Ankit Kansal, MD, Axon Developers
The coastal state of Goa is counted amongst one of the most prominent tourism markets in India. Not only in India, but the state is popular worldwide. Goa received 9.9 million domestic tourists in 2024, growing by 22%. In terms of foreign tourists, the number has inched up by 3% and reached 460,000 in 2024.
Goa’s scenic beauties, long coast lines, globally recognized sea beaches coupled with quaint Portuguese-styled neighborhoods, majestic architects, trendy nightlife and rich gastronomic cultures make it a prime tourism and hospitality destination in India.
Goa’s explosive growth as a prominent tourism hub has also cascaded to other walks of economy driving a property market bull run and frenetic growth in the hotel & resort industry.
The state of Goa, especially its northern parts is becoming a bustling ground for second homes and vacation villas. Destinations such as Mandrem, Morjim and Dona Paula are the new hot favourite for the rich and well-heeled to own swanky villas and luxury bungalows. It is a matter of lifestyle upgrade for the business tycoons, c-suites and celebs to invest in high-end properties in Goa.
 Goa carving a niche in serviced living
While Goa is evolving into a prized luxury property market, there is also another phenomenon visible. The state of Goa is now becoming the new favoured destination for start-ups, tech companies, creative agencies and numerous other business ventures.
Over the past few years, there has been a significant jump in tech meet-ups, staycations, hackathons, digital nomadism, tech talk shows, etc. in Goa. Likewise, as an aftermath of the pandemic, many start-ups, entrepreneurial ventures, consulting houses and creative agencies are moving to Goa lured by its coastal vibes, scenic natural beauties and cheaper property prices. It is noteworthy that property prices and leasing rates have risen sharply in Goa in the past 2-3 years, yet it is much lower than metros. It makes perfect sense to lease out a villa to operate your business in Goa.
As Goa rides the wave of entrepreneurial transformation, new crop of techies, business professionals, consultants, creative resources are now moving to the coastal state. There is a visible hike in long stays, weekend gateways, seasonal stays and even permanent migration. People are no more just glued by sun and sand but also intrigued by Goa’s idyllic environs, enchanting Konkan vibes, laid-back seaside lifestyle and verdant sceneries of the inlands.
 Goa becoming the new bastion of serviced living
As the long stay market is maturing, Goa is becoming the pioneer of serviced living. There is a visible rise in service apartments and villas with personalized services, curated spaces and exclusive amenities. These spaces are not just catering to techies, entrepreneurs, creative mavericks, remote workers etc. but also to medical tourists, interns, health retreats and family hangouts. Interestingly many tourists also prefer serviced living as it offers a more personalized experience and can be relatively cheaper, especially for longer stays.
Interestingly, the concept of serviced living isn’t just limited to seaside destinations in Goa but also going inwards. While coastal Goa is known for its vibrancy and popular sea beaches, there is plenty to explore inwards. From verdant landscapes, thick mangrove forests, warm hospitality and traditional Goan- Portuguese architects, there is enough to do in these destinations.
These areas can offer a perfect environ for cultural immersion and relaxing amidst natural beauties. This is further fuelling demand for serviced apartments alongside managed villas and builder floor units.
The government’s role is also commendable. The state government wants to transform Goa into one of the top-25 Startup hubs in the globe. It is also introducing a new digital nomad VISA policy. Already Goa is also home to 10,000-15,000 digital nomads who live here semi-permanently. After the introduction of the new policy, the numbers will further rise, pushing ahead the serviced living market as well.