development forms the major part of Tourism Finance’s business.
Tourism industry is largest service industry in India. As an estimate, tourism industry accounts for almost 6-7 percent of India’s GDP ands employ a whopping 8% of Indian workforce. Tourism Industry will keep growing as Government seems to have been focusing on infrastructure in the current five year plan. We have heard quite often our PM and FM quoting the elusive $1 trillion to be spent in next 5 years on infrastructure.
Numbers, at the end of the day, cut through all the debates and discussions and present you with the real picture (though interpreting numbers requires another skill).
Let’s look at the numbers:
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