Tag: Tourism Industry

  • 10 Richest Royal Families in India and Their Source of Lavish Livelihood

    Even though a monarch no longer rules India there are no kingdoms as there used to be once. We can still find many royal families in India living life with grandeur and richness. Some still live in palaces, while some own considerable stakes in other real estate.

    In 1971, when the Indian Constitution had its 26th amendment, many privileges were lost by the royal families in India. However, even though they lost their royal titles and status, some continue to live a life of luxury to date. All thanks to the fame and fortune left behind by their ancestors. It helped them persist in their royal identity and still have a good amount of influence and power with them.

    But the things left by their ancestors won’t last forever, at least not the money, and they know this. So, while still maintaining their royalty, many royal families have tried various ways to earn a livelihood. So, though they won’t get their royal treasure and power back, they still have their luxury and stature to preserve.

    Here, we have brought you a list of 10 rich royal families in India and how they live and earn a livelihood.

    List of 10 Richest Royal Families in India With Their Net Worth

    Royal Families Net Worth (Approx)
    Royal Family of Jodhpur INR 22,000 Crores
    Royal Family of Jaipur INR 20,000 Crores
    Gaekwads of Baroda INR 20,000 Crores
    Royals of Mewar INR 10,000 Crores
    Wadiyar Dynasty INR 10,000 Crores
    Alsisar Royal Family INR 3,000 Crores
    Royal House of Bourbon INR 1,900 Crores
    The Nawabs of Pataudi INR 800 Crores
    Bhonsale Dynasty INR 500 Crores
    Royal Family of Jamnagar

    Royal Family of Jodhpur

    Primary Source of Income: Hospitality Industry

    Royal Family of Jodhpur - Richest Royal Family in India
    Richest Royal Family in India – Royal Family of Jodhpur

    The Royal Family of Jodhpur, led by Maharaj Gaj Singh II, represents a fascinating blend of regal heritage and modern entrepreneurship. This family, ruling from the iconic Umaid Bhawan Palace, one of the world’s largest private residences, showcases a successful transition from traditional royalty to contemporary business magnates.

    Currently, Maharaj Gaj Singh II lives with his family in the Umaid Bhawan Palace. It is speculated that the Royal Family of Jodhpur has a net worth of INR 224 billion.

    How Does the Royal Family of Jodhpur Make Money?

    • Spread across an area of 11 hectares, the Umaid Bhawan Palace has 347 rooms and four tennis courts, swimming pools, etc. This is the palace where famous Bollywood Actress Priyanka Chopra married the American singer & actor Nick Jonas. This palace serves as a significant source of income for the royal family.
    • Maharaja Gaj Singh II has once served as a member of the Rajya Sabha. A few years ago, he was the Indian High Commissioner to Trinidad and Tobago.

    Historical and Economic Significance

    The Rathore family, with Maharaj Gaj Singh II at the helm, has a storied past that dates back centuries. The family’s wealth stems from owning significant historical properties like the Mehrangarh Fort and the Umaid Bhawan Palace. These landmarks are not only cultural treasures but also substantial income sources due to their transformation into tourist destinations and luxury accommodations.

    Umaid Bhawan Palace: An Absolute Marvel

    Umaid Bhawan Palace - Richest Royal Family in India
    Umaid Bhawan Palace – Richest Royal Family in India

    The Umaid Bhawan Palace, a majestic structure sprawling over 11 hectares, is ingeniously divided into three parts. The royal family resides in one segment, while another is operated as a luxury hotel by the Taj Hotels, reflecting a strategic partnership that enhances their financial stability. The third part serves as a museum, attracting tourists worldwide and adding to the family’s revenue streams. This palace gained additional fame as the venue for high-profile events, including the wedding of Priyanka Chopra and Nick Jonas.

    Banking Upon Heritage for Modern Business

    In the 1970s, facing financial difficulties, Gaj Singh II, affectionately known as Bapji, returned from England determined to revitalize his family’s fortunes. He transformed ancestral palaces into museums and luxury hotels, a move that not only preserved the family’s heritage but also established a sustainable income source. This strategic shift mirrored successful models adopted by other royal families in Rajasthan, ensuring both the preservation of cultural heritage and financial viability.

    Chanwa Fort: A Transformation Story

    Chanwa Fort
    Chanwa Fort

    The narrative of Chanwa Fort, under Maharaja Dalip Singhji, exemplifies the adaptive reuse of royal properties. Initially a financial drain, the fort’s conversion into a heritage hotel in 1992 turned it into a profitable venture. This transformation was timely, coinciding with a boom in tourism in Rajasthan, which helped secure the fort’s status as a desirable destination for international and domestic visitors.

    Collaboration and Restoration

    The royal family’s active involvement in the restoration and management of their estates is crucial. Working closely with restoration artists, they ensure that renovations respect the historical integrity of the properties while providing modern luxuries to guests. This collaborative approach helps maintain the authenticity of the royal residences, upscaling guest experiences and ensuring the family’s continued relevance in the heritage tourism sector.

    The Royal Family of Jodhpur exemplifies how traditional dynasties can hover through the challenges of modernity by making the most out of their historical assets, entrepreneurial spirit, and innovative business strategies. Their journey from rulers of a princely state to influential players in the global hospitality industry highlights their adaptability and emphasis on prosperity as a whole.

    Royal Family of Jaipur

    Primary Source of Income: Hospitality Industry

    The Royal Family of Jaipur - Richest Royal Family in India
    Richest Royal Family in India – The Royal Family of Jaipur

    Nestled in the heart of Rajasthan, the Royal Family of Jaipur, also known as the Kachwaha dynasty, continues to embody the regal heritage and cultural splendor of the region. Bhawani Singh, the last titular head of Jaipur, died at 79 in April 2011.

    Bhawani Singh also served as lieutenant Colonel and Brigadier in the Indian army from 1951 to 1975. With no son to appoint as his heir, Bhawani Singh decided to adopt his only daughter, Diya Kumari’s son, Padmanabh Singh, as his successor. Padmanabh was crowned as the Maharaja of Jaipur in 2011. One of the richest Indian royal family, Bhawani Singh’s lineage continues through Padmanabh Singh, who now holds the title of Maharaja of Jaipur. Maharaja Padmanabh has played a pivotal role in both preserving and modernizing the family’s legacy. With an estimated net worth between $697 million and $855 million, the Royal family of Jaipur’s wealth is not only steeped in history but also a variety of modern entrepreneurial ventures.

    How Does the Royal Family of Jaipur Make Money?

    • Padmanabh Singh is a national-level polo player. The young man is also an enthusiastic traveler who has grabbed the attention of various magazines.
    • The royal family contributed the Rambagh palace to the Taj Hotel to manage and run the place like a hotel.
    • Padmanabh has recently partnered with Airbnb and has put up a suite in Jaipur. It also aids in the financial income of the family.

    Historical Significance and Wealth Sources

    The Jaipur royal family’s wealth historically stems from vast land holdings, palaces, and valuable possessions passed down through generations. Additionally, their financial portfolio is diversified with investments in businesses and real estate. Despite the formal abolition of princely titles in 1971, the family’s influence and wealth continue to make them a significant entity in India.

    Modern Ventures and Cultural Contributions

    Taj Hotel's Rambagh Palace - Richest Royal Family in India
    Taj Hotel’s Rambagh Palace – Richest Royal Family in India

    In the 1990s, the Jaipur royal family, along with other Rajasthani royals, began transforming their palaces into heritage hotels. This initiative not only preserved the architectural legacy but also revitalized the local economy by boosting tourism and creating jobs. The family’s Rambagh Palace, managed by the Taj Hotel, exemplifies this successful blend of heritage preservation and luxury hospitality.

    Culinary Heritage and Innovations

    The royal family has also ventured into the culinary world, using ancestral recipes to attract tourists. These traditional dishes, served in their heritage hotels, offer guests a taste of royal life. The initiative to serve heritage food has not only preserved traditional cuisine but has also become a unique selling point for their hospitality business.

    Philanthropy and Social Contributions

    Proceeds from various ventures, especially those from partnerships like the one with Airbnb, support charitable causes. Princess Diya Kumari’s foundation benefits from these revenues, focusing on social and educational projects that aid the local community.


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    Royals of Mewar

    Primary Source of Income: Tourism & Hospitality Industry

    Royals of Mewar - Richest Royal Family in India
    Richest Royal Family in India – Royals of Mewar

    The Mewar dynasty, one of India’s most storied royal lineages, traces its origins back to the 7th century with notable figures like Maharana Pratap, symbolizing strength and resistance. In March 2025, Shriji Arvind Singh Mewar, the 76th Custodian of the Mewar dynasty, passed away at the age of 81. Under his leadership, the family had successfully transitioned from traditional royalty to modern-day entrepreneurship. The family legacy is now continued by his son, Shriji Lakshyaraj Singh Mewar, who becomes the 77th Custodian of the Mewar dynasty. He is expected to carry forward his father’s work and vision, managing the operations of the HRH Group of Hotels.


    How Does the Royal Family of Mewar Make Money?

    • The family also owns various heritage hotels, resorts, and charitable institutions across Rajasthan.
    • Some of the royal properties, such as the Lake Palace and the Fateh Prakash Palace, are given to the Taj Group of Hotels for lease management.
    • They have opened a part of the Udaipur City Palace for tourism.

    Historical and Economic Significance

    The Mewar dynasty has historically been a powerhouse of wealth and influence, with its roots deeply embedded in the golden soil of India’s history. The family’s wealth is largely derived from extensive land holdings, which historically included vast tracts of agricultural land that provided a steady income through produce, rents, and other related activities. Over the centuries, the dynasty has accumulated significant assets through trade, taxation, and tributes from vassal states.

    Heritage and Tourism

    City Palace Udaipur - Richest Royal Family in India
    Richest Royal Family in India – City Palace Udaipur

    Shriji Arvind Singh Mewar was the head of the HRH Group of Hotels until March 2025, which has over ten hotels under it. The royal family of Mewar owns several heritage properties, including iconic palaces and forts, which have been transformed into major tourist attractions. These include the famed City Palace in Udaipur, which now houses museums and luxury hotels, contributing substantially to the family’s income. The strategic leasing of properties like the Lake Palace and the Fateh Prakash Palace to the Taj Group of Hotels has also bolstered their financial portfolio, blending historical preservation with modern hospitality.

    Under the leadership of Shriji Lakshyaraj Singh Mewar, the family is expected to continue these initiatives, while potentially expanding their ventures into new opportunities.

