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5 special tourism zones to come up
Union Finance Minister Arun Jaitley on Wednesday announced that the government would establish five special tourism zones in the next financial year.
New Delhi: Union Finance Minister Arun Jaitley on Wednesday announced that the government would establish five special tourism zones in the next financial year.
While presenting the Union Budget 2017-18 in the Lok Sabha, Jaitley said: “tourism is a big employment generator and has a multiplier impact on the economy. Five special tourism zones anchored on SPV (Special purpose vehicle) will be set up in partnership with the states. The Incredible India's second campaign will be launched across the world.”
The tourism and hospitality sector is one of the top 10 sectors that attract foreign direct investment (FDI). During the period April 2000-March 2016, the hotel and tourism sector attracted around $ 9.23 billion of FDI, according to the data released by Department of Industrial Policy and Promotion (DIPP). India has moved up 13 positions to 52nd rank from 65th in Tourism & Travel competitive index.
