The hospitality sector was one of the worst and last recovering sectors post-pandemic. It faced many lows in the last two years. Tourists are starting to travel again, but this sector will need more time and support from the government.
These two years pushed back the hospitality sector for 30 years. We expect to get more government support in FY 2023-24, lowering the high goods and services text (GST) rate on hotel rates, as last year the hospitality sector got limited support from the government.
We can expect some more steps taken by the government to increase tourism in India in 2023-24.