    Diversified Investments and Ventures

    Beyond real estate and hospitality, the Mewar family has diversified its investments across various sectors. This includes involvement in educational and charitable institutions, which not only enhance their societal contributions but also solidify their financial base. The family’s engagement in cultural patronage and support of the arts further enriches their role in India’s cultural significance, maintaining their status as influential figures in both economic and social spheres.


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    The Nawabs of Pataudi

    Primary Source of Income: Arts

    The Nawabs of Pataudi - Richest Royal Family in India
    Richest Royal Family in India – The Nawabs of Pataudi

    How could our list be complete without mentioning Bollywood’s Pataudi Clan, one of the richest royal families in India? The Nawabs of Pataudi, with their illustrious lineage rooted in the princely state established in 1804, represent a fascinating blend of historical depth and modern allure. It’s almost unlikely that anyone from India hasn’t heard the name of the Bollywood Actor Saif Ali Khan. But some might not be aware that he is a descendant of the Nawabs of Pataudi.

    The last titular head of the Pataudi Clan was Mansoor Ali Khan Pataudi – a Nawab. He was a former captain of the Indian Cricket Team. Mansoor Ali married the Bollywood actress Sharmila Tagore, and they had three children, Saif Ali Khan being one of them.

    This royal family, currently led by Saif Ali Khan, has adeptly hovered through the circles of both heritage and contemporary enterprise. Saif, an acclaimed actor in the Indian film industry, has been able to successfully leverage his royal background and personal achievements to sustain and grow the family’s influence and wealth.

    How do the Nawabs of Pataudi Make Money?

    • Presently, Saif Ali Khan holds the title of Nawab of Pataudi and is an actor, and he has outstanding earnings from Bollywood.
    • Apart from being a Bollywood actor, he also owns the Pataudi Palace, worth around ₹800 crores.
    • He is also married to Bollywood Actress Kareena Kapoor, which also adds income to the Pataudi Family.

    Historical and Cultural Legacy

    The Pataudi family’s origins trace back to the 16th century, with their ancestry linked to the Afghan Muslim Pashtuns of the Barech tribe. The family’s prominence rose with Faiz Talab Khan, who was made the first Nawab by the British East India Company for his assistance during the Second Anglo-Maratha War. Over the generations, members such as Iftikhar Ali Khan Pataudi and Mansoor Ali Khan Pataudi added to their legacy, the latter being a celebrated captain of the Indian cricket team.

    Pataudi Palace: A Symbol of Royal Grandeur

    Richest Royal Family in India - Pataudi Palace
    Richest Royal Family in India – Pataudi Palace

    The Pataudi Palace, conceptualized in 1939 and inherited by Saif Ali Khan in 2014, stands as an ode to the family’s regal past and their ongoing influence. This grand estate, also known as Ibrahim Kothi, sprawls over 10 acres and features 150 rooms, each adorned with unique memorabilia. Beyond serving as a private residence, the palace boosts the family’s income through film shoots and events, hosting movies like Rang De Basanti and Animal, which showcase its architectural beauty.

    Diversification of Income Sources

    Saif Ali Khan in the Pataudi Palace
    Saif Ali Khan in the Pataudi Palace

    The family’s financial portfolio is robust, encompassing real estate, tourism, and Saif Ali Khan’s career in Bollywood. Saif’s roles in films such as Dil Chahta Hai and Sacred Games have not only cemented his status as a leading actor but also contributed significantly to his wealth. Additionally, the Pataudi Palace operates as a luxury hotel, adding a substantial revenue stream. This blend of historical assets and modern entrepreneurial ventures illustrates the family’s dynamic approach to wealth management.

    Modern Adaptations and Challenges

    The Nawabs of Pataudi have faced their share of challenges, particularly with the legal complexities surrounding properties classified as ‘enemy properties.’ Despite these hurdles, they have maintained their estate’s legacy while adapting to contemporary economic changes and evolutions. Saif Ali Khan’s strategic decisions, such as repurchasing the ancestral palace and investing in diverse sectors, reflect a modern interpretation of his royal heritage, ensuring the family’s relevance and prosperity in today’s world.

    Alsisar Royal Family

    Primary Source of Income: Hospitality Industry & Events

    Richest Royal Family in India -Alsisar Royal Family
    Richest Royal Family in India -Alsisar Royal Family

    In the beautiful state of Rajasthan, the Royal Family of Alsisar stands as a prominent example of how traditional royalty has adapted to the modern world. The family, which originates from the historic kingdom of Khetri, is currently led by HH Abhimanyu Singh, the sixteenth scion. This lineage not only boasts a rich history but also a powerful presence in today’s cultural and economic spheres.

    How Does the Alsisar Royal Family Make Money?

    • The Alsisar family owns grand palaces across Jaipur and Ranthambore.
    • The royal family also runs several hotels on their properties.
    • Apart from running all these palaces and hotels, Abhimanyu Singh is also a co-sponsor of India’s hippest annual EDM festival, Magnetic Fields. Singh is called the party prince of India.

    Historical and Economic Significance

    The Alsisar family’s roots trace back to the 18th century with Maharaja Shekhawat Pratap Singh, known for his might and contributions to Rajasthan’s cultural heritage. Over the centuries, the family has played a significant role in defending their legacy and preserving the rich Rajput traditions. Today, their wealth is largely derived from ancestral properties and investments in various sectors, including heritage tourism and hospitality.

    Architectural Heritage and Tourism

    The Alsisar family owns several grand palaces in Jaipur and Ranthambore, which have been transformed into major tourist attractions. Iconic landmarks like the Alsisar Mahal highlight their architectural grandeur and cultural significance. These properties, converted into heritage hotels, draw visitors from around the globe, providing a substantial income stream while allowing the family to maintain their historical estates.

    Diversification of Income Sources

    Under the leadership of Abhimanyu Singh, the family has diversified their income sources beyond traditional property management. They are actively involved in the hospitality industry, running several successful hotels on their properties. Moreover, Abhimanyu Singh is known as the party prince of India due to his role as a co-sponsor of the popular annual EDM festival, Magnetic Fields, which blends modern entertainment with royal hospitality.

    Cultural and Social Contributions

    The Royal Family of Alsisar is deeply engaged in promoting the cultural heritage of Rajasthan. They manage heritage properties and museums that attract tourists and scholars, enhancing the cultural understanding of the region. Additionally, the family participates in philanthropic activities, supporting education, healthcare, and community development, which showcases their relentless focus on social responsibility.

    Gaekwads of Baroda

    Primary Source of Income: Politics & Real Estate Business

    Royal Gaekwads of Baroda - Richest Royal Family in India
    Royal Gaekwads of Baroda – Richest Royal Family in India

    The Gaekwad Dynasty, a prominent Maratha clan, has been a significant part of India’s royal history, with its roots stretching back to the early 18th century when Pilaji Rao Gaekwad established their rule by conquering the city of Baroda from the Mughal Empire. The dynasty was officially granted the city as a jagir by Chhatrapati Shahu I, marking the beginning of their long-standing influence in the region. Samarjitsinh Gaekwad is the head of the royal family of Vadodara. When he succeeded to the throne, he owned approximately ₹20,000 crores.

    How do the Gaekwads of Baroda Earn Money?

    • It includes primarily real estate, land, and Laxmi Vilas Palace.
    • He also inherited paintings by Raja Ravi Verma and gold, silver, and royal jewelry.
    • One of the primary sources of his income is managing temple trusts that add up to 17 temples across Gujarat and Banaras.
    • Samarjitsinh has also represented himself in the Ranji trophy of his state as a cricketer.
    • He was also engaged in politics for some time but has been inactive since 2017.

    Historical and Economic Significance

    The Gaekwads initially served under the Dabhade family, the Maratha chiefs of Gujarat. However, after a series of power shifts and allegiance changes, notably during and after the Third Battle of Panipat in 1761, they emerged as significant rulers within the Maratha Confederacy. Their autonomy was later recognized by the British through the Treaty of Cambey in 1802, which acknowledged their rule in exchange for a strategic alliance.

    Modernisation and Philanthropy

    Maharaja Sayajirao Gaekwad III, who reigned from 1875 to 1939, was particularly noted for his progressive reforms and efforts to modernize Baroda. He introduced compulsory primary education, a library system, and the Maharaja Sayajirao University of Baroda, significantly contributing to the region’s development. His initiatives also extended to the economic realm, where he promoted the establishment of textile mills, laying the foundation for Baroda’s textile industry.

    Cultural and Architectural Contributions

    Laxmi Vilas Palace
    Laxmi Vilas Palace

    The Gaekwads were also patrons of the arts and culture, which is evident from their extensive support of music, literature, and fine arts. The Laxmi Vilas Palace, an architectural marvel and one of their most significant legacies, stands as a fitting tribute to their refined aesthetic sensibilities and royal grandeur. This palace not only serves as a residence but has also been a venue for various cultural and social events, further highlighting the dynasty’s role in promoting cultural heritage.

    Current Status and Legacy

    Today, the head of the family, Samarjitsinh Gaekwad, continues to manage the vast estate which includes the iconic Laxmi Vilas Palace and numerous other properties. His inheritance includes an impressive collection of artifacts and paintings by Raja Ravi Varma, alongside managing temple trusts across Gujarat and Banaras. Despite the formal abolition of the monarchy, the Gaekwads of Baroda are still held in high regard and play an active role in regional and cultural affairs, embodying a blend of royal tradition and modern entrepreneurship. The Gaekwad Dynasty’s journey from feudal lords to modern-day cultural custodians and entrepreneurs illustrates a unique adaptation to changing times while maintaining their regal stature and commitment to public welfare.

    Wadiyar Dynasty

    Primary Source of Income: Hospitality Industry & Silk Business

    Wadiyar Dynasty - Richest Royal Family in India
    Wadiyar Dynasty – Richest Royal Family in India

    The Kingdom of Mysore was ruled by the Wadiyar Dynasty back in the day. They trace their history to the Yaduvanshi clan of Lord Krishna.

    In 1612, a curse on the Wadiyar dynasty by Queen Alamelamma of Vijaynagar for capturing the throne that Mysore kings would never bear children. This curse seems to be proving true for the last 400 years for the royal family of India.

    Even now, the head of the dynasty is 27-year-old Yaduveer Krishnadutta. Chamaraj Wadiyar is not the direct heir whose net worth is approximately INR 10,000 crores.

    His uncle, Srikantadatta Wadiyar, died in 2013, and couldn’t name a successor as he had no children. And hence, his wife, the Rajmata, adopted Yaduveer as their son and turned him into the king.

    The Wadiyar Dynasty, historically known as the royal family of Mysore, has played a significant role in shaping the economic and cultural scenario of Southern Karnataka. Their lineage has been pivotal in the region’s history, especially noted for their rule over the Kingdom of Mysore until Indian independence in 1947.

