The Shift from Tourism to Real Estate: Goa's New Reality
Goa's tourism industry is witnessing a paradigm shift, with tourists now eager to buy properties in the state. This new form of tourism, known as residential tourism, is changing the face of Goa's real estate market.
GoaReal EstateTourismResidential TourismIndiaReal EstateSep 26, 2024
This new form of tourism, where people buy properties in popular tourism destinations for temporary or permanent residences, is not entirely new. However, Goa seems to be one of the destinations that is making this shift without realizing it. A scan of online advertisements for real estate in Goa reveals numerous promotions offering land, apartments, and villas in the state, all aimed at buyers from outside the state.
These advertisements promise a return on investment, making it an attractive option for those looking to invest in real estate. However, this trend is not without its challenges. Residential tourism can have long-term effects on land utilization and demographics, leading to displacement of local people and their exclusion.
Goa's protests at the local level, where affected villagers are fighting residential projects, are a testament to the fact that this is a pan-Goa issue arising from a tourism fallout that is going unnoticed. According to studies, residential tourism is mainly focused on land sale, where land becomes a source of investment and speculation.
This trend is not new to Goa, however. Vishvesh Kandolkar, in his paper Consuming Goa Portuguesa Vacationing in a Postcolonial Colony, published in 2020, wrote, 'Goa not only figures in the national political economy as a tourist destination, but more recently as a capitalist venture, marking India's turn to neoliberalism through real estate projects in the post-liberalization period.'
As Goa continues to grow as a tourist destination, it's essential to acknowledge the shift towards residential tourism and its potential impact on the state. While it may bring in revenue and investment, it's crucial to ensure that the benefits are shared equitably among all stakeholders, including local communities.
information Goa, a popular tourist destination in India, has been witnessing a growth in its real estate market. The state's tourism industry has been booming, with visitors from across the country and globe flocking to its beaches and attractions.
The Goa government has been promoting tourism in the state, with initiatives aimed at regenerative tourism. However, the rise of residential tourism has raised concerns among local communities and environmentalists.
Frequently Asked Questions
What is residential tourism?
Residential tourism is a form of tourism where people buy properties in popular tourism destinations for temporary or permanent residences.
What are the effects of residential tourism on local communities?
Residential tourism can lead to displacement of local people and their exclusion, as well as long-term effects on land utilization and demographics.
Is residential tourism a new trend in Goa?
No, residential tourism is not entirely new to Goa. However, the state seems to be one of the destinations that is making this shift without realizing it.
What are the benefits of residential tourism?
Residential tourism can bring in revenue and investment, but it's crucial to ensure that the benefits are shared equitably among all stakeholders, including local communities.
What initiatives has the Goa government taken to promote tourism?
The Goa government has been promoting tourism in the state, with initiatives aimed at regenerative tourism.
Related News Articles
Mumbai Real Estate Developer and CEO Embroiled in ₹13.65 Crore Fraud Case
A Mumbai-based real estate developer and CEO have been booked for allegedly forging documents and duping a partner of ₹13.65 crore in a Bhandup land deal.
Mumbai Property Registration Revenue Surges 52% YoY to Rs 1,081 Crore This Diwali
According to data from the Inspector General of Registration (IGR), Maharashtra, property registrations in Mumbai witnessed a remarkable 22% year-over-year increase, with 11,861 homes registered in October 2024, compared to 9,736 in November 2023.
AI Bubble Deflating: Zoho's Sridhar Vembu Stresses Importance of Real Engineering Work
Zoho CEO Sridhar Vembu discusses the potential deflation of the AI bubble and emphasizes the enduring importance of real engineering work in the tech industry.
ED Seizes ₹19.61 Crore from Karrm Developers Linked to Vivek Oberoi in Real Estate Scandal
The Enforcement Directorate (ED) in Mumbai has taken action against Karrm Developers, a real estate firm associated with actor Vivek Oberoi, by seizing assets worth ₹19.61 crore. The action is part of an ongoing investigation into financial misconduct in the affordable housing sector.
Mumbai Sees Record-Breaking Property Registration in March 2025
Mumbai witnessed a surge in property registration in March 2025, driven by the impending hike in reckoner rates set to take effect from April 2025. This surge highlights the robust demand in the city's real estate market.
Private Equity Investments Fuel 133% Surge in Real Estate Deal Volumes in Q1 2025
Real estate deal volumes soared by 133% in the first quarter of 2025, driven predominantly by private equity (PE) investments, which accounted for 88% of the total transactions.