Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) has proposed to the Governor of the Reserve Bank of India, to include tourism in the Priority Sector Lending (PSL) framework. It stated, “Such inclusion will ensure affordable credit, pave the way for sustainable development, and will catalyse investments, create jobs.”
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Appreciating the response on investment and subsidies offered in Uttar Pradesh Tourism Policy 2022, Mukesh Kumar Meshram, Principal Secretary, UP Tourism, said, “We have received a tremendous response following the implementation of our new policies. The Global Investors Summit attracted over ₹1 lakh crore in investment in the tourism sector.”
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WTTC forecasts 11.5% growth in tourism investment in 2023, amounting to $955 billion. By 2033, WTTC forecasts a promising 6.1% average annual growth globally, with the strongest annualised growth rates projected to be in Asia-Pacific and the Caribbean.
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