“Riding on the back of economic growth due to recovery in the global conditions, resulting in higher movement in the meetings, incentives, conferences and exhibitions (MICE) segment, and the consistently growing middle class having increasingly disposable incomes and a fondness for travel, the hotel industry is expected to post a robust growth of 7%-9% in FY18-19. Another driving force for growth is India’s attractiveness as a medical tourism destination. “The Indian hospitality industry has emerged as one of the key industries driving the growth of the services sector and, thereby, the Indian economy,” says a report by CARE Ratings.
Continuing its growth trajectory on talent demand tally for the third consecutive month in Feb 2019, Travel & Hospitality sector posted highest talent demand as per the TimesJobs RecruiteX February 2019 report. This sector has witnessed an uptick in the talent demand since Dec 2018. In fact, among these three months, it posted the highest growth in talent demand in Jan 2019.
TimesJobsRecruiteX monthly hiring report cited that Travel & Hospitality saw a 13% Y-o-Y growth in Feb 2019, as compared to Feb 2018. While the overall Y-O-Y talent demand growth stood at 12% (Feb 2018 overall v/s Feb 2019).
These revelations are a positive reflection for India’s employment scenario which is typically dominated by the IT, Retail, BFSI, and E-commerce sectors. The fact that Travel & Hospitality has been posting steady growth in talent demand – even when the high-volume sectors are going sluggish on hiring – hints about the overall sector growth.
The functional area-wise analysis also revealed that Hospitality and related roles recorded 28% growth in Feb 2019 in comparison to Jan 2019. This comes as good news for India Inc. which is struggling on the employment generation front.
Other findings from TimesJobs RecruiteX Feb 2019 edition (M-o-M analysis) are:
Top three hiring industries:
- Travel & Hospitality
- Logistics & Warehousing
- Recruitment/Placement Agencies
Top three functional areas in terms of hiring:
- Front Office/ Administration
Top three hiring locations:
- Bengaluru (among metro cities)
Top three profiles, job experience-wise:
- Freshers and professionals with 2 years or less work experience
- People with experience from 10-20 years
- Senior professionals with more than 20 years of work experience
Commenting on the findings of TimesJobs RecruiteX February 2019 edition, Ramathreya Krishnamurthi, Business Head, TimesJobs and TechGig said, “Typically IT, Retail, BFSI, and E-commerce are the big four employment generators in India. Most conversations about employment generation are focussed around these sectors. However, other sectors too are contributing to India’s economic growth. The Travel & Hospitality sector is a shining example here. This sector has been steadily hiring for the last three months and we hope that this growth story will continue in the coming months as well”.
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