J&K Plans to Develop Nine New Tourism Destinations with World Bank Support
| Category | Details |
|---|---|
| Why in News? | Jammu and Kashmir Chief Minister announced plans to develop nine new tourism destinations in the UT. Hoped for World Bank funding despite its traditional reluctance. |
| New Tourism Destinations | J&K government identified nine new tourist destinations to ease pressure on hotspots like Gulmarg, Pahalgam, and Sonmarg. Also aims to develop lesser-known areas in Jammu. |
| World Bank Engagement | World Bank agreed to fund project reports for the nine destinations. Aim to secure full-scale funding post-reports. Estimated investment: Rs 5,500 crore for infrastructure. |
| Value-Based Tourism | Shift from volume-driven to value-based tourism, focusing on enhanced tourist experiences, improved hotel standards, and higher visitor satisfaction to encourage repeat visits. |
| World Bank Overview | Created in 1944 as IBRD (now World Bank). Part of the United Nations' specialized agencies. 189 member countries, including India. Focus: reducing poverty and building shared prosperity. |
| World Bank Institutions | Includes IBRD, IDA, IFC, MIGA, and ICSID. India is not a member of ICSID. |
| World Bank Reports | Key reports: Ease of Doing Business (stopped publishing), Human Capital Index, and World Development Report. |