Tourism sector attracts Rs 35,000 cr investment at GIM

Tourism sector has attracted Rs 35,000 crore investment in the ongoing Global Investors Meet in Karnataka.

Written by Agencies | Bangalore | Published: June 8, 2012 4:01 pm

The Karnataka Government on Friday said the tourism sector has attracted Rs 35,000 crore investment in the ongoing Global Investors Meet.

Addressing a session organised as part of GIM 2012,Tourism Department Principle Secretary Latha Krishna Rau said a lot of investors were showing keen interest in investing at Hampi,a UNESCO World Heritage Centre.

“Hyatt Hotels and Resorts is setting up a five-star hotel at Hampi. Orange County,Somateeram and Windflower are setting up resorts around heritage spots like Pattadakal,Aihole,Belur,Bijapur,Jog,Mysore and Anekal,” she said.

Investors also have shown interest in providing tourism related facilities at Pattadakal and Bijapur. The sector has attracted Rs 35,000 crore investment proposals,she said.

Latha said the department was focusing more on promoting tourism in Tier II and III cities to set up facilities for tourists.

“Whatever Expression of Interest or MoUs we have signed is not for just for setting up facilities in Bangalore. We have moved away from the state capital and are promoting tourism in Tier II and Tier III cities for setting up facilities for tourists,” she said.

In addition,land has been offered for tourism projects at various places like Hampi,Pattadakal,Aihole,Belur,Bijapur,Jog,Mysore and Anekal,Latha said.

The department also is offering investors provide water sports facilities on 2,000 acres of water bodies,Latha said.

She said Karnataka ranks fourth among states as a popular tourist destination. Tourist inflow has increased by 236 per cent from 25.2 million in 2005 to 84.6 million in 2011,she added.

As much as 63 per cent increase is anticipated in foreign exchange earnings from USD 104.1 million in 2010 to USD 169.5 million in 2020,Latha said.

Moreover,government is offering many incentives for investors to promote tourism development,Latha said,adding as many as 100 locations have been identified to implement liberalised land policy for tourism projects. Government had also granted 50 per cent and 75 per cent on stamp duty exemption for investments below and above USD 10 million,she said.

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