    How Does the Wadiyar Dynasty of Mysore Make Money?

    • Royal Silk of Mysore was started by Srikantadatta. Mysore as the top silk producer, the family’s brand remained a significant income source.
    • The present king, Yaduveer, holds a degree in English Literature and economics and works on tourism and heritage infrastructure development and promoter in Mysore.
    • They also earn an income by renting their palace grounds in Bangalore for marriages and functions.
    • It is speculated that the family has assets worth Rs 10,000 crore.

    Historical Wealth and Sources of Income

    The Wadiyar family’s wealth historically stemmed from extensive land holdings, royal privileges, and astute investments. They owned vast tracts of land around the Kingdom of Mysore, which were a major source of income through agricultural produce, rents, and other related activities. Additionally, as rulers, they had the right to collect taxes from the residents of their kingdom, further bolstering their economic strength.

    Investments and Economic Challenges

    Over the years, the Wadiyar family expanded their economic base through investments in real estate, stocks, and various business ventures. Despite these efforts, the abolition of the privy purse in 1971 posed significant financial challenges, leading to a period of economic instability. The family faced numerous legal battles and bureaucratic hurdles, particularly with the Income Tax authorities and the Government of Karnataka, which strained their financial resources.

    Tourism and Cultural Contributions

    The Mysore Palace
    The Mysore Palace

    The Mysore Palace, a stunning symbol of their architectural patronage, serves as a major tourist attraction, drawing revenue from ticket sales, guided tours, and souvenir shops. The palace’s maintenance and operations became a joint effort with the government, ensuring its preservation and accessibility to the public. This partnership, although fraught with challenges, has helped maintain the palace as a key cultural and historical site.

    Modern Ventures and Legacy

    In more recent times, the Wadiyars have ventured into modern business with initiatives like The Royal Silk of Mysore, a silk brand that has gained renown both nationally and internationally. Following the passing of Srikantadatta Wadiyar in 2013, the dynasty saw a significant transition when Yaduveer Krishnadutta Chamaraj Wadiyar was adopted and bestowed with the royal title, marking a new era for the family.

    The Wadiyar Dynasty’s journey through India’s history speaks volumes about their resilience and adaptability. From ruling monarchs to modern entrepreneurs, they have managed to sustain their legacy while contributing significantly to the region’s economy and culture. Their story is not just one of wealth and royalty but also of overcoming adversities and evolving with the times.


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    Bhonsale Dynasty

    Primary Source of Income: Politics

    Uday Singh of Bhonsle Dynasty - Richest Royal Family in India
    Uday Singh of Bhonsle Dynasty – Richest Royal Family in India

    Living in India, you must have heard about Chhatrapati Shivaji Maharaj and the Maratha Empire. Shivaji Maharaj was a member of the Bhonsle Maratha Dynasty. However, you might not be aware that their descendants are still scattered around various places in Maharashtra, continuing the legacy of one of the prominent royal families of India.

    One of the descendants, Udayanraje Bhosale of Satara, is said to be the 13th Chhatrapati titleholder. Apart from that, he is also an Indian Politician.

    The House of Bhonsales, a prominent Marathi royal house, is renowned for its significant historical and cultural influence in India. Originating from the Kunbi Marathas and claiming descent from the Rajput Sisodia dynasty, the Bhonsales have been key figures in the Maratha region since the late 16th century.

    How Does the Bhonsale Dynasty Make Money?

    • Udayanraje Bhosale has been serving as a member of the Rajya Sabha from Maharashtra since 2020 and is a member of the Bharatiya Janata Party (BJP).
    • He was also an MP of Lok Sabha from the Satara Constituency from 2009 to 2019.
    • Bhosale was earlier a member of the Bharatiya Janata Party and a member of the Maharashtra Legislative Assembly from 1998 to 1999.
    • Politics has been a significant source of income for this family, and it has been declared to have a net worth of around INR 500 crores as of 2020.

    Founding and Expansion

    The dynasty was established by Maloji Bhosale in 1577, a prominent general under Malik Ambar of the Ahmadnagar Sultanate. Maloji was honored with the title of Raja by Bahadur Nizam Shah in 1595 or 1599, marking the beginning of the Bhonsale’s rise to power. Alongside his wife Uma Bai, Maloji had two sons, Shahaji and Sharifji, who were integral to the dynasty’s expansion.

    Establishment of the Maratha Empire

    The Maratha Empire, founded by Shivaji I, grandson of Maloji, in 1674, was a stronghold against invasions from the Mughal Empire and the Bijapur Sultanate. Shivaji’s vision of Hindavi Swarajya emphasized a government for and by the people, reducing the power of elites and increasing the representation of the common populace.

    Prominent States and Modern Descendants

    The Bhonsale dynasty ruled over several significant states including Satara, Kolhapur, Thanjavur, Nagpur, Akkalkot, Sawantwadi, and Barshi. These regions flourished under their governance, contributing to the dynasty’s wealth and legacy. In the present day, descendants such as Chatrapati Udayan Raje Bhosale and Yuvraj Pratapsinh Raje Bhosale continue to uphold the family’s esteemed heritage.

    Cultural and Social Contributions

    The Bhonsales have been staunch patrons of the arts and culture, significantly influencing Marathi culture and politics. Their support extended to various social reforms and the promotion of education, which have left a lasting impact on the regions they governed.

    Royal House of Bourbon

    Primary Source of Income: Hospitality Industry

    Royal House of Bourbon - Richest Royal Family in India
    Royal House of Bourbon – Richest Royal Family in India

    Did you know about the existence of an Indian royal family claiming lineage to the extinct throne of the Kingdom of France? Meet the Bourbons of India, now based in Bhopal. At the helm is Balthazar Napoleon IV de Bourbon, a legal professional and a parent of three children. Their ancestry asserts a legitimate descent from the House of Bourbon, tracing back to Jean Philippe de Bourbon, a French noble who sought refuge in Mughal Emperor Akbar’s court. Notably, Prince Michael of Greece and Denmark suggests in his book that Jean de Bourbon might have been a nephew of Henry IV, the first Bourbon king of France, although this remains unverified.

    If authenticated, Balthazar Bourbon would be the primary heir to the French throne. Furthermore, the Bourbons of India have endeavored to preserve their heritage and promote cultural exchange, engaging in philanthropic activities and fostering ties with both Indian and European communities. Their story presents a fascinating intersection of history and modern identity, bridging continents and centuries through their unique lineage.

    The Bourbons of India, also known as the House of Bourbon-Bhopal, present a unique narrative in the annals of Indian royalty. Their story is a fascinating blend of European lineage intertwined with Indian royal dynamics, centered in the historically rich city of Bhopal.

    How Does the Royal House of Bourbon Make Money?

    • The family earns income through renting out properties they own, including residential and commercial spaces.
    • They generate revenue by hosting cultural events, guided tours of their residence, and exhibitions showcasing their heritage.
    • They sell artifacts, memorabilia, and souvenirs related to their royal lineage, either through on-site shops or online platforms.
    • Members of the family provide consultancy services in areas such as history, culture, or heritage management, leveraging their expertise and lineage.

    Historical Roots and Royal Connections

    The Bourbon Palace – Richest Royal Family in India

    Jean Philippe de Bourbon, compelled to leave France after a duel, arrived in India around 1560. His journey led him to the court of Emperor Akbar, who, impressed by Jean’s lineage and demeanor, offered him a high position and arranged his marriage to Lady Juliana, a relative of the Emperor’s Christian wife. This union not only integrated Jean into the Mughal elite but also began the Bourbon lineage in India, with Jean being appointed as the Raja of Shergar.

    Cultural Integration and Influence

    Over the centuries, the Bourbons of India became deeply embedded in the fabric of Bhopal’s royal court. They adopted local customs and Muslim names, yet they retained their distinct European heritage, as evidenced by their continued practice of Christianity. The family’s prominence peaked with members like Balthazar of Bourbon, who served as the Prime Minister of Bhopal in the early 19th century. His contributions to the city included the construction of the Shaukat Mahal and the Catholic Church of Bhopal, architectural gems that blend European and Indian styles.

    Decline and Modern Identity

    The abolition of royal entitlements and titles by the Indian government in the mid-20th century stripped the Bourbons of their privileges, transforming them from rulers to citizens. Today, they are remembered for their unique historical role and contributions to the cultural and architectural heritage of Bhopal. Despite their reduced status, the Bourbons of India remain an example of the rich, intertwined histories of Europe and India, and their legacy continues to be a point of interest for historians and tourists alike.

    Through their journey from French nobility to Indian royalty, the Bourbons of India exemplify the complex interplay of culture, power, and identity. Their story is not just about the rise and fall of a royal family but also about the enduring connections that can transcend continents and masses.

    Royal Family of Jamnagar

    Royal Family of Jamnagar - Richest Royal Family in India

    Ajay Jadeja, the former Indian cricketer, recently found himself in the spotlight, not for his achievements on the pitch, but for inheriting the royal mantle of Jamnagar — inheriting fortunes worth over $175 million (INR 1,450 crore). Declared the new Jam Saheb of Nawanagar (now Jamnagar) on Vijayadashami, Jadeja steps into a rich legacy, succeeding his uncle, Shatrusalyasinhji Digvijaysinhji Jadeja.

    The Jadeja Rajput dynasty, which once ruled the princely state of Nawanagar, carries a remarkable legacy intertwined with both Indian history and cricket. Ajay’s grandfather, Digvijaysinhji Jadeja, was a celebrated figure in this lineage — not only serving as Jam Saheb from 1933 but also playing a pivotal role in Indian cricket as the president of the BCCI from 1937 to 1938. This familial bond with the sport extends to the cricket field, where Ajay himself shined as a member of India’s national team, further connecting the dynasty’s royal heritage with the cricketing world.

    The Jadeja family’s royal residence in Jamnagar is as majestic as its lineage. Their home reflects opulence, featuring classic wooden flooring, a grand courtyard, and a spacious, well-manicured garden. Their interiors boast an expansive dining area adorned with souvenirs from their global travels, while a well-designed bookshelf adds a touch of intellectual elegance. Ajay’s new role as the Jam Saheb is not merely a royal formality but a continuation of a deep-seated legacy that bridges the past with the present — one that combines the grandeur of royalty with India’s beloved sport, cricket.

    The Maharaja Jam Saheb of Nawanagar (now Jamnagar) is famous for their priceless collection of jewellery, especially under Ranjithsinhji. Jacques Cartier called their emerald collection “unequaled in the world.” It includes beautiful pieces like an emerald and pearl necklace, an art deco emerald and diamond necklace, and an emerald choker, all designed by Cartier. The family owns palace and a school and has an exquisite jewellery collection.

