The travel and tourism industry, one of the first industries that witnessed the immediate effects of the COVID-19 recession this year, is finally reviving. Not only is the country back on the international traveler’s list of favorite holiday destinations, but inbound travel too will witness an upswing in the coming few months. The global tourism and travel industry is one of the most vulnerable industries to external issues ranging from economic downturns to natural disasters and terrorist attacks, it is also one of the most resilient industries. The long-term potential of the Indian travel and tourism industry remains strong, and the short-term outlook is positive.
We recently had a heart-to-heart conversation about the fate of the tourism and hospitality industry in India with the renowned Astro Strategist cum Business Astrologer Hirav Shah and here’s what he had to say. “A global forum for business leaders indicates that the travel and tourism industry employs approximately 250 million people and generates over 12.4% of world GDP. The contribution of this sector to the employment statistics in India is expected to rise from 58,141,000 jobs in 2010 to 69,591,000 jobs by 2020.”
The industry proffers employment opportunities in the public as well as the private sector. Aspirants keen on pursuing options in the public sector can look to work with various state tourism boards or the central tourism department at various levels. Hirav Shah elaborates, “In the public sector, aspirants can work as tourism officers, information assistants, tourist guides and ground staff.”
He further adds that “You need to tailor your services better if you want to have success with your business. The key is to collect data about various people’s travel destinations and analyze it. For example, if you want to know what beverage is most consumed in a bar or restaurant, you just look at the sales papers and you will find out. Afterward, you can use this info and replenish your stocks of that particular beverage more often, in order to keep the customers happy and satisfied. They will come back on a regular basis and you have constant profit.”
“The same thing applies to the travel industry. By knowing what are the hottest and most wanted locations and places that people visit, you can make some arrangements and provide more convenient services for your clients. They will choose your travel company more often and your business grows rapidly.”
Past record tells us that the market size of the global hotel industry was just over 570 billion U.S. dollars in 2017. The hotel company contributing the highest sum to the market size was Marriott International, accounting for a total of 22.3 billion U.S. dollars in revenue. He states that the stars are seen the brightest on the darkest of nights.
He says “Furthermore, you are not alone in this endeavor. There are some professional firms that can help greatly when it comes to travel industry research. They can provide you with accurate and informative details regarding the traveling preferences of various customers. In addition, you also need to know the preferences of people from various countries and regions. You will be able to create more attractive services that can catch the attention of more customers.”
“Make sure that you let those companies help you in this regard and you will see your profits grow almost instantly. It is not rocket science, it is just the ability to sell the right products and services to the clients that really are in a search for them. For example, you wouldn’t want to sell sports equipment and devices to people that are not interested in those things.”
“Perhaps now you are wondering where to find those companies. Well, the internet is very helpful in this regard and you can find plenty of information there. Just make sure that you do lengthy research and you pick the right company. This step is important because you definitely want an experienced and professional company to work with you when it comes to travel industry research.”
Hirav Shah, who is working with World’s leading hotelier, Tourism and hospitality owners, Theme Park Owners, Restaurants owners, etc from USA, Europe, England, UAE, India, etc., for their existing and new projects to increase certainty and to make strategies, concludes by saying that India believes in the concept of “Atithi Devo Bhava” and now this concept needs to translate into reality and become one of our most important engines of economic growth. A time-bound plan to double tourist arrivals by the year 2022 needs to be drawn up.