'Shit this investment is dying…': CEO's scathing take on Goa tourism


Goa, a tourist magnet in India, is now in dire decline. Shantanu Deshpande, CEO of Bombay Shaving Company, captured the unrest in a LinkedIn post: “The fall in Goa tourism has been swift and severe. Social media has been disrupting word-of-mouth cycles for hours.

Once-bustling bars are now empty, shacks are quiet, and events are undervalued, he wrote, adding that the decline comes as many investors who bought resorts for high returns are questioning their choices.

“What they say: 'We are happy that Goa will now be calm and quiet without the noisy hordes of tourists.' What they really feel: 'Shit, this investment is dying. I don't want to go to Goa either,'” Deshpande wrote.

Goa's tourism woes erupted on social media after viral posts criticized its infrastructure. Complaints ranged from unreliable transport and taxi monopolies to soaring hotel and air fares. “Foreign tourists have abandoned Goa,” said entrepreneur Ramanuj Mukherjee, pointing to declining numbers and a shift to international options such as Thailand and Sri Lanka.

In response, Goa Tourism Minister Rohan Khaunte dismissed the claims as a “smear campaign”. He cited a 22% increase in domestic tourist arrivals in 2024, with 1.04 million visitors recorded. However, the number of foreign tourists remains well below pre-pandemic levels, affected by geopolitical conflicts and logistical challenges.

While tourism is struggling, Goa's real estate market continues to grow. Property values ​​have increased by 30-50% in four years, driven by higher rental yields of 12-16% annually and improved connectivity via the new Mopa International Airport. Investors flock to Goa for its lifestyle, pristine beaches and cultural richness. But with the decline in tourist arrivals, many are reassessing their decisions. “It would be fascinating to see the painful escalation for the dedication of the people who actually moved there,” Deshpande noted.

Social media influencers and local activists have intensified the debate. Documentary filmmaker Deepika Narayan Bharadwaj, who drew criticism for her viral post on Goa's emptiness, said “(it) is a heartfelt cry to make Goa better”. Meanwhile, local lobbyists are urging the government to address real issues such as transport inefficiencies and waste mismanagement instead of deflecting criticism.



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