    Conclusion

    India has been ruled by many great and powerful kings who had loads of money in their treasures. But after the Independence in 1947, a few kings left as monarchs. But soon, in 1971, their power and other privileges were taken away after the 26th Amendment of the Indian Constitution.

    But even without power and being a monarch ruler, the descendants of some of the Royal families happen to lead a very luxurious life, primarily because of the money and property left by their ancestors. Also, many of them have found other sources of income, such as converting their royal palaces into hotels, getting into business, or becoming politicians. Above is a list of a few royal families of India, their current source of income, and how they continue to live a life.

    As custodians of immense historical value and architectural grandeur, these families continue to wield significant influence in the spheres of culture, economy, and philanthropy, bridging the gap between the pages of history books and the realities of the 21st-century marketplace. Their stories enrich our understanding of India’s multifaceted identity, offering lessons in resilience, stewardship, and the art of reinvention.

    Like reading more of such decodings from India’s rich history and economy? Keep heading onto StartupTalky for more of such content. We are always up to something antique yet new! Coming back to the topic, the remarkable ability of these royal families to adapt and thrive among commoners and democracy, serves as inspiration, highlighting the very fact that legacy is not just preserved in stone and mortar but lived daily through the innovative spirit and cultural contributions of each generation.

    FAQs

    Who are the richest royal families in India?

    Some of the Richest Royal families in India are:

    • Royal Family of Jodhpur
    • Royal Family of Jaipur
    • Royals of Mewar
    • Pataudi Clan
    • Alsisar Royal Family
    • Gaekwads of Baroda
    • Wadiyar Dynasty
    • Bhonsale Dynasty
    • House of Bourbon

    Who is richest royal family in India?

    The Royal Family of Jodhpur is one of the richest royal families in India.

    What is the net worth of The Royal Family of Jodhpur?

    The Royal Family of Jodhpur has a net worth of INR 22,000 crores.

    What is Arvind Singh Mewar net worth?

    The Mewar dynasty, formerly led by Shriji Arvind Singh Mewar, had an estimated net worth of INR 10,000 crores. He oversaw this legacy, including the HRH Group of Hotels and various heritage properties in Udaipur. Following his passing in 2025, the family’s fortune is now under the stewardship of Shriji Lakshyaraj Singh Mewar, the 77th Custodian of the Mewar dynasty.

    What is the major source of income for Royal families in India now?

    Major sources of income for Royal families in India are:

    • Tourism Industry
    • Hospitality Industry
    • Politics
    • Business
    • Arts

    What is the net worth of The Nawabs of Pataudi?

    The Nawabs of Pataudi have a net worth of around INR 800 Crores.

    What is Gaj Singh’s net worth?

    Gaj Singh, the successor of the Jodhpur royal family, possesses a net worth of INR 22,000 crores.

    What is the Nawab of Pataudi Saif Ali Khan’s net worth?

    Saif Ali Khan, the Nawab of Pataudi, has an estimated net worth of around INR 1,200 crores. This comes from his successful acting career and his royal family roots.

    What is Yaduveer Krishnadatta Chamaraja Wadiyar’s net worth?

    Chamaraja Wadiyar, the successor of the Wadiyar Dynasty, possesses a net worth of INR 10,000 crores.

    What is Lakshyaraj Singh Mewar net worth?

    The net worth of Lakshyaraj Singh Mewar is approximately INR 10,000 crores. This wealth comes from being a well-known member of the Mewar royal family and their long history.

    What is Ajay Jadeja of Jamnagar royal family net worth?

    Ajay Jadeja, of the Jamnagar royal family, has a net worth of over $175 million (INR 1,450 crore), which he recently inherited after being declared the new Jam Saheb of Nawanagar, now known as Jamnagar.

    What is the historical significance of the Khandpara Royal Family?

    The Khandpara Royal Family ruled the princely state of Khandpara, established in 1599 by Raja Jadunath Singh Mangaraj, the youngest son of Raja Raghunath Singh of Nayagarh. The state was located in the present-day Nayagarh district, Odisha, and played a significant role in the region’s history until its accession to the Indian Union on January 1, 1948.

    Who is the current head of the Khandpara Royal Family?

    The current titular head is Raja Saheb Bibhuti Bhushan Singh Mardaraj Bhramarbar Rai, the 14th Raja Saheb of Khandpara. Born on January 4, 1955, he has been active in public service, having served as a Member of the Legislative Assembly (MLA) in Odisha and held ministerial positions in the state government.

  • Visa Forges Partnership With Skill India to Empower 20,000 Youth for India’s Flourishing Tourist Sector

    Visa, a world leader in digital payments, and the Tourism & Hospitality Skill Council (THSC), which is overseen by the Ministry of Skill Development and Entrepreneurship, Government of India have inked a Memorandum of Understanding (MoU) for a three-year collaboration with a potential value of $1 million. At a recently concluded event, Jayant Chaudhary, Minister of State (Independent Charge) of India’s Ministry of Skill Development & Entrepreneurship (MSDE) and Minister of State of the Ministry of Education, officially launched an initiative to train 20,000 young people in skills relevant to the tourism industry.

    Training young people in 10 states—including Assam, Gujarat, Himachal Pradesh, and West Bengal—to improve the quality of service provided to tourists is the goal of the cooperation, which expands on Visa’s previous work with the Ministry of Tourism. Coursework will center on domestic tourism’s essential occupations, including those of tour guides, customer service representatives, naturalists, and tandem paraglider pilots.

    Leaders Comment

    At the signing of the memorandum of understanding, Minister Jayant Chaudhary stated that the tourist industry in India could create millions of employment and propel the country’s economy forward. Joining forces with Visa is a game-changer in our quest to tap into this untapped potential, train the next generation to be successful in the tourism industry, and elevate India to the status of a world-class tourist destination. The Ministry’s mutual goal of providing young Indians with the knowledge, opportunity, and support they need to build their futures and make meaningful contributions to India’s progress is at the heart of this partnership.

    According to Visa’s Vice Chair, Chief People and Corporate Affairs Officer Kelly Mahon Tullier, the company’s goal is to help young people find better jobs and have a better time while visiting India by providing them with the skills they need to succeed in the tourism industry. By collaborating with the Tourism and Hospitality Skill Council (THSC) and receiving backing from the Ministry of Skill Development and Entrepreneurship, Visa continues to demonstrate its steadfast dedication to India through the cultivation of talent and the endorsement of the government’s goal of elevating the country to the forefront of global tourism.

    Visa Wants Further Strengthen India’s Tourism Sector

    Visa, India’s largest payment network, has invested heavily in the country’s tourist industry in recent years. The Ministry of Tourism has been able to promote India’s many tourist attractions on a global scale with the help of Visa’s insightful data and analytics, which has increased inbound tourism.

    In 2023, the tourist industry in India employed over 42 million people and contributed over $231 billion to the country’s gross domestic product (GDP). As the number of people looking to travel after the pandemic increases, the NSDC-Visa program will help train workers to meet demand, allowing India to realize its dream of being a major tourist destination.


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  • Top 10 Beach Business Ideas | Best Beachside Business Ideas

    Beaches are beautiful and almost everyone under the sun will agree with this fact. From entertainment, commerce, and transportation to recreation and relaxation, all purposes are fulfilled here. The point with beach business is that you have to be socially relevant and economically sound and aware to operate a business here. Also, beaches require you to have appropriate licensing requirements and be conformed to certain standards of quality, precision, and duties.

    Most people opt for vacations and choose beaches for unwinding and spending time with family. This makes beaches one of those touristy places that have huge traffics and are characterized by on and off-season.

    As an entrepreneur, you have the option of creating a business that fits with the lifestyle you want. And if you want to spend your days at the beach and earn money by dipping your toes into the water, here are some profitable beach business ideas for you.

    Best Beach Business Ideas

    1. Food Shacks
    2. Accommodation
    3. Surf Shop
    4. Hostels
    5. House-Sitting
    6. Cruises
    7. Rental Shop
    8. Selling Local Merchandise
    9. Cafe/Restaurant
    10. Fishing Tours

    Best Beach Business Ideas

    Best Beach Business Ideas

    The best beach business ideas that are profitable and equally interesting to do are listed below.

    Food Shacks

    Food Shacks- Best Beach Business Ideas
    Food Shacks – Best Beach Business Ideas

    Beaches thrive on food. People who come to the beach, want to try all sorts of food from local cuisines to international dishes. Local food can be a great connector due to its ethnicity and it helps develop a bond with the customer. Shacks with good comfortable sitting and a variety of food options make one stand out. But you will have to face competition. So having a sector that stands out as a special attraction is important. You have to provide offers and properly market it with effective strategies.

    Accommodation

    Accommodation For Tourists - Best Beach Business Ideas
    Accommodation For Tourists – Best Beach Business Ideas

    Accommodation is one of the major concerns of tourists, the hospitality industry is a great option for a new business. If you have the required capital, consider starting a hotel, guesthouse, motel, and so on. Starting a hospitality business is a great long-term investment for you, especially in the beach community. The value of real estate property is expected to increase drastically in the near future. So, now is the best time to get in.

    Market size of the Hotel & Resort Industry Worldwide
    Market size of the Hotel & Resort Industry Worldwide

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    Surf Shop

    If you are planning to build your business around surfing beaches, then you can make money by opening a surf shop stuffed with various surfing equipment. Tourists and local people like to catch a few waves during their visit, but they usually don’t have all the necessary equipment. If you open a surf shop that provides surfing equipment, rentals and lessons, it will be a hotspot for tourists in both the summer and winter seasons.

    Hostels

    These are affordable options that work best on small tracts of land. They cater to mostly youth and those looking for budget travel options. Pricing is very important here as there is competition and also one has to offer allied facilities like Wi-Fi, food, walking tours, etc. to capitalize on the business. The facility has to be extremely hygienic as a number of people live there.

    House-Sitting

    House sitting Business- Best Beach Business Ideas
    House sitting Business- Best Beach Business Ideas

    Many houses in beach communities are unoccupied during the winter season as they were deemed to be summer homes. So, during winter, the owners of these houses often aren’t around to take care of the place. You can allay the security fears of these homeowners by offering home-sitting services. Working as a house sitter requires little or no capital. And you will have a lot of business to do in the beach community.

    Cruises

    Beaches offer various options like cruises where people can enjoy a luxurious lifestyle. This is a high investment-based plan. For those who love meals on water, dinner cruises can be started with great lighting systems and good music. Pricing is pivotal here as there is competition in this field. One should effectively market well and create customized packages for target populations.

