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IITM Kochi 2024, a prominent travel showcase in South India, brings industry leaders and enthusiasts to explore diverse tourism offerings, marking a significant event in India’s growing travel and tourism sector.
Kochi- The renowned India International Travel Mart (IITM) geared up to unveil its first showcase, kicking off the year’s travel festivities in the vibrant city of Kochi, South India. From January 19th to 21st, this eagerly awaited event promised to be a hub of activity, attracting travel enthusiasts and featuring active participation from states such as Delhi, Meghalaya, Chhattisgarh, and Jharkhand.
Kochi IITM 2024, a not-to-be-missed event showcasing the wealth of trade and tourism in the country, commenced at Rajiv Gandhi Indoor Stadium. The festivities kicked off on Friday and suggest not to miss the chance to explore the diverse offerings until the final day on Sunday. IITM Kochi brought together industry leaders, seasoned travel agents, and eager wanderers, embarking on new and thrilling journeys.
The event was inaugurated by Ms Mariyamma Jose, Chairperson of TAAI, Mr Paulose K Mathre, Chairman, TAFI, Ms Nirmala Lily, President, SKAL Cochin, Mr Rajkumar K, CEO, Kerala Travel Mart Society, Mr Nasir Shah, Chairman, IATO – J&K Chapter and Mr Abdul Nasir, President, Tour Operators ASSC of India.
While speaking about the event, Mr. Rohit Hangal, Director of Sphere Travel Media, “As we launched IITM Kochi 2024, we envisioned it as a nexus for unparalleled exploration and innovation in the travel industry. This showcase not only promises a vibrant convergence of cultures but also sets the stage for transformative journeys and business opportunities.”
Sanjay Hakhu, Director of Sphere Travel Media, added “Kochi IITM 2024 is more than an event; it’s a celebration of India’s rich trade and tourism tapestry. With a dynamic lineup and diverse offerings, it beckons industry leaders, travel agents, and enthusiasts to embark on a journey of discovery, making it an unmissable experience for all.”
Tourism Report: A Glance at 2023 and a Look Forward to 2024
• Travel Forecast: According to Statista, the travel and tourism market in India is forecasted to reach a whopping $23.72 billion by 2024. Furthermore, the market is projected to experience a substantial annual growth rate of 9.62% from 2024 to 2028, reaching a total of $34.25 billion by the end of 2028. These significant numbers highlight the country’s potential for substantial growth in the travel and tourism sector.
• Promising Growth in the Sector: The Indian tour and travel industry is primed for significant expansion, with experts predicting a robust growth rate of 12-14% in the current and upcoming fiscal years. This expected growth is driven by consistently high airfares and the steady return of pre-Covid travel volumes across various segments, as stated in a report by Crisil.
• Sustainable Tourism Trends: In 2024, the tourism industry is predicted to witness a significant shift towards sustainability. With a growing awareness of environmental impact, it is expected that reducing carbon footprints, advocating for eco-friendly accommodations, and responsible tourism practices will become the norm.
• Expectation from Union Budget 2024: India, with its rich cultural offerings, grapples with low global visitor numbers. The imperative for Union Budget 2024 is to proactively address this challenge. Key focuses include elevating hotel supply, reducing GST rates, and easing travel sector regulations for a boost. Additionally, the budget should champion sustainable tourism through tax incentives, OTA reforms, and CSR investments in tourist site development.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
