TeamLease Services, a leading staffing conglomerate in India, has unveiled its latest ‘TeamLease Employment Outlook Report‘ for the second half of fiscal year 2024 (October 2023 to March 2024), with a specific focus on the thriving trends within the Travel and hospitality sector.
Despite the challenging circumstances in H2 FY24, the travel and hospitality sector emerges as a beacon of growth, displaying robust hiring trends. The report indicates a substantial 68 per cent Incremental Workforce Expansion in the second half of the fiscal year, signalling a promising trajectory for the sector.
Analysing the travel and hospitality industry on a city-wise basis reveals a landscape of growth with a strategic distribution of hiring. Mumbai leads the pack with an impressive 13.3 per cent Incremental Workforce Expansion, emphasising its pivotal role as a growth hub for the industry. Other major cities such as Ahmedabad and Chandigarh contribute significantly with 11.1 per cent, showcasing a well-balanced approach to talent acquisition.
The demand for specific roles in the sector sheds light on Human Resources (HR) leading the industry, underscoring the importance of building a competent workforce. IT, Engineering, Office Services, and blue-collar professions also make substantial contributions, reflecting the industry’s commitment to fostering hiring while fortifying and streamlining critical operations for long-term success.
Mastercard’s aggregated and anonymised data shed light on the significant contributions made by the accommodation and food industries, with cricket enthusiasts from around the world converging to support their favorite teams. The multiplier effect of the ICC World Cup on India’s economy underscores the broader impact of sporting and cultural events on both national and local economic landscapes.
Balasubramanian A, VP & Business Head of TeamLease Services, commented on the report, stating, “The Indian hospitality and tourism industry has witnessed robust growth in 2023 predominantly due to heightened domestic travel. This will create a positive effect on not only the hospitality industry but also adjacent industries such as travel, aviation, ticket purchasing, and travel guides in terms of expanding their workforces. India’s hosting of the Cricket World Cup this year has played a big role in boosting the demand for workers in this segment. Our report highlights that a substantial 68 per cent of employers are interested in incremental workforce expansion, indicating growth opportunities. Mumbai remains pivotal, while cities like Chandigarh and Delhi consistently commit to talent acquisition. Roles in Human Resources, IT, Engineering, and Office Services take focus, reflecting a strategic talent acquisition approach for sustained sectoral success.”
