Foreign tourist spends go up in India
This is a great time for the hospitality industry. The foreign tourist is spending more in India as compared to the previous year. According to government data, in September, foreign tourist arrivals dipped by 4.1 % to 3.17 lakh but average spending has increased by 28.8% to Rs1,19,810. The total foreign exchange revenue earned was Rs3,798 crore. The dollar exchange rate has contributed around 5% to this growth and the remaining 24% growth has come from increased expenses in longer term stay in hotels and travelling spends. The government has declared the current year as “Visit India Year”.
Dhruv Rathi [email protected]
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