Tourism Investor Meet gets Rs 15,116 cr offer

Nov 17, 2023 - 13:43 Updated: Dec 7, 2023 - 14:29
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Tourism Investor Meet gets Rs 15,116 cr offer

THE Kerala government said on Friday that the first-ever Tourism Investors Meet (TIM) organized by it a day ago has significantly boosted the state government's travel and hospitality initiatives in the post-pandemic era.

The event resulted in investment offers amounting to Rs 15,116.65 crore in the core sector. This includes a memorandum of understanding that Kerala Tourism signed with Tamara Leisure Experiences for a Rs 250-crore houseboat hotel project, which the Bengaluru-based hospitality group will execute in Alappuzha and Kannur districts, according to a Kerala Tourism release.

TIM 2023 saw the participation of nearly 500 investors and entrepreneurs, including 46 startups and 118 investors from the Responsible Tourism sector. A total of 75 projects were presented, of which 52 were from the private sector. They contributed to the investment offers.

Besides 23 projects proposed by the Tourism Department, 16 projects were mooted as public-private partnerships.

"Together, the 39 projects contributed to investment offers worth Rs 2,511.10 crore. Also, besides the 52 proposals in the private sector, 21 projects worth Rs 12,605.55 crore won investment offers," the release said.

The day-long deliberations held in the state capital on Thursday also led the Tourism Department to set up a dedicated facilitation centre.

To be headed by the Tourism Secretary, this body will carry out time-bound actions as a follow-up to the outcomes of the deliberations and business meets at the TIM, which was inaugurated by Chief Minister Pinarayi Vijayan, the release said.

Furthermore, there will be a coordination committee, led by the Tourism Director, with the association of the secretaries of various departments.

The committee will have the power to intervene if any projects face issues, Tourism Minister P A Mohamed Riyas said at the valedictory session of TIM on Thursday.

The committee will hold regular ministerial meetings to keep track of the progress of the tourism investment endeavors, he added.