Why is Goa a Favorite Destination for Opening Resorts, Hotels, and Service Apartments?

Indian tourism is recovering fast, with hotel occupancy, average revenue, and tourist volumes reaching pre-pandemic levels. The average occupancy in India reached 50.3% in FY 22, significantly jumping in comparison to FY 21. Likewise, REV PAR trends are also spiraling upwards.  This further underlines the bullishness of the Indian tourism and hospitality sector. 

One of the major components that are driving the new wave of tourism in India is the emergence of the millennials category. The Indian millennial which constitutes close to 50% of the workforce and around 70% of the household income is playing an instrumental role in the recovery of the tourism industry.

While long-haul tourism are growing fast, there is also an increased appetite for short-haul tours and weekend gateways, which is also fueling growth in the sector. Another factor that is noteworthy is the upswing in workcations, remote working, digital nomadism, flexible or hybrid workforces, etc. This is driving demand for long leases in resorts, service apartments, homestays, rental villas, etc.  

Goa continues to be India’s leading Tourist destination

Goa though the smallest state in India,  is also one of the most sought-after tourist destinations in the country. Its glorious beaches and a chill life are all we need to rejuvenate and refresh sometimes. Goa is acclaimed for its extensive coastlines and beaches, popular mangrove forests and coves, spellbinding cultural heritages & baroque churches, green-capped hills, and much more. 

It is not just a sought-after hub for leisure and fun activities, but also fast emerging as wellness tourism, business & MICE travel, and weekend gateway destination. 

Yearly, hundreds of thousands of tourists from across India and the globe visit the famous destination and create memories for a lifetime. 

Discussed below are some of the key insights related to tourism in Goa. 

Tourism Statistics- The tourist statistics of Goa speak a lot about how great this place is and how much profit a business here would be. Known for its freestyle, boho culture- Goa is perfect for a slew of touristic activities- from honeymoon to retirement travel to college trips to business meetings, and much more. Covid did impact the state, but thankfully, it made Goa a Covid-free state even during the most vulnerable time. The markets are now reviving fast marked by a surge in tourist statistics.  Talking about tourism stats of the state, in 2022 8.1 million domestic tourists visited Goa, while international tourism inflow was pegged at 1.1 million. 

Its Popularity as a Tourist Destination- Goan beaches, their lifestyle, crowd, and fun-filled water activities are not just popular amongst Indian tourists but also worldwide. The state located on the western coast is a party to a large number of international tourists from Russia, the UK, Central Asia, etc.  Goa is touted as one of the best places for people of any age group to visit at least once and enjoy the best time of their life. Goa never disappoints anyone, no matter what age group, they are. Its status as the most sought-after tourist destination stays intact. 

Future Growth of Goa Tourism Sector with a Digital lense- The future of Goa as a tourist destination is quite bright, especially after tons of influencers, vloggers, and lifestyle experts are coming into existence. In the age of social media, people with such innovative professions aid in giving the inside view, review, and experience via their vlogging or review writing skills. This can help your resort, hotel, or homestay get the due recognition it needs, followed by getting a whole lot of business. The youths especially like to explore new and cool places to stay to share their experiences via Insta stories, YouTube Vlogs, etc. This culture has increased the race of presenting the audience with the best and new information and to gather which the youth don’t even bother to spend a little more amount on their stay experiences. 

All this sums up that Goa not only attracts tourists from across the globe, but it also attracts a lot of business throughout the year. It is fertile ground to start a new hotel or resort business. In the coming future, Goa will see increased investments in the following segment 

• Regular 4-star & 5-star hotels, resorts, etc.
• Budget hotels, 1- & 2-star hotels and lodges
• Wellness hotels, naturopathy resorts, Ayurveda centers & hotels
• Spiritual and Yoga centers, healing cottages, etc.
• Rental villas and serviced apartments. 

For any business query, feasibility study, or market study in Goa or any other tourism market in India, feel free to drop us a mail at info@theindiawatch.com.