It is a very well known fact that aviation sector not only brings immense benefits to communities and economies around the globe.
In the past decade, air travel has grown by 7% per year. Travel for both business and leisure purposes grew strongly worldwide. Scheduled airlines carried 1.5 billion passengers last year. In the leisure market, the availability of large aircraft such as the Boeing 747 made it convenient and affordable for people to travel further to new and exotic destinations. By 2034, India is expected to be among the top five air domestic travel markets globally, in terms of additional passengers per year, according to the International Air Transport Association (IATA).
The hospitality industry is much broader than most other industries. The majority of business niches are composed of
only a handful of different businesses, but this industry applies to nearly any company that is focused on customer satisfaction and meeting leisurely needs rather than basic ones. The tourism and hospitality sector in India is highly optimistic with a large number of hotel chains having lied up their expansion plans. India's travel and tourism industry has huge growth potential. The medical tourism market in India is projected to hit US$ 3.9 billion mark this year having grown at a compounded annual growth rate (CAGR) of 27 per cent over the last three years, according to a joint report by FICCI and KPMG.
The Indian retail industry is one of the most vibrant industries in the country. India remains an appealing, long-term retail
destination for several reasons starting with its demography – half of India's population is less than 30 years of age and roughly one-third of the population lives in cities. The disposable income of Indians is increasing - allowing them to spend more and try new products, brands, and categories. India's retail market is likely to touch a whopping Rs 47 trillion (US$ 738.71 billion) by 2016-17, expanding at a compounded annual growth rate of 15 per cent, a Yes Bank-Assocham study says.
The retail market, which comprises both organised and unorganised segments, stood at Rs. 23 lakh crore in 2011-12.