New Delhi, Nov. 28 -- India's tourism and hospitality industry is set for a strong upswing, driven primarily by rising disposable incomes within the country's expanding middle class, according to a report by B&K Securities.

The report highlights that recent income tax relaxations and GST rationalisation have left a larger share of earnings in the hands of middle- and upper-middle-income households, directly strengthening their spending power.

It stated, "As individuals have more money left after taxes, they are more likely to spend on non-essential categories such as travel, dining and leisure, directly benefiting sectors like hospitality and tourism".

With more discretionary money available post-tax, consumers are increasingly directi...