...
All News States

Uttarakhand aims Rs. 20,000 crore+ investment in tourism

  • November 14, 2023
  • 2 min read
Uttarakhand aims Rs. 20,000 crore+ investment in tourism

Offers 100 PPP projects by 2030

Realising that tourism could be a major contributor to state’s GDP, the Govt. of Uttarakhand is focussed on creation of tourism circuits and destinations along with supporting infrastructure by inviting private sector investments in hospitality and tourism projects. The government has identified 40+ locations for new and innovative tourism product development with private participation.

The State Tourism Department has earmarked 200+ acres of land bank for development of tourism. The Department has decided to offer as many as 13 greenfield luxury hospitality project worth Rs. 2,900 crore to private players. Also on the offer is the upgradation and O&M of state’s 11 guesthouses at the cost of Rs. 320 crore.

To attract the investment, Uttarakhand is offering up to 25% capital subsidy in form of allotment of land from Government Land Bank or Capital subsidy of up to 25% of CAPEX in case of privately acquired land.

The state has launched Tourism Policy, 2023 to support growth of the sector.

• Up to 50% capital subsidy fo hospitality projects

• Up to 100% capital subsidy for tourism products and services

• Incentives for marketing an promotion

• Incentives for training and skilling

• Heli transport and stamp duty incentives

• First of its kind policy ‐ Providing incentives to existing units and Incentives for premium hospitality, MICE, foreign tourist attraction etc.

According to the Policy 2023, tourism to contribute US$ 10 billion to Uttarakhand’s economy annually and at least 15% of the State’s GSDP. The idea is to increase average length of stay of tourist in Uttarakhand to 4-5 days as well as to increase foreign tourist visits as a proportion of total non-religious tourist visit in Uttarakhand to 5%.

About Author

TH Bureau

Leave a Reply

Seraphinite AcceleratorOptimized by Seraphinite Accelerator
Turns on site high speed to be attractive for people and search engines.