Tourism News

KERALA TOURISM NEWSLETTER

Budget Prioritises Tourism Sector with Substantial Investment, Accelerated Development

Tourism Minister Mr P. A. Mohamed Riyas announced that the state budget for 2024-25 has significantly bolstered Kerala Tourism, allocating a substantial Rs 351.42 cr. to advance ongoing projects and introduce new initiatives in this pivotal sector. 

The budget, presented by Finance Minister Mr K. N. Balagopal in the state assembly, made increased allocations to scale up infrastructure in promising segments like convention tourism and heritage and eco-tourism that will generate more revenue and jobs across the state, Mr Riyas said.

“The budget comes as a huge endorsement of the projects in the tourism sector by earmarking substantial provisions for taking them forward to reinforce Kerala’s standing as a global experiential tourism hub and the most sought-after destination in India,” the minister said.

The minister announced plans to explore a partnership with the Kerala Financial Corporation (KFC) to implement a low-interest loan scheme aimed at enhancing tourism infrastructure. With an anticipated investment of Rs 5000 cr., this initiative aims to accelerate growth by adding 10,000 hotel rooms and establishing world-class convention centers over the next three years.

The budget has also made allocations for improving the standard of tourism facilities (Rs 136 cr.), marketing (Rs 78.17 cr.), heritage, culture and environment tourism (Rs 24 cr.), Responsible Tourism (Rs 15 cr.) subsidies and incentives (Rs 15 cr.) Kerala Tourism Development Corporation (Rs 12 cr.), skilling and professional quality improvement (Rs 17.5 cr.), eco-tourism (Rs 1.90 cr.), and Champions Boat League (Rs 9.96 cr.).

The Muziris Heritage Project received an added Rs 14 cr., while the Thenmala Eco-Tourism Project secured an additional Rs 2 cr. in allocations. Additionally, the budget set aside Rs 20 cr. for the development of 24 guest houses, four Yatri Nivases, and two Kerala Houses.

Furthermore, the budget proposed the establishment of mini Marinas and Yacht hubs in four tourist destinations-Alappuzha, Beypore, Kochi, and Kollam. These hubs will feature Tourism Facilitation Centres, complete with rest areas, restaurants, motels and spaces for minor entertainment activities.