The country’s hotel and tourism sector has witnessed a sudden spurt in foreign direct investment (FDI) during the last financial year, reflecting increased interest in the country’s hospitality industry.
According to the data of the Department of Industrial Policy and Promotion (DIPP), the sector has attracted FDI worth $3.21 billion during April-February 2012-13.
DIPP is an arm under the Commerce and Industry Ministry which deals with matters related to FDI.
The FDI flow in the sector in the last fiscal is significantly higher compared with the flow of $3.37 billion which the country received during the last 12 years ending March, 2012.
The foreign inflows in the hotel and tourism sector did not figure in the DIPP’s list of the top 10 recipients of FDI prior to September 2012.