Say you want to tour the beautiful state of Telangana. You book flight tickets to the capital, Hyderabad, and then look forhotels near Hyderabad airport for your stay. Once there, you travel to heritage sites, visit the occasional shopping mall and enjoy the state’s cuisine at local restaurants. Resources like travel accommodations, malls and restaurants are commercial real estate assets that are crucial to the travel and tourism industry.
Real estate has always been one of the metrics for measuring the economic growth of a country. When a real estate resource is built, it brings with it a slew of jobs and alternate revenue sources. Peripheral assets like roads, transportation and other infrastructure also get set up in the process.
When the economy of a nation or a state is booming, it creates large-scale tourism resources like shopping malls or entertainment zones that add to the travel and tourism experience. Take, for example, airports all around the world are now integrating retail and entertainment elements to create a holistic travel experience. Large shopping malls, theme parks and film cities are also a great pull for tourists and locals alike. Such leisure and entertainment facilities become very compelling incentives for travel and tourism.
GMR AeroCity Hyderabad is an ecosystem built around an international airport with lifestyle amenities and various commercial real estate ports for offices, industries, hospitality, education, healthcare, retail and entertainment. Here’s how AeroCity is contributing to Hyderabad tourism:
As unlikely as it seems, even commercial real estate has a connection to travel and tourism. From shopping malls and theme parks to hotels and arenas, real estate and tourism mutually influence each other. So, the better the real estate resources, the better the tourist experience!