Releases policy for incentivising job creation in tourism projects
Recognizing the significant role of employment-intensive tourism projects, the Andhra Pradesh Tourism Policy 2024 has proposed to incentivize these tourism projects, fostering sustainable and inclusive growth within the sector.
One of these incentives is the Employment Subsidy to support employment intensive tourism projects, based on the Employment-to-Investment (E/I) ratio (in Crores).
It is in line with the Andhra Pradesh Tourism Policy 2024-2029, that the employment Incentive Policy has been formulated to create substantial employment opportunities that contribute to the overall growth of the tourism sector.
The primary objective of this policy is to generate 3.0 lakh jobs, which constitutes 15% of the overall State employment target of 20 lakh jobs over the next five years (2024-2029) as outlined in the Andhra Pradesh Tourism Policy 2024-29. These incentives are designed to support projects that generate significant employment and enhance the state’s tourism landscape.
‘Tourism plays a pivotal role in the economy of Andhra Pradesh, presenting vast opportunities due to the state’s rich cultural heritage, natural beauty, and diverse tourist destinations.
To propel the state’s economic growth, it is vital to prioritize the promotion of employment- intensive industries within the tourism sector’ said the Government Order issued by Mr Ajay Jain, Special chief secretary to Government of Andhra Pradesh.
The employment incentives will be applicable to tourism projects that commence operations during the Andhra Pradesh Tourism Policy period.
