India's first university for tourism and hospitality management will be set up in Andhra Pradesh, expected to generate 1.24 crore jobs by 2014.

Based in Hyderabad, the National Institute of Tourism and Hospitality Management (NITHM) will be set up jointly by the Union Ministry of Tourism, and the Andhra Pradesh Government, with an investment of Rs 20 crore.

Currently, it offers a two-year masters program (MBA) and a three-year bachelors program (BBA) in tourism and hospitality management in addition to the short-term training programmes aimed at employment generation.

Tourism is now being recognised as an industry with immense growth potential, growing currently at 11 per cent. By 2014, it is expected to provide for 26 crore jobs globally, generating 8.6 per cent of the total employment and contributing 10.4 per cent of the GDP across the world. It accounts for one in every 17 jobs created.