With the working-age population of India expected to rocket over the next decade, the investment landscape looks set to change, having a profound effect on the hotel market, finds Ian Jarrett.
From Bureaucracy to Bollywood
Indonesia, Brazil, Pakistan and Bangladesh combined, and if the population continues to grow at its current rate, India will overtake China as the world’s most populous nation by 2030. While the 2010 census figures reveal population growth of 181 million over the past decade to 1.21 billion, growth is slowing down: 17.5% compared to 21.5% growth over the previous decade. Dig a little deeper into the figures, and they show the number of people in the working-age population aged 15 to 64 is expected to increase from 781 million in 2010 to 916 million in 2020 to a staggering 1.02 billion in 2030. India will remain a very young country for the next twenty years. It will also be better educated. Literacy is increasing, especially among females, although the numbers of those taking a college education remains pitifully poor. Urbanisation is also gathering place as more people seek work in the cities. Overlay these statistics onto on the hospitality sector and India will see profound change at every level: investment sources, hotel design and management, customer profile and expectations. A new wave of young entrepreneurs is redrawing the investment
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hen you scratch the surface of India’s latest head count, the trends reveal that the country’s economic future will most surely be shaped by the young. More people now live in India than in the United States,
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