Mumbai, India’s economic capital, is also renowned for its cinematographic industry Bollywood. State of the Reserve Bank, National Stock Exchange and Bombay stock exchange, it is India’s financial main city and highly valued place for finance since the Suez canal opening. India’s economic growth and the constant increase in its population, +2% per year, show the country’s potential. Above 1 billion, India is due to become the world’s most populous country by 2050. Facing such perspective, Mumbai, as a great marker of the country’s metamorphosis, is becoming an unavoidable place for the hospitality industry.
Bombay has been renamed to its Marâthi name Mumbai in 1996. Capital state of Maharashtra, Mumbai is India biggest city. Its population reached 18 million citizens and is expected to host 30 million by 2020. Mumbai is the place to be for culture via its movie industry outgrowing Hollywood’s production. Tourists attractions are endless. The famous Gateway of India, built in 1911 to welcome the arrival of King George V and Queen Marry, is on every tourist’s picture as well as religious sites and natural wonders are some amongst many attractions that the city has to offer.Luxury to economic segments, Mumbai ‘s hotel offer is developing. Maintaining high occupancy rate and great RevPar in the region seem to be the trend for the year to come as international interests is maintained by both leisure and business segments. Furthermore, the large increase in domestic travellers as well as the emergency of a visible middle-class is due to impose itself and become a strategic target in the hospitality industry. Thanks to the economic growth, government incentives to liberalise the market has facilitated foreign investment and infrastructures improvement : metro and airport construction. Low-cost companies is a step further towards market diversification and the development of economic and budget hotels. However, in India and Mumbai more particularly, inflation rate, building cost and overpopulation are the main difficulties that the city will have to overcome.The ‘Incredible India’ campaign from the Ministry of Tourism has largely contributed to the growing flow of international visitors in the region. Last year, it’s more than 4 million international travellers on the Indian soil, that is a 12% increase compared to 2005. According to the World Travel and Tourism Council (WTTC) India’s travel and tourism activity is forecasted to grow by 8% each year until 2016. International travellers coming...
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