The Cyberabad Times

Tourism, aviation fast gathering altitude

The tourism and civil aviation industries are expected to fare well in 2005. While a total of 3.36 million foreign tourists travelled to India in the last calendar year, domestic air traffic grew by 24.7 per cent and international traffic saw a growth of 18 per cent during the same period. The airports also underwent a massive modernisation and restructuring programme. Tourism has become the world’s largest export industry, generating huge employment opportunities, particularly in the remote and backward areas. It is estimated that tourism accounts for 13 per cent of the total world exports and 8.2 per cent of the global employment. Both Mumbai and Delhi airports are undergoing a major restructuring programme. ABN-Amro Asia Corporate Finance and Air Plan Australia have been appointed as financial consultant and global technical adviser, respectively. In addition, two new greenfield airports with private sector participation are proposed at Bangalore and Hyderabad. In these, private partners will hold a 74 per cent stake, while state governments and the Airport Authority of India (AAI) will together hold the balance 26 per cent. The state governments of Andhra Pradesh and Karnataka have selected the private sector partners for the two southern airports. On the other hand, the growth of the tourism industry has significant linkages with several other sectors like agriculture, horticulture, poultry, handicraft and construction. According to the ministry of tourism, the industry registered a growth of 17.3 per cent in foreign tourist arrivals in 2003-04 compared with 1 per cent growth in 2002-03.

Tourism, aviation fast gathering altitude

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