    Rental Shop

    Rental shop- Best Beach Business Ideas
    Rental shop- Best Beach Business Ideas

    A store that rents out scooters, bikes, bicycles, and boats can be very profitable in beach towns. Providing items at competitive rates and group discounts is a way to earn money. These are mostly in demand due to conveyance issues and for self-exploration. Distributing pamphlets, sticking posters, and effective advertising which catches the eye of commuters is important. Also, the quality, make, and type of vehicle plays an important role in making decisions.

    Selling Local Merchandise

    Most of the time, tourists buy local items to take back home. They are particularly attracted to items that are unique and are not available in their hometowns and cities. So, you can start a business that sells local merchandise and souvenirs to tourists.


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    Cafe/Restaurant

    While on vacation, tourists definitely want to have a feel of the food experience in beach communities. So, you can make a lot of money catering to this need. To survive the threat of competition, you need unique culinary abilities that can help you stand out. You can have different menus for summer and winter to ensure that people get exactly what they crave.


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    Fishing Tours

    If you own a boat, you can turn it into a money-spinner. Most beach communities are fishing hotspots, and fishing is one of those interesting activities that tourists don’t like to miss while on vacation. You can offer fishing tour services taking people out to the reef. People will absolutely love the fact that they have a local guide who can take them to all the good spots.

    Conclusion

    Beach businesses are quite profitable. Some other beach business ideas include:

    Beachside businesses thus offer valuable business opportunities. You need the persistence to work upon details and significantly create businesses that can sustain the wrath of competition. Although the seasonal crisis is huge and most businesses set up their price lists accordingly, that is, peak season and offseason.

    FAQs

    What are the most profitable businesses on beach side?

    Some of the best beach side business ideas include:

    • Food Shacks
    • Accommodation
    • Surf Shop
    • Hostels
    • House-Sitting
    • Cruises
    • Rental Shop
    • Selling Local Merchandise
    • Cafe/Restaurant
    • Fishing Tours
    • Photography and Photo Booths
    • Gift Shop
    • Boat Rentals
    • Child Care
    • Pet Boarding Business

    What can you sell at a beach store?

    Beach store is one of the best beachside business ideas. The best things to sell in a store on a beach are:

    • Cold drinks
    • Snacks like popcorn, nuts, chips, sweets etc.
    • Sun block cream or spray
    • Sunglasses
    • Flip flops
    • Swimwear

    What is the growth of Food market in India?

    The food service market in India is growing hugely. It is forecasted to be about $110 billion in 2025.

    What kind of business is a beach resort?

    A Beach Resort is a beachside business with accommodation and easy access to a private beach.

    How is the Cruise business market?

    The global cruise industry revenue is over 27 billion U.S. dollars.

  • How Demarketing Can Reduce the Growing Influx of Tourists?

    Faced with the constant growth of tourism, the principles of demarketing are increasingly used by destinations to limit the impact on the local population. The tourism sector is generating more and more visitors, and UNWTO estimates that by 2030, 4 million tourists will be added to the 1.4 billion people already travelling.

    For many destinations, managing this boom is a significant challenge. Many of them find themselves, victims of their success, when their infrastructure was not designed to support such an increase. Demarketing offers some possible solutions in response to these challenges.

    What Is Demarketing?
    Strategies You Can Apply to Manage the Growing Influx of Tourists

    What Is Demarketing?

    Far from being new, this concept, proposed in 1971 by Philip Kotler and Sidney Levy, is based on the idea that surpluses can be as problematic as shortages. The authors, economists, and marketers respectively, define demarketing as the aspect of marketing that aims to discourage customers (or a particular segment) on a temporary or permanent basis.

    This type of strategy is already widely used in specific sectors, particularly in public health. Think of advertisements on cigarette packs or even those inviting the population to consume alcohol and game sensibly. Therefore, the idea is to limit the increase in demand rather than encourage it since growth would have negative repercussions on society.

    In the current tourism context, more and more managers must reflect on this notion. Should we at all costs attract as many visitors as possible in the name of economic development?

    The graph shows the total number of tourists in millions at different places for the year 2021-2022
    The graph shows the total number of tourists in millions at different places for the year 2021-2022

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    Strategies You Can Apply to Manage the Growing Influx of Tourists

    How do develop a demarketing approach? The strategies to be adopted are based on the same principles as traditional marketing: the 4Ps (promotion, place, product, price). With the help of a few examples, let’s see how these strategies fit together in the context of tourism marketing.

    Promotion

    When a tourist area can no longer manage the flow of visitors it attracts, and the attractions and infrastructure are oversaturated, one possible solution is to stop all forms of promotion.

    The Netherlands Destination Management Organization (DMO) recently did this by announcing that it would focus its energy on managing the destination rather than promoting it.

    Only little-known regions will be the subject of an international campaign. After having announced the inter-seasons, this measure comes as a last resort, relocated the famous letters “I amsterdam”, and made tourists aware of inappropriate behaviour.

    IAmsterdam Sign Removed
    IAmsterdam Sign Removed

    Place

    The notion of place often refers to the location of a service or business. The geolocation of attractions now makes the best-kept treasures accessible to everyone. However, this practice has consequences for the environment since specific sites, which would otherwise have remained unknown, quickly become very frequent.

    In response to this phenomenon, the OGD of Jackson Hole, Wyoming, launched a campaign urging visitors to geotag their photos responsibly, using generic coordinates of a site rather than the exact location of the image.

    Message by Jackson Hole to Tourists
    Message by Jackson Hole to Tourists

    Similarly, the World Heritage Site of Puerto Princesa, in the Philippines, wanted to limit the number of visitors to specific fragile sites by simply removing them from the tourist cards it produces.

    Product

    The characteristics of the product directly influence the demand for it. Thus, in a marketing strategy, the product will be intentionally made less attractive. In the case of a destination, we can think of managing tourist flows, such as the imposition of quotas or the introduction of limited time slots.

    Bruce Peninsula National Park in Ontario has already implemented this type of measure. Visitors should reserve a four-hour time slot to experience the busiest area of ​​the park.

    Price

    Raising access tariffs is the fourth strategy discussed in this article. This is a practice that the City of Venice is exploring. Postponed several times, one of its projects aims to introduce a fixed tax to all visitors who do not stay at least one night in the city or do not have the Venezia Unica card.

    It should be noted that this type of initiative can be more controversial, particularly in a destination context, particularly natural or heritage sites, since it creates an issue of equity and favours people who can pay.


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    Conclusion

    Demarketing can therefore help manage the growing influx of tourists. However, before arriving there, there is nothing like good territorial planning upstream. Apart from the basic steps, there are various strategies available to adopt for demarketing.

    Demarketing is the exact opposite of marketing. In marketing, advertisements are used to increase the sale of a product. Whereas in demarketing, advertisements are responsible for the reduction in the sale of a particular product. Especially it is applied for the things that are facing a shortage.

    The above article explains the use of demarketing strategies to get some help in the influx of tourists. It is mainly done to protect nature and prevent any harm to localities.

    FAQs

    The concept of demarketing was introduced by?

    The concept was introduced by Phillip Kotler and Sidney Levy in 1971.

    What is meant by demarketing?

    In simple terms, demarketing means trying out different ways to reduce the use of a particular product that is in demand but with minimum supply.

    What are the types of demarketing strategies?

    There are multiple types of demarketing strategies. Some of them are Bait and switch marketing, Price discriminating demarketing, Stock outage demarketing, Differentiation marketing, Crowding cost demarketing, etc.

    What are the four Ps of demarketing strategy?

    The 4Ps of the demarketing strategy are the same as that of the marketing strategy. Place, Promotion, Product, and Price are the 4Ps included in the basic principle of the demarketing Process.

  • How to Start a Travel Agency?

    Starting a travel agency will be so much fun, fulfilling, and most profitable career. The start-up costs are relatively low and there are plenty of opportunities for someone with a passion to sell travel. Starting any business is not easy, but it certainly helps you if you have someone to advise you and give out a path. In the travel industry, there is a huge option to earn also the travel and tourism industry plays a major role in the country’s economic development. This is because people always want or need to go to places.

    There are several resources available today, anyone with a passion for travelling can easily start a travel agency. In this article, we will talk about how you can start a travel agency by following some important steps. So without any further ado, let’s get started.

    Find a Travel Agency Niche
    Choose Your Travel Agency’s Name
    Choose a Business Structure
    Find Some Great Partners
    Build Your Marketplace
    Adapt to Your Target Market
    Promote Your Company

    Find a Travel Agency Niche

    A niche is your friend. When you start a travel agency a niche will help you establish your brand, create your travel agency name, and navigate the world when you get to that point. Starting a travel agency without a niche is like travelling without a smartphone.

    If you can confidently say that you have found a travel niche that you are passionate and knowledgeable about, then you have made a first step on the road to setting up a successful travel agency. You finding your business idea is one of the most important steps in starting a business.

    Total contribution of the Indian tourism industry in billion US dollars

    Choose Your Travel Agency’s Name

    Choosing a company name for any kind of business is a difficult and tricky task, so you need to take some time to do some research to come up with a creative and effective name. The company name ideas that you select for your travel agency should not only be functional, but they should be catchy and noteworthy too.

    When naming your agency, you will want to sit down and give some time to think about your business’s niche; how will you make your travel agency different and how can you set yourself apart? Before you start using the name that you have selected for your travel agency, make sure that it is still available and not already in use by some other company or business.

    Choose a Business Structure

    A base step in your travel agency business is to create a business structure. Let’s start from the ground up. You need to decide what type of business are going to have. Your options include:

    • Sole proprietor – Starting a sole proprietorship is easy. You can use your name and Social Security number to get started. You can use this information to get the permits and licenses that you need to start your business. When you are a sole proprietor, you can decide how you want to run your business. You can choose the job that you want to take. When you are a sole proprietor, you get all of the income that you make.
    • Corporation – As soon as your business becomes a corporation, you gain credibility. People are more likely to work with businesses that are a corporation than those that are not. If you are going to need help financing your business, you may need to start a corporation. When you start a corporation, you can have silent partners, who will help with financing. Corporations can offer benefits for their employees, such as health insurance.
    • Partnership – It is easy to set up a partnership because it is formed with an agreement between the partners. Just like it is easy to get started, it is easy to dissolve a partnership. As long as one partner is ready to stop, the partnership can change or dissolve depending on what everyone wants.
    • Limited Liability Company(LLC) – It is much cheaper to start an LLC than a corporation and it still gives you plenty of the same benefits. If you have a business that has plenty of risks, you may start San LLC to protect your assets. You can control your business, the way you want. Many believe that having an LLC behind your business name can make your business more official. People are more likely to work with you because your business looks more serious.

