Innovation and Creativity are the keys for the survival of any business. Hospitality Industry is no exception. The Indian hospitality industry is witnessing a major shift wherein apart from traditional business or leisure travel, India's hospitality sector has been witnessing interest from various segments like meetings, incentives, conferences and exhibitions (MICE), eco tourism, wellness tourism, spiritual and pilgrimage tourism.
This upcoming demand in new segments comes from both foreign as well as domestic tourists. In order to match up to this varied and rising demand of the tourists the hospitality industry is also looking at creating relevant products to service the varied tourist requirements. The Indian government has taken up various reforms to bring the pace in the industry growth with liberalisation in the regulatory framework, investment friendly schemes, extensive support for creating a world class infrastructure, initiating better air and land connectivity, incentivising regional set-up in tier III and IV cities, exploring the untapped geographical resources which has led to a comprehensive growth of the Indian hospitality industry.
This research paper focuses on these upcoming trends in the hospitality industry in India which have transformed the scenario of the industry altogether. It also attempts to study the impact of these trends on the hospitality industry and the Indian economy at large.
Innovation, Hospitality industry, Competitiveness
