Maharashtra Tops in Attracting Investments

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Maharashtra has emerged as the top state in terms of attracting investments in the hotels and tourism industry across India.

According to latest study by ASSOCHAM, Maharashtra has attracted investments worth over Rs. 15,500 crore of the total outstanding investments worth over Rs. 93,400 crore attracted by the hotels and tourism industry in India as of June 2016.

Gujarat (14.5 per cent), Karnataka (12 per cent approx.), Tamil Nadu (10 per cent approx.) and West Bengal (nine per cent approx.) also figure among top five states in this regard.

Tamil Nadu leads in attracting maximum domestic tourists with a share of over 23 per cent in the total (143 crore) domestic tourist visits in 2015 followed by Uttar Pradesh (14 per cent), Andhra Pradesh (8.5 per cent), Karnataka (8.4 per cent), Maharashtra (7.2 per cent), Telangana (6.6 per cent), Madhya Pradesh (5.4 per cent), West Bengal (4.9 per cent), Gujarat (2.5 per cent) and Rajasthan (2.5 per cent), that are amid top 10 states in this regard.

While West Bengal has recorded highest year-on-year (2014-2015) growth rate of over 43 per cent in number of domestic tourist visits followed by Telangana (30.5 per cent), Andhra Pradesh (30.3 per cent), Madhya Pradesh (22.6 per cent) and Gujarat (17.4 per cent).

The number of domestic tourists has increased from about 67 million in 1991 to 1,432 million in 2015, whereas the number of foreign tourists visiting India has increased from about three million to 23 million during the same period.

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