    Find Some Great Partners

    It makes a great value add for the customer making the booking, and the business involved gets their product in front of a large market. As travels fast in the industry, your travel partners will refer clients to your business once you have earned their trust. In return, you will do the same for them. You need to realise what type of tourism business you want to operate and what your objectives are for setting up the right partnership.

    Your travel partner network needs to be a good fit for your business, and have values that align with your own. For the active participation of all parties within your travel partner network to continue, each must see some direct benefits from the relationship. You never want to end up in a situation where one is doing all the work and another enjoys the benefits.

    Build Your Marketplace

    Nowadays people travel a lot around this world to see the unseen and to know the unknown. As a marketplace owner, you work as a middleman and your marketplace brings lower costs to the customers by letting them purchase directly from the sellers. Travel and tourism startups can only function if they are aware of their marketplace. It is natural to think that the marketplace can get thousands of users. It is the main task of a successful marketplace to facilitate communication between the suppliers and the customers. Understanding the trends that are out there, can allow marketplace owners to decide the best tools and tactics to use for that the company’s objectives.

    Adapt to Your Target Market

    To develop a successful marketing technique you need to define your target audience. This is important for new businesses looking to establish their presence within the market. Analyzing the market is also about researching competitors to-be. Look out for other travel agencies, who their audience are and how they are managing them. Different regions and different suppliers may have varying profit margins. First, you have to know the situation on the market, what deals are presented, and how you are being ranked compared to your competitor travel agencies.

    Promote Your Company

    • Instead of trying to compete with competitors, focus on pointing out the unique benefits of your service.
    • Travellers of all age groups are using social media networks where they talk about travel products, share experiences, or express their preferences. Use images, videos, questions, or statuses to promote and motivate potential clients to follow you.
    • Suggesting additional products on top of a standard package is the most straightforward method of increasing your revenue per customer. Explore and test to find out what your customers want, and use travel agency software to easily track and manage special offers and complementary products.
    • Combine different products into a unique travel experience. Create a package and try to offer a better price by setting a hotel, flight, and activity together.
    • One way to be a successful travel company is to establish your business in a niche market. The travel niche doesn’t need to be complicated or rare – but the more unique it is, the better. Niche travel means you are selling something that no one else sells, and that your product is different in some way.
    • The internet has changed every aspect of life and it has also affected how travellers book trips and how agencies can sell packages. Your customers can book 24/7 because the system receives and processes the reservations automatically.
    • A good way to stay ahead of your competitors is by offering the best possible prices on a worldwide range of high-quality travel plans.
    • Promote your business in Social media, when it comes to travelling, social media is the best option. Apart from that digital marketing strategies can also help you in achieving your goal.

    Conclusion

    While starting your travelling agency, you need to understand what can set your business apart from other travel agencies, and what you can offer that others cannot offer to the clients. If you are still in the planning stage of starting your travel agency, you need to keep in mind and follow all these steps. As everything is opening up once again after a big break because of Covid-19, the travel industry is once again back in action.

    FAQs

    Is tourism a big industry in India?

    Travel and tourism is one of the biggest industries in India.

    How much does the travel industry contribute to the Indian economy?

    The tourism industry contributes over $247 billion to the Indian economy.

    The most popular travel agencies in India are:

    • Cox & Kings
    • Make My Trip
    • Yatra.com
    • Goibibo
    • Travelguru
  • 6 proven startup strategies for entrepreneurs in the hospitality space

    This article is contributed by Sohail Mirchandani, Chief Operating Officer & Co-Founder, Ekostay, a homestay venture.

    Despite the setbacks, the hospitality and tourism industry is only projected to grow by leaps and bounds by the year 2029. For aspiring start-up owners, this is the motivation they were looking for. Because as intimidating it is to launch a start-up, it is even more of a challenge in the post-COVID era – knowing the industry can dip due to factors beyond its control. The journey will be a lot less daunting and more exciting if you know how to navigate the paths beforehand. These six proven startup strategies will help you turn your startup into a lasting success:

    1. Understanding your industry/ sector

    The first step before starting your entrepreneurial journey is to do exhaustive research of the industry or sector your start-up belongs to. For the hospitality space, this involves keeping up with the present and future movements in the local and foreign markets that are shaping it continually. For instance, understanding the growth predictions for hospitality and travel amidst the local and international markets can help you analyze customer demand and scope for penetration in the existing market. Another instance would be the rising demand for staycations and staycation packages post-COVID along with mandatory sanitization and a heightened need for adherence to safety/ cleanliness protocols.

    Also Read: Travel and Tourism Industry Trends in 2021: Post-Pandemic


    2. Learning from your competitors

    A core part of research also involves analyzing what your competitors are up to. Competitors aren’t rivals; they are your inspirators. You can take competitor research as a personal fuel to motivate you to carve your start-up goals and find your niche. Understanding what the major hospitality players are doing, specializing in, and preparing for will give you excellent insight into what the market is missing and how you can fill the gaps in what is lacking. That way, you can even gauge your core demographic and market your unique selling point better. For instance, travelers are on the lookout for luxury-like yet affordable staycations – something which top hoteliers might not be able to offer to meet their financial margins – but a start-up like you could fuse the two and rake huge profits.

    3. Building presence through marketing and social media

    At present, nothing reaches prospective customers more effectively than digital marketing and social media. As a startup, it is crucial to build a strong social media and digital presence to garner the maximum number of customers. Ensure that before you launch your website, you have registered on all the popular social media apps as well like Instagram, Facebook, and Twitter. Once you are operating, you can develop daily or weekly posts that engage with your key demographic. Make sure to grow your reach organically and resort to paid adverts rarely. Not many users appreciate being bombarded with or shown sponsored posts.

    4. Listening to your customers

    Listening to what your core clientele wants is a marker of trustworthiness and reliability – two qualities that you must establish as a start-up. For your startup venture to be a success, people need to know that you are listening to them and coming up with ways to serve their needs. One of the best ways you can tap into your customer’s mind is through social media. Social media applications enable customers to reach you directly and engage with them in numerous ways – including chat, email, call, direct message (DM), tags, and comments. So, if there is any negative feedback or complaint, use it as constructive criticism to change/ upgrade to what works best for the customer. Acknowledging this feedbacks will also make you adaptable and establish your business/ company as a people-first organization.


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    5. Being ready to adapt

    Reiterating on the point above, being ready to adapt is one of the most vital essentials of transforming from a hopeful startup to a successful large-scale venture. The world we live in today is hyperdynamic and constantly evolving. Just last year, no one would have predicted how the coronavirus would take our world by storm. And while the hospitality sector took one of the biggest hits, it still found a way to get back on its feet and adapt to people’s changing needs. So, if you cling on too tight to your old ways, you run the risk of becoming inflexible and losing out on revenue/ profits in the long run.

    6. Re-investing any money earned into the start-up

    Those who save a penny today earn a penny later. Saving whatever income you earn from your start-up helps you stay prepared against emergencies that require your immediate attention. Resist the urge to spend away from your earnings or profits on your personal desires at least for a few years from your launch. Re-invest that money into your startup and see the scope of returns multiply within the next few years. Focus on the aspects of the business that need financial assistance and improvement. Sow to reap more and grow beyond expected margins.


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    To Conclude –

    The hospitality industry is an exciting space, especially for spirited entrepreneurs. Before COVID-19 hit, the hospitality space was thriving and ever agile. It is no secret then that the impact of COVID-19 left several leading players, let alone young start-up owners struggling to stay afloat. However, with almost everyone vaccinated and the resumption of local and international travel, the hospitality sector is seeing a bigger, better, and wiser revival. Now is the perfect time to strap on your entrepreneurial gear and kick-start (forgive the pun) your start-up journey with these six proven-to-work strategies!

  • Travel and Tourism Industry Trends in 2021: Post-Pandemic

    Covid-19 has completely disrupted the Travel and Tourism Industry at both the national and international levels. With the worldwide lockdown and the heavy travel restrictions, the industry has lost not only domestic and international tourists but also local visitors. According to the United Nations World Tourism Organization (UNWTO), International tourism has witnessed a loss of $1.3 trillion in 2020 while the Indian tourism industry saw a revenue loss of ₹1.25 trillion, as per the CARE Rating study.

    The pandemic has impacted all divisions of the tourism industry such as inbound, outbound, corporate, MICE, adventure, and leisure and will continue to underperform for the next two quarters. Tourism will account for 9.9% of the country’s GDP by the end of this decade with the help of Government initiatives.

    The losses to the Indian Tourism Industry in 2020 have been huge but 2021 shows the revival of travel with the rise in vaccination. Significant changes were observed in traveling like more emphasis given to safety, cleanliness, and hygiene. The states that are getting the maximum tourists are Himachal Pradesh, Uttarakhand, Rajasthan, Goa, and Kerala.

    Also Read: List of Top Travel Startups in India (2021)

    Travel and Tourism Trends
    Travel and Tourism Industry in India

    Post-Covid scenario in the Travel Industry
    Growth of Domestic Tourism in 2021
    Travel Industry Trends in 2021
    Recommendation to get Travel Industry on Track
    FAQs on Travel & Tourism Industry

    Post-Covid scenario in the Travel Industry

    Ever since the Covid-19 Pandemic had arrived, the tourism industry started evolving and changing ways in order to suit the needs of travelers. With the reduction in Covid cases in India, the Central and State Governments of the respective states have issued many standards and basic operating procedures in order to resume services. Major protocols are being taken as the security scan at the entrances of various locations like hotels and airlines involving thermal screening and sanitization and the staff is even extra cautious than before.

    The Post-Covid Scenario of Tourism Industry

    Many countries around the world are catching up with innovative solutions and activities to boost their country’s travel industry. Some of them include safe travel bubbles, SG Clean, Qatar Clean initiatives. Many travel agencies are now providing incentives, offers, and discounts to get people to travel. Understanding the solutions and practices being followed in different countries will help India in implementing the right strategies for the survival and revival of its tourism industry.

    Many services have turned contactless and are following all major protocols of safety and social distancing. Simpler activities like live cooking, disposable cutlery, online food delivery services, and digital menus aids in the growth of the industry. The hotel, restaurants and resorts are following strict SOPs for Covid-19 to create a protective environment. The government is also providing relaxation against free loans, provident fund relief, and GST.


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    The Growth of Domestic Tourism

    The relaxation in the lockdown along with the gradual lifting of travel restrictions shows constant opening and closing of travel make tourists feel uncomfortable to travel internationally. But 2021 saw an increase in domestic tourism, while foreign tourism is expected to remain low until the situation improves. One of the main reasons for the future boom in the domestic sector is that travelers in 2021 prefer to explore their own country and go on short weekend trips.

