Leading global commercial real estate and investment management company, JLL has identified the city of destiny, Visakhapatnam as a prime tourist destination.
In a recent research report released titled Unlocking Visakhapatnam’s Tourism Sector it noted that the city attracts visitors from across the nation due to its diverse offerings such as myriad of beaches, pilgrimage sites, recreational parks, valleys, and heritage sites.
‘The noteworthy aspect of Visakhapatnam region is its exceptional cleanliness and effective civil administration, which caters to the needs of both tourists and the local community’ said JLL’s research report on Vizag.
As per JLL in 2023, Visakhapatnam region contributed approximately 24% (about 61 million tourists) to Andhra Pradesh’s total tourist inflow. “Visakhapatnam is poised to become a powerhouse in India’s tourism sector” opined Mr Jerry Kingsley, India Head, Strategic Consulting, Value and Risk Advisory & City Lead Capital Markets- Chennai speaking to Vizag Industrial Scan.
Elaborating further he noted that the area offers a wide array of attractions including beaches like Ramakrishna Beach and Rushikonda Beach, historical sites such as Buddhist complexes, natural wonders like Araku Valley and Borra Caves, and religious centers like the Simhachalam Temple.
‘With these diverse offerings the region has witnessed a remarkable surge in visitors, according to various sources, attracting over 61 million tourists in 2023 alone’ said Mr Jerry.
In addition, he pointed out to the upcoming Bhogapuram International Airport which is set to handle 6 million passengers annually by 2025, coupled with significant investments in hospitality and adventure tourism.
“At JLL, we anticipate substantial growth opportunities for investors and developers in the hospitality, eco-tourism, and entertainment sectors, further cementing the region’s position as a key driver of economic development in Andhra Pradesh” stated Mr Jerry.
He also hailed the governments efforts in boosting tourism and allied activities and said that significant investments are being made in transportation, including the upcoming Bhogapuram International Airport and a new cruise terminal, which are expected to boost tourism.
The hospitality sector is also expanding to meet growing demand. Several major hotel chains have announced plans to open new properties in the region.
