Tag Archives: incentives

From July 1, companies providing incentives such as foreign trips, cars, gold coins or gift items exceeding 220,000 to their dealers and distributors, will need to deduct tax at the rate of 10 per cent. This comes after a new Section was added in the Finance Act. 2022.

According to a report by ResearchAndMarkets.com titled ‘India Outbound Meetings, Incentives, Conferences and Exhibitions (M!CE) Tourism to Gulf Cooperation Council (GCC) Countries – Market Trends and Opportunities to 2025’ released in December 2019, UAE is the top destination for Indian MICE tourists. Saudi Arabia and Bahrain accounted for more than 15 per cent of the share of the total outbound MICE spending by Indians in 2018. The India outbound MICE market to the Gulf Cooperation Council (GCC) countries is set to surpass US$ 5 Billion by 2025. The report uses a country-focused analysis to explore India outbound MICE tourism market to GCC countries. The report includes historical data from 2014-2018 and forecasts until 2025. It covers six GCC nations: Saudi Arabia, United Arab Emirates (UAE), Kuwait, Qatar, Oman, and Bahrain.

Hilton has unveiled an exclusive  programme ‘Namaste’ for its Indian groups designed to deliver a tailored experience for those travelling from India to Europe. The programme caters to three major segments—destination weddings, meetings and incentives, and film shoots giving guests the confidence that Hilton will meet all their needs and expectations every time, no matter the occasion or destination. Fiona Robson, Senior Director— Sales Operations Europe, Hilton, said, “Huge population, rising incomes and improving infrastructure, among others offer a strong growth opportunity. India is one of the biggest growth markets, with Indians now preferring luxury and overseas stays with their improving financial status. Exceptional quality, impeccable service and always the warmest of welcomes, no one knows hospitality like Hilton. We pride ourselves in understanding the needs of our Indian guests and ensuring that we deliver a truly memorable stay; this precisely is the thinking behind ‘Namaste’, our uniquely designed programme for group travel.”

Reacting to the Budget, Jayant Nadkarni, President, Business Aircraft Operators Association, said, Developing new airports is always good. But we already have many airports without much connectivity. For operations to commence, we need clarity on funding, taxation, duties, and incentives. These are yet to come together for the small aircraft sector in business aviation and in scheduled commuter flights to remote areas. The potential for growth clearly exists.