    Sectors of tourism affected by covid-19
    Here’s a look at the most affected sectors of tourism due to pandemic

    Hence, increases the sightseeing of remote destinations and helps the locals to get their livelihood back. This, in turn, boosts the local economy, creates more jobs, and helps the hotels and restaurants of the region, promotes local art handicrafts and culture. With more importance given to safety and social distancing, tourists think that it is safer to travel shorter distances than compared to the longer ones. This is why many people are opting for short road trips to unknown destinations with less crowd.

    The domestic vacation is now on top of the traveler’s bucket list for 2021. Just the first week of January 2021 saw 70% of users booking for future domestic trips on Tripadvisor. In the US, over 74% of travelers preferred to go on an overnight domestic leisure trip in 2021, and over 34% are planning domestic trips, which is quite high as compared to other countries like Australia (31%) and UK (24%).

    So let’s take a look at the 2021 travel industry’s trends that are likely to show up in the future.

    Workation Trips to Increase

    Work plus vacation or business plus travel is not a new concept that has arrived in 2021. But the business travelers are said to be rising in 2021 because many companies are opting to work from anywhere culture. This is why they have come up with brilliant travel plans that will help employees work along with leisure. Employees also have the option to bring their family members. The concept of business travel is getting popular as people have started to realize that all people need is electricity and a good internet connection to work.

    Workation Trips | New trend
    Work plus vacation has become a latest trend now

    Road Trips are the New Trend

    With many restrictions and travel bans, people have started opting for short road trips. Many tourists have started avoiding public transport like buses, trains or even airlines. Instead, they plan to go on road trips in their own vehicles or rent a car, as it is a safer option. Road trips are popular among tourists of all age groups and families. In addition to that, it reduces the travel expenses and vast options of destination to choose from.

    Road Trips is a new travel trend
    Road Trips, a budget-friendly option for travelers to travel around the city 

    Promotion of Sustainable/Eco-Friendly Tourism

    The pandemic has made people realize the importance of implementing sustainable ways of traveling. The tourist now is looking out for eco-tourism to get in touch with nature. In 2021, tourist focuses on responsible travel to remote locations or natural areas in order to experience the local culture and contribute towards the sustainable growth of environment. Tourists have become more conscious nowadays and are accepting more eco-friendly methods to reduce their carbon footprint.

    Sustainable Tourism in 2021
    Sustainable Tourism has become traveler’s best choice for embracing the nature

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    Research Before Travel

    Travelers are keen on researching more before making any travel plans. With Covid-19, it’s no surprise that people are more conscious to travel. According to a survey, more than 74% of the global tourist population say that they will spend more time researching everything about their destination. People are spending more time in reading reviews or checking for better accommodations before planning any itinerary.

    Post-vaccinations Impact on Travel

    With the rise in vaccination drive, the travel industry has started blooming. People have started planning their trips as they’re excited to finally be able to travel carefree. The new travel protocols, however, will include compliances for travelers including Immunity passports for tourists to provide proof that the tourists are vaccinated for the virus. More than 77% of global travelers likely to agree to travel internationally only after getting vaccinated.

    Why Travelling Will Never Be The Same

    Solo Travel is the Way

    Solo travel or even backpacking has grown exponentially with the pandemic. Co-living is also another new trend related to solo traveling. It is when solo travelers are looking to save money and time by getting out of their comfort zone and meeting other solo travelers while traveling. Solo travelers involves themselves in activities that includes social distancing.

    Solo Travel
    Solo Travel has become a new travel industry trend

    Safety and Cleanliness are the Priority

    Safety and cleanliness have become priority for travelers across the globe since Covid. And the travel industry is already implementing major guidelines and protocols including PCR tests on arrival, mandatory masks, sanitation, and frequent cleaning in different sectors like hotels, airports, restaurants, etc. to provide a safe environment.


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    Recommendation to get Travel Industry on Track

    Many experts in the field have given their recommendations on how to get the industry back on track. Some of them include:

    • Airlines, hotels, restaurants, and other tourist operators can adopt greener and eco-friendly solutions in order to increase their business while being sustainable.
    • The industry must encourage renewable energy and green project to help the environment.
    • The government must try helping the industry with interest-free loans for up to 5 years which makes it sustainable.
    • Implement compulsory masks everywhere and basic social distancing laws and regulations.
    • Promote lesser-known tourist destinations of India.
    • Make it easier for the tourist sectors to get licenses, permits, and renewal.
    • Reduction of GST rates in the travel and hospitality sector.

    FAQs on Travel & Tourism Industry

    The top travel industry trends in 2021 are:

    • Workation Trips to Increase
    • Road Trips are the New Trend
    • Promotion of Sustainable/Eco-Friendly Tourism
    • Research Before Travel
    • Post-vaccinations Impact on Travel
    • Solo Travel is the Way
    • Safety and Cleanliness are the Priority

    Which one sector is going to see a rise in tourism in 2021?

    2020 has completely disrupted the travel industry but 2021 is showing the revival of travel. The tourism sector will be very different than what it was before. The domestic sector is witnessing a surge as people are avoiding foreign travel and the situation is going to remain the same till the pandemic is over.

    What are the SOPs followed by the tourism industry in India?

    The SOPs followed by the tourism industry in India are security scans at the entrances of various locations like hotels and airlines involving thermal screening, wearing masks, sanitization, and social distancing.

    What is the fastest-growing trend in the travel industry?

    Eco-friendly/Sustainable tourism is one of the fastest-growing trends in the travel industry.

    Is the travel industry growing?

    The travel industry will slowly and gradually see a surge in the traveler once the pandemic is over. Currently, domestic tourism is growing at a slower pace. The reason being, people are feeling bored to remain at one place and therefore planning short trips.

  • Why Carnival, the biggest Cruise company, facing shortage of ships to deliver?

    The tourism and hospitality industry were the most affected during the Coronavirus pandemic and is still said to have been reviving from it. Some of the 5-star hotels have been shut down as they did not have the revenue to pay the employees.

    Carnival which is the world’s biggest cruise company has reported that their demand has been increasing. The company had sold around 19 ships during the pandemic and reduced its capacity to 13%. But now the company is planning to buy back the ship and increase it by around 2.5%. In this article let’s look at the reason for the increase in demand.

    Carnival – Latest News
    Reason Why demand for Ships Increased
    Carnival CEO on the Rising Demand of Cruise bookings
    Carnival CEO on Covid Precautions
    Carnival CEO on Unvaccinated Passengers
    Carnival Company’s new Cruise launch
    FAQ

    Carnival – Latest News

    Carnival is the world’s biggest cruise company. The CEO of Carnival has conveyed that there is a huge demand for travel and the number of strips is outnumbered by the demand. The CEO of Carnival Corp has stated that the demand across its 9 cruise lines is rapidly increasing and added that the Americans are enthusiastic and eager to get back on the water.

    Arnold Donald, the CEO of the world’s biggest cruise company has said that people are impatiently waiting to get back to cruise again. He added that the company has no issues in being able to fill the ships. People are ready to sail but the fact is that the company has far more demand compared to the ships that they have available right now to supply.

    Reason Why demand for Ships Increased

    The CEO has stated that the people are confident about the safety measures taken by cruises and even the vaccine roll out is being continued in the United States. The vaccine shots have acted as a huge game changer and according to Arnold Donald, the bookings were vigorous and the most highest in the history of the company.

    People are ready and are spending a lot of money on board. Travelers are eager to spend their money on extra cash items such as Casinos, luxury meals, massages, etc.

    Carnival CEO on the Rising Demand of Cruise bookings

    Arnold Donald has said that during the second quarter of the company’s business update that was held on 24 June 2021, the company has conveyed that the booking volume of the cruises in the future was higher than the 1st quarter of up to more than 45%. He stated that the advance bookings for 2022 were way higher than 2019 due to the increased demand amongst the people.

    Revenue of Carnival Corporation & plc worldwide
    Revenue of Carnival Corporation & plc worldwide

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    Carnival CEO on Covid Precautions

    While speaking about the Covid precautions taken on board the CEO of Carnival Corp has conveyed that some of the cruise lines of Carnival including Costa, have been sailing out of Europe during the Pandemic.

    He added that most of the travelers were unvaccinated but the company had ensured that it took necessary precautions and followed the basic SOPs such as social distancing, wearing masks, periodical Covid tests and intense medical screenings.

    The CEO added that the guest satisfaction scores were flying high as there were less than 50 cases of Covid positive reported out of around 400,000 guests that were onboard.

    The company is expecting some unvaccinated people to be on board from the United States and also adds that these passengers and Travelers will have to take the necessary Covid measures which include wearing masks and periodic Covid tests.

    Carnival CEO on Unvaccinated Passengers

    The world’s biggest cruise and also the celebrity cruise had laid down new regulations that were subjected for the unvaccinated passengers. The passengers or travelers that haven’t taken the vaccination or did not want to show the proof of vaccination intake will have to go through certain onboard restrictions, additional costs and Covid tests. However, the company has conveyed that the passengers who are fully vaccinated would prevent from the risk of spreading the Covid-19.

    The CEO conveyed that if the virus is on board, then there are chances that the passengers would catch it even though the company has put a lot of restrictions. However, he clarified it by adding that they can’t guarantee on not being a single case on board but the chances of an outbreak seem to be really low.

    A fully vaccinated cruise, Royal Caribbean cruise that was sailing from the Bahamas has tested two positive cases of Covid-19 from two of the passengers on board. Both the passengers were under the age of 16 and were exempted from the vaccine mandate.


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    Carnival Company’s new Cruise launch

    The company has a launched a new cruise which is the latest cruise. The cruise would set its sail on 31 July 2021 from Port Canaveral to Easter and the Western Caribbean. The cruise is the first in the world to have a roller-coaster on board and also the first cruise in the Northern America to be run on a liquefied natural gas.

    Conclusion

    The company is expected to sailing at least 52% of its capacity by the end of November and is expecting to have its entire fleet into operation by the spring of 2022.

    FAQ

    Has Carnival Cancelled any cruises?

    Carnival Cruise Line cancelled some of its July 2021 cruises, but it will still sail some ships from the U.S. in July.

    What is the Revenue of Carnival cruise?

    The revenue of Carnival Cruise in 2020 was 559.5 crores USD.

    What is Carnival Cruise net worth?

    The net worth of Carnival in 2020 was US$−10.236 billion, as due to Covid restrictions the company faced a huge loss.

