The creation of niche products

By Archana Capoor
CMD, Tourism Finance Corporation of India

In today's scenario, economic growth and high disposable incomes impact tourism tremendously. This factor is being used by the tourism industry to drive its growth. With the different travel options available and active participation of states like Madhya Pradesh and Chhattisgarh and the introduction of unique tourism products to the forefront, the dynamics have begun to change. Readymade packages are being made available to the ever-so-ready travel enthusiasts.

The domestic travel is witnessing a major boom. People are awakening to the opportunities that tourism is providing them. Be it the states, travel agents or the net portals, all are benefiting. And at this time the average budget traveller is benefitting the most. All segments want to be visible in the picture that shows tourism as a great product. As a service industry, it is tourism alone that does not demand high initial investment to start a project, therefore inviting more and more people to benefit from growth. At this juncture while waiting for the cruise policy to be finalised we are going to extend help to projects on those lines.

It is necessary to realise that the exit and entry points of the country have to be made up to the mark. Looking at many new projects, smaller hotels, home-stays need to be focused on with formation responsible groups. TFCI would also support the special tourism zones (STZ) which could be a dedicated tourist complex having local industries just outside the cities so that even the passers-by can get a taste of the city with all tourist information made available to them. Even hotel facilitation could be an option here. Thus the states really need to upgrade their infrastructure; Haryana already has numerous such resorts on the highway that could easily be converted to such projects with local funding.