If another buyer comes along, we'll see. The number of foreign tourists to India is expected to touch 5 million by 2001, while the domestic tourists' number is projected to touch 90 million. India's share in world tourism is a meagre 0.4 per cent, but it is expected to touch 1-2 per cent by 2005. Thanks to an upsurge in business travel in the post-liberalisation era, the Indian travel industry has attracted global majors' attention. Business travel has stabilised at a growth rate of 10-15 per cent per annum.
Inbound travel is still fraught with infrastructural problems.
However, pressured margins and slow growth in profitability have somewhat diluted the excitement. But travel operators are optimistic. We believe that the tourism business is coming of age and a great amount of acquisitions and mergers are going to create professionalism and growth in the tourism industry. The Internet is a factor, according to analyst Shah. The travel scene in India is very competitive.