Page 3 - TBM_February_2024

Budget Special
R.N.I. No. MAHENG/2007/22231 Reg. No. MCS/180/2019-21

VOL 17 | ISSUE 9 | PAGES 28 FEBRUARY, 2024 PRICE: 40 www.travelbizmonitor.com 3
FM drastically cuts down overseas promotion

budget while increasing outlay for tourism

TBM STaff | MuMBai only to rise somewhat in FY24 to INR 100 crore.
It spent INR 89 crore during 2021-22 from its
or FY25, the Finance Minister has increased allocated INR 524 crore.
Fallocation for the tourism sector to INR More than two thirds of the FY25 allocation,
2,449.62 crore in the Interim Budget, recording has been kept aside for its Swadesh Darshan
a rise of 44.7 per cent, over the revised figure of scheme. This scheme, set up in 2014-15,
INR 1,692.10 crore for the current fiscal. However, provides financial assistance to state
a meagre sum of INR 3 crore has been set aside governments to develop tourism infrastructure.
for overseas promotion of India for its ‘Incredible Last year, the Budget slashed overseas Alongside, the Prashad Darshan scheme has
India’ campaign, shrinking the allocation by 97% tourism promotion expenditure by a staggering been allocated a similar amount as last year, at
from last year’s INR 100 crore. amount, having spent just INR 15.89 crore, INR 240 crore.

India recovers to pre-Covid level of visitations

for New York City

DiSha Shah GhoSh | MuMBai the forecast is to close 2024
with 383,000 visitors.
ith 336,000 Indians visiting New York Elaborating further she
WCity in 2023, the country has reached said, Indian visitors spent
pre-Covid levels of arrivals for the key gateway USD 569 million in NYC
city in the USA. During the Mumbai leg of their during 2022, and the
three-city India Sales Mission, Makiko Matsuda per-person per trip spend to Makiko Matsuda
Healy, Senior Vice President, Tourism Market NYC is USD 2,200. “During
Development, NYC Tourism + Conventions 2023, 68% Indians visited for
spoke to TravelBiz Monitor about the leisure (including 35% VFR),
“extremely important source market of India, and and 32% for business. While
the long-staying Indian visitors”. NYC is the number one port of
Healy said, “India is the fifth largest entry for Indians via Air India Surat, direct traffic coming into the US, make it
economy, and Indian visitors are long staying and United, Indians have options for one-stop more relevant for us.”
guests with an average length of stay of 11 days flights via Middle East and Europe.” The NYC Travel Trade Academy, an online
in NYC, which is an increase. Pre-Covid Indians She said with Mumbai and Delhi being training programme, has been re-launched,
spent less than 10 days in NYC. Currently, India primary markets, the travel trade in Ahmedabad and Healy is expecting good traction from the
is the second largest source market for NYC is also well versed with knowledge about NYC Indian market as well. With improvement in
Tourism + Conventions, and 12th, globally. It because of a lot of VFR traffic moves to the US visa processing time and better air access, she
has recovered to pre-Covid level of recovery with from Gujarat. “This time, I visited Ahmedabad is hopeful of consistent growth from the Indian
336,000 Indian visiting NYC in 2023.” During for the second time after 2019, and with the market going forward.
2022, NYC recorded 258,000 Indian visitors, and international airport of Ahmedabad and now disha.shah@saffronsynergies.in

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