India Plans Growth for Sustainable Tourism – Exceeding $150 Million by 2032

India’s sustainable tourism market, valued at $26.01 million in 2022, is projected to soar to $151.88 million by 2032, with a compound annual growth rate (CAGR) of 19.3%, according to a joint report by The Federation of Hotel and Restaurant Associations of India (FHRAI), KPMG, and the PHD Chamber of Commerce and Industry (PHDCCI). This expansion not only promises economic growth but also carries the potential to bolster the services sector and ensure long-term development.

The tourism sector’s contribution to India’s carbon footprint underscores the urgent need for responsible tourism practices. As the industry is anticipated to generate revenue exceeding $59 billion by 2028, there’s a critical imperative to adopt sustainable measures promptly. The shift towards eco-friendly practices, such as harnessing renewable energy sources like solar, wind, and geothermal energy by hotels and resorts, is gaining momentum. This can potentially affect serviced apartments in Chennai, including but not limited to brands like the Citadines OMR Chennai.