World Cup & G20 to boost international demand

Friday, July 28, 2023

Indian Hotels Company helped by the TATA Group is hoping for a powerful demand to continue because of the impending mega events like the World Cup Cricket along with G20 meetings which are anticipated to increase international tourist flow in India.

The Managing Director & CEO, IHCL, Puneet Chhatwal, said that taking into consideration the demand surpassing supply there are additional factors to boost demand like the World Cup, G20, and there are expectations of foreign tourist inflow will start attaining the levels that existed during pre- Covid times as the level has been quite at the back as of October and November 2022. Therefore, occupancy rate should be steady and rates should reach even further. India is fast turning into a 365-day destination as an alternative of being an October to March destination.

He also mentioned that these major events are improving India’s positioning as a tourism hub. These crowd-pulling events should aid in marketing the country as a destination to explore in the coming days.

Hotels in Q1 FY24 recorded occupancy of 74 percent which is hoped to carry on in the forthcoming months.

It was expected that in India, international tourist arrivals will see a revival of 80-90 percent in 2023 of pre-Covid level.

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