The country8217;s travel and tourism sector is likely to hire over 40 lakh people as the industry may attract capital investments worth USD 94.5 billion by 2019,says a study.
According to a joint study by Assocham and Yes Bank at present the industry employs less than four lakh people. In 2008-09,it attracted capital investments of USD 5.3 billion.
The sector is expected to grow at more than eight per cent per annum between 2011-19,it said. At present,it is growing at a rate of less than two per cent every year.
It said,the travel and tourism would finally transform not only the urban India,but also rural parts of the country.
8220;Agri tourism will be a special beneficiary of the development of tourism and travel industry. Agri tourism comprises agri museums,agriculture related festivals and fairs,8221; it said.
Besides,the study said,this would provide opportunities to farmers to generate additional revenue.