Goa, a coastal retreat, is India’s one of the most preferred beach locations. The state, with its Portuguese and colonial history, beautiful beaches, and unique experiences continues to attract domestic and foreign tourists.
The state's tourism industry, bolstered by government policies and improved connectivity, has fueled the growth of hotels and resorts. Since past 5-6 years, there has also been a significant surge in the vacation rental home segment.
In the coming 3 to 5 years, North Goa is expected to witness increased activity– in both hospitality projects and vacation rental home projects. Lack of availability of large beach facing land parcels will also lead to emergence of beach locations in the adjacent taluk of Sindhudurg in Maharashtra.
Increasing land values and travel costs, development restrictions, infrastructure issues, and over-tourism are a few issues that the state has been grappling with. It will be interesting to see how the state addresses these issues and competes with some of the counter parts in South East Asia.
This article will help property owners, hotel operators and other stakeholders involved in Hospitality sector to understand the latest trends & investment opportunities in Goa.