  • 5 Fast-Growing Businesses You Should Invest In

    Entrepreneurs and people looking to invest in businesses have never had it better than they do today. Businesses nowadays, are not only claiming a niche for themselves, solving numerous user problems and ushering in the future of the modern era, but they are also attracting huge wealth. Stock markets are expanding each day and the values of the shares of the companies are ever-expanding, setting new records with each passing day. Such investments are all coming from venture capitalists (VCs), angel investors, and other startup enthusiasts or businessmen.

    Though investing in growing businesses can seem to be a shortcut to making a huge amount of wealth in a short time without much brainstorming, it is not exactly what it looks like. Churning out a good amount of money by investing in startups and businesses is a tough nut to crack even for the investing giants, who also incur huge losses in the process. However, there are processes to follow, much experience to gather, and a good amount of knowledge to grasp, which will lead you towards becoming one with the successful investors.

    Yes, if you’re planning to jump on this bandwagon and grow your money with short-term investments in a business, now is the time. However, the first step is to decide which industry you should invest in.

    To start with this process, here we’ve put together a list of the fastest-growing sectors to help you with this decision of investment.

    Here are the top 5 industries that are currently growing at a quick pace in India:

    Food Industry

    With continuously higher annual contributions to the international food trade, this is one of the fast-growing businesses, which makes it a good bet for investors and business people alike.

    The food market and its survival is essential for mankind. Besides, the latest trends that are fuelled by the research and development in the market are making foods healthier and more appetising than ever. Food choices are increasing and conveniences to procure food are decreasing, and all of that is happening due to the ever-increasing potential of the food market. The revenue in the food market of the US amounts to $8.77 tn in 2022. Food market is growing all across the globe really. Even in India, we see a huge rise of food and foodtech startups that are innovating the purchase and delivery of food products. From food processing giants like Nestle, Parle, Britannia, Amul, and Haldiram’s, to food delivery startups like Zomato, Swiggy, to the new-age meat startups like Licious and TenderCuts, vegan foods and plant-based meat startups, everyone is contributing largely to the food industry of the country and exploring new possibilities for themselves and their investors to grow.    

    Restaurants and food delivery businesses throughout the nation are seeing rapid growth as well. Consumers in the country are also spending far more on specialty gourmet and healthy foods than they did in the past, which makes food retail an attractive option. This sector offers an unlimited potential for high profits and ROI, particularly in segments such as food processing, packaging, and value addition. The Indian gourmet food market has been valued at $1.3 bn, which is growing at a CAGR of 20%.


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    Food Industry
    Food Industry-

    Tourism Industry

    India offers an endless variety of attractions for both foreign and domestic tourists, from historic monuments to lush natural reserves, quiet hill stations to bustling markets, and more. In recent years, the tourism sector has picked up tremendously and is one of the fast-growing businesses, especially with a rise in disposable income among young professionals. Rather than heading to international locations for vacation, Indians are spending more time and money exploring different parts of the country. This makes the tourism and hospitality industry a great choice for investors.

    The travel and tourism industry’s contribution to the overall GDP of the nation was estimated at $121.9 bn in 2020. This will further rise, according to the latest reports, and would reportedly be reaching nearly $512 bn by 2028. MakeMyTrip, Yatra, Goibibo, EaseMyTrip, ClearTrip, and more such players are widening opportunities for the Indians to travel at their ease anywhere they want.  


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    Healthcare Industry

    Along with an increase in the average life expectancy and income levels, growing awareness about health and wellness has contributed to the rapid growth of India’s healthcare sector. This has also brought the medical sector into the category of fast-growing businesses.

    In addition to the evolution of hospitals, clinics, and healthcare centers, research and development have significantly increased in segments like medicines, their delivery, alternative therapy, health insurance, medical devices, and infrastructure, and more. Don’t forget that India is also a leading medical tourism destination, with people from around the world heading here for dental treatment, cosmetic surgery, and other healthcare aids.

    Looking at the growth of the healthcare sector in India, while the hospital industry in India is growing at a CAGR of 16-17% and will soon reach $132.84 bn, the pharmaceutical sector of India is worth $42 bn, courtesy of the pharmaceutical giants operating in India. The pharmaceutical sector of India is positioned 3rd in terms of volume and enjoys the 13th place in terms of value as per the recent surveys.

    This growing healthcare sector is now flooded with numerous startups like 1Mg, HealthKart, mFine, Netmeds, Practo, PharmEasy, MediBuddy, HealthifyMe and more, which are strengthening healthcare across various segments and beefing up its offerings.  

    Healthcare Sector
    Healthcare Sector in India-

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    Retail Sector

    The retail sector in India has seen immense changes and growth in the last few years, especially after the emergence of the e-commerce and online shopping space. With the world’s second-largest middle class that also has a high disposable income, competitive pricing, and rapid digitalization of the retail space, India currently ranks 5th on the list of global retail destinations. From small-scale startups to well-established giants, the retail industry offers something for every investor so much so that the would-be entrepreneurs are also practically spoilt for choice in this industry!

    Though the retail market was identified as a largely unorganised sector earlier, it is fast bringing an organised structure in place. The organised portion of the retail sector is now more than 50% of the industry, and this growth has manifested in just teh period between 2012-present. The modern retail industry is now expected to grow at a CAGR of 15% and will even estimated to increase to 18% by the end of 2025.

    So, if you are looking for investment in the fast-growing businesses of now, then the retail industry is definitely one of them. Besides, with the retail giants like the Tata Group, Reliance Group, Aditya Birla Group, D-Mart and more, and the growing talks of superapps like TataNeu and that of the ONDC and how it will change the retail sector, the retail industry is definitely a dream pick for the investors.

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    Retail Sector in India
    Retail Sector in India

    Personal Care

    The range of products and services offered by India’s personal care industry has undergone tremendous changes over the years. Today, almost everyone is willing to spend more money on a variety of organic, handmade, and natural alternatives for their daily use. These include soaps, shampoos, makeup, hair styling products, and intimate hygiene solutions.

    The beauty and personal care market in India has been estimated at $24.53 bn in 2022, and is expected to scale to $33.33 bn by 2027, the growth of which is estimated at 6.32%.  

    Selling through online portals surely opened up more opportunities for small business owners and the larger ones. Besides, quality beauty and personal care brands and their products are made available easily online by the D2C beauty and personal care brands like Nykaa, Plum, Tattva, Mamaearth, Wow Skin Science, Purplle, and more. Also, the personal care giants like ITC, HUL, Dabur, Godrej and its subsidiaries, Colgate, etc., are always renovating their products and revisiting their quality and effectiveness to give the startups a fight. Moreover, scopes are always increasing in wedding planning, tattoos, and piercings, spas, massage therapy, and other related sectors.

    If you’re seeking funds to launch your dream business, grow your existing business or take advantage of a time-bound investment opportunity with high returns, consider using a personal loan. An unsecured loan or personal line of credit can be repaid over time, which makes sense if returns from your investment will be higher than the loan interest!


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    FAQs

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    What is the role of the food industry?

    The role of the manufacturing food industry in relation to the provision of foods for the weanling encompasses 4 main objectives viz. customer satisfaction, safety, providing product information, and the maintenance of commercial viability.

    What is the meaning of the tourism industry?

    In its broadest sense, the tourism industry is the total of all businesses that directly provide goods or services to facilitate business, pleasure, and leisure activities away from the home environment.

  • Detail Analysis: Effects on Tourism Industry Due To COVID-19

    Tourism has entered into a great crisis due to the worldwide panic of the Corona Virus pandemic. Till this moment of time its duration and scope still unknown which is creating a great destruction in the economy of the most of the countries. This has also lead to the stock market crash continued for a week to all the giants of the sector in different countries. One of the point which comes in the mind of most of the people is the impact of the COVID-19 Corona Virus on world tourism. This is one of the unanswerable question for us, and the authorities’ forecasts are based on previous experiences with similar crises such as that of H1N1 and SARS and many other dreadful diseases. Let us discuss the impact of COVID-19 corona virus on the tourism industry of different countries.

    Effect on Tourism Industry of different countries.

    Effect on Tourism Industry of different countries.
    Effect on Tourism Industry of different countries.

    Let us first check the contribution of tourism industry in the GDP of the top countries.

    • United States ($488 billion)
    • India ($230 billion)
    • China ($224 billion)
    • Germany ($130.8 billion)
    • United Kingdom ($103.7 billion)
    • France ($89.2 billion)
    • Italy ($76.3 billion)
    • Spain ($68.8 billion)
    • Brazil ($56.3 billion)

    Most of the countries in this list are the one having the beat medical facilities in the world. They are having a huge GDP and this is all possible due to the big contribution of tourism industry in their country. There is a drastic effects on Tourism Industry due to COVID-19. We can calculate from this stats that many of the people will be going to refuse or going to reschedule their plan of vacations due to this pandemic in these countries, which are adversely affected.

    China was the first country to suffer from this dreadful pandemic and so China’s tourism industry will be most affected due to the virus. The Chinese tourism industry represents 11% of their GDP and even growing in the last few years, will be going to get worst affected even after many years of this pandemic.


    Also Read: How Startups are Building Products to fight COVID-19?


    In 2020, Italy is expected to see a decrease of roughly 28.5 million tourist arrivals due to the impact of (COVID-19) coronavirus pandemic on the country’s tourist sector the GDP of the whole country. Same situation will also be there in Spain for few, till this situation gets controlled by us. According to the estimate, some of the parts of Italy like the region of Veneto can record the highest drop with a decrease of roughly 4.61 million arrivals due to this pandemic. Similarly, Lombardy is expected to register a decrease of about 3.87 million arrivals in 2020 which can change the future of the whole country.

    Effect on Tourism Industry and other businesses connected with it

    Effect on Tourism Industry and other businesses connected with it.
    Effect on Tourism Industry and other businesses connected with it.

    There are many other businesses which are drastically effected by Tourism Industry due to COVID-19.The tourism industry is connected with many other businesses like Hotels, airlines, and cruise operators which are also going to suffer. The pandemic has outbreak during the Lunar New Year which is one of the busiest travel seasons in Asia- the largest continent and thus a bigger source of investment in tourism industry.


    Also Read: Flight Rates Drop due to Coronavirus Outbreak


    The impact of the Corona Virus can be seen on different companies working in this sector only either directly or indirectly but are facing the global cancellations of trips, public events, temporary employment adjustments, and falls in income.

    As a result of (COVID-19) coronavirus pandemic, it I predicted by most of the market leaders that the global travel and tourism market is going to see a loss of 75.2 million jobs worldwide in 2020 due to almost no business in this sector. The region that is supposed to see the biggest loss from COVID-19 is the Asia Pacific region which can see a lose of approximately 48.7 million jobs, while European countries is forecast to be the second hardest hit with a forecasted employment drop of 10.1 million due to this pandemic.