Are you confused about where to invest? So, here is the golden opportunity for all the investors. If you are looking to invest in something then, go for Jammu and Kashmir’s tourism sector. There is a lots of investors in tourism and growth rate is also too high. So simply in this post we will going to discuss about Golden opportunity for investors in tourism sector in J&k and U.T Ladakh after removal of article 370.
After the abolishment of article 370, many trades and business opportunities have opened up in Jammu and Kashmir and Ladakh. This is going to increase the investment opportunities in tourism, trade, real estate, handicraft, and horticulture in the region.
There is no denial of the fact that Jammu and Kashmir and Ladakh have a lot of potentials to emerge as a hub for the tourism sector. This region has a wide range of natural resources and local businesses which will help them to create new jobs and development.
Tourism has a hype in the Kashmir industry and approximately 60% of people can directly or indirectly engage themselves in the tourism sector. This contributes to around 15% of the state’s GDP.
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Kashmir was quite popular from 1950 to 1990 when the movies promoted destinations like Gulmarg, Patni, Srinagar, and Pahalgam. But in recent years it has witnessed a lot of terror activities which reduced tourism in the valley. In 2018 tourism dropped in the region and many other activities have come to halt.
This is one of the reasons that resulted in the Central government abolishing article 370.
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SAFETY AND SECURITY IN J&k
With the intervention of the Central government, it becomes quite easy to build confidence among the common people. If the central government comes in direct contact, the role and influence of local government and outside reduce. This very important to insecure the insecurity of the tourists.
THE PRESENT SCENARIO
The present situation in Jammu and Kashmir is pretty unclear but the tourism sector highly depends on the cooperation between UT elected government and Central government. Although it is stated clearly that the tourism and hospitality sector falls under UT elected government. Tourism will soon be flourishing in Jammu and Kashmir but to get into complete pace it will take some time.
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Most of the investors have shown positive responses and interest in investing in the tourism sector. Apart from that investors are eager to invest in private and public educational institutions, road constructions, and many other sectors.
Growth in tourism will increase the number of hotels and restaurants. Along with it, there is a scope of BnB and homestays in Jammu and Kashmir as well.
TOURISM SCOPE IN LADAKH AND INVESTORS IN TOURISM
Ladakh has a great potential to be a tourist spot but at the same time, there are other factors affecting tourism in the area. Homestays are one of the best options available for cultural exchange. Although the lack of telecom, road connectivity, livelihood, market opportunities, and the India- China- Pakistan border makes it quite challenging.
It completely depends on the Centre and UT authorities how they develop tourism in the region. It can either build its own tourism policies like Andaman and Nicobar Island or can go for different policies to attract the tourism sector.
Hope this article might have helped you out in some way or the other. So, take your time, do proper research, and decide where you want to invest. Keep in mind that Jammu and Kashmir have all the potential to be the major tourist attraction in India.
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