The Hindu Business Line : Tourism dept planning to tap diaspora for FDI

CONSIDERED one of the must-see destinations on the planet, Kerala is now in the process of transforming itself into a destination that will attract both tourists and investors.

The Global Investors' Meet (GIM), to be held in Kochi on January 18 and 19, is intended to do just that - get people to view Kerala as a place to invest in, especially in the tourism sector, according to Mr T. Balakrishnan, Tourism Secretary.

Prominent among the investment avenues to be showcased at the GIM is a portfolio of tourism-related projects.

However, the focus of the tourism department at the GIM is not merely on generating interest in Government-sponsored projects but in attracting interest and investment in tourism initiatives in the private sector, he said.

The tourism authorities also hope that the meet will serve as a venue for forging partnerships that will take aspects of Kerala - cuisine, ayurveda and other products - to a much larger audience abroad.

"The success of the GIM will be judged by the number of partnerships we are able to create."

Mr Balakrishnan said that the Kerala Travel Mart, organised a few months back, has served as a useful curtain raiser to the GIM.

"The travel mart would have helped potential investors in the tourism sector form a better assessment of the possibilities in the State."

According to him, some of those who participated in the travel mart have promised to come for the GIM.

While the projects at the GIM are intended to appeal to all potential investors, including people from within the State, the effort is to attract investments from the Malayalee diaspora, especially those in West Asia.

"We have worked closely with the organisers of the GIM on this," he said.

The tourism department will make its presentation to potential investors on January 19.

One-to-one meetings with officials and interactions with tourism entrepreneurs from the State will follow the formal presentation.

The tourism projects at the GIM are expected to attract an investment of Rs 500-1,000 crore. Among the projects on offer is a proposal to co-develop a beach resort at Bekal in north Kerala.

Similarly, the tourism department is also looking at attracting investment in the development of a greenfield airport at Kannur.

With Bekal set to evolve into a mega tourist destination, an airport at Kannur may soon become a necessity given its proximity to Bekal, Mr Balakrishnan said.

The Government has already done the spadework for this project, including the preparation of a detailed project proposal.

Another important investment opportunity is the development of a health tourism project at Vagamon in Idukki.

The Gandhivanam eco-tourism project in Alappuzha, to be developed in association with the State forest department, is another project in which investment is being invited.

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