Impact of Tourism on the Economy: A Case Study of Indian Tourism Industry (original) (raw)
Related papers
IMPACT OF TOURISM ON INDIAN ECONOMY
Tourism is an integral part of Indian culture and tradition. It plays an important role in the development of industry. Tourism in the fastest growing industry in the country with great potential for its further expansion and diversification. Tourism is an economic activity involving billion of dollars exchanged each month. The basic aim is to change the behaviour towards foreign tourist. Tourism industry plays a crucial part in the economic development of the country. This paper discuss how India is emerging as popular destination in the world. Tourism has several dimension as economic, among the complex of interaction and their consequences that occur before, during and after a tourist trip. There are also psychological, sociological, ecological and political travel impact. It also examine the impact of India " s economic growth, role of tourism sector in India " s GDP. There are recent many events that have taken place in India as IPL Cricket matches, Commonwealth game, Visit of President Obama of USA have also helped the tourism industry. India established in the global market and also a rich source in tourism for the establishment of brand.
Tourism Sector and Indian Economy: An Evaluation from 2000 Onwards
2020
In this research paper it is illustrated how the travel and tourism industry boosts the Indian economy. Tourism can be defined as discovering explored or unexplored destinations. It comprises of understanding a different lifestyle, relishing the mouth-watering dishes and rejuvenating oneself. The Indian government has realized this and is therefore working towards achieving a target of 1% inbound tourist arrivals worldwide to India by 2021. The Government of India has started infusing funds into the industry through various schemes and projects like the Swadesh Darshan, Pilgrimage Rejuvenation and Spiritual Augmentation (PRASAD) etc. With the rise in stress and competitive lifestyle, people are ardently searching for alternatives to hit the road and rejuvenate themselves. They mostly opt for religious places as they feel that their, they will receive the peace and calmness they are looking for. There has been a 14% growth in the foreign tourist arrivals in India in 2017. Tourism has...
A REVIEW OF ECONOMIC IMPACTS OF TOURISM INDUSTRY ON GROWTH OF INDIAN ECONOMY
Journal of Modern Management & Entrepreneurship, 2019
Tourism is one of the productive business activities directed for the production of the goods and services. It provides the goods and services for the customers (mainly visitors), generally while providing employment and income for the locals. Due to forward and backward linkages, Tourism industry in India is the major source for sustainable economic development with other prominent sectors of economy. The Indian Tourism Industry has flourished in the past few years, contributing to the Foreign Exchange Earnings, Gross Domestic Product, Employment in other words we can say in overall Nation's Development. Now-a-days, tourism is the flourishing industry. The advantages of tourism includes service sector growth, increase in opportunities of employment, earnings in foreign exchange, recreation, growth of economy, socializing, constructive and humanistic exchange for better international relations and no doubt enjoyment as well. Good health and better wellness is also among the advantages of tourism. In world trade measurement Tourism is an important factor for all the economies, which helps in foreign earning, tourism provides employment to various people, it is also an important tool which can be used for cultural and social exchange. Tourism is only an industry which creates many indirect employments with every direct employment. To finance the tourism sector, several strategies and sources may be tapped. Among these, domestic private investment, foreign direct investment, government budget and foreign aid (bilateral and multilateral) are vital. Therefore, here we will focus on review of economic and financial impacts of tourism industry in India.
Study of the importance of Indian tourism on economic development over the period 2000-2017
Objectives: This work assesses the relationship between Gross Domestic Product, Foreign Tourist Arrivals, Gross Domestic Product and Employment in India over the period 2002 to 2017. The other objective is to observe the growth and performance of tourism in Gross Domestic Product of India. To study the different tourism policies and identify the best policies or suggestions for government of India.
This paper highlights India is great as a popular tourist destination in the world, driven by the focus on innovation and creating value for tourists. Traveling and Tourism has been an undivided part of Indian Culture &Tradition. Tourism Industry is the most vibrant section activity and a multibillion industry in India. Developing country like India tourism has become one of the major sectors of the economy, contributing to a large proportion to gross domestic product and employment opportunities. Travel and tourism perform an important role in India's economy; compared with other nations, as per the UNWTO Barometer India ranks 40th in terms of International Tourists Arrivals in terms of its tourism sector's contribution to the gross domestic product. Tourism can offer observed and unobserved assistance to a nation's economy. Tourism is one of the fastest increases in size service industries in the country with great capacity for its further spread and multiformity. Tourism industry plays a prime role in any country's economic development. It helps significantly to the country for creating the employment opportunities to the big number of people. There is also a need to enhancement the government's prelude to make India proliferate in tourism and installation in the global market. It has rich source in tourism for the installation of the brand. Sure it has been launched the unreliable India to make tourism superior.
ROLE OF TOURISM INDUSTRY IN INDIA ECONOMY
isara solutions, 2019
This paper explains how tourism sector is significant for Indian economy. Developing country like India tourism has become one of the major sectors of the economy, contributing to a large proportion to GDP and employment opportunities. Tourism is one of the fastest growing service industry in the country with great potentials for its further expansion and diversification. It helps significantly to the country for creating the employment opportunities to the large number of people. Tourism in India is a sun rise industry, an employment generator, a significant source of foreign exchange for the country and an economic activity that helps local and host communities.
Economic aspects of tourism in India
2018
Travel & Tourism is an important economic activity in most countries around the world. The industry has significant indirect and induced impacts. Since the last few years, Indian tourism industry has been growing at a rapid pace and has exhibited a vast potential for generating employment, earning foreign exchange thereby uplifting the economy.The paper critically analyses the tourism industry in India and portrays its relative strengths as well as weaknesses. A comprehensive data based study is conducted to evaluate the impact of tourism on Indian economy. Quantitative tools and secondary data are used for the same. Regression analysis is also performed by taking Foreign Tourist Arrivals (FTA) as the dependent variable and contribution to GDP by tourism sector as the independent variable. It is further assumed that the GDP of tourism industry in the previous year augments to the investment in the present year or GDP generated by the tourism industry is re invested next year in the ...
Indian Tourism Industry Under Economic Microscope
Zenodo (CERN European Organization for Nuclear Research), 2014
The Indian travel and tourism industry has immense potential to act as a catalyst in the socio economic development, which is evident from the role played by this labour intensive industry during the last two decades. Through its strong backward and forward linkages it generates employment in different sectors of economy, both for skilled and unskilled labour force. It helps in improving the living standard of remote rural and semi urban areas. It also plays important role in foreign exchange earnings, infrastructure development, and plays crucial role in the promotion of world famous Indian traditional Art and craft. Tourism industry has potential to strengthen the inclusive economic development. It is a limitless industry with immense growth potential having clear remarkable positive impact on economic and social aspects of Indian economy. Secondary data has been used to find out the impact of growing Indian tourism industry on various economic parameters which are vital for the overall economic development of a country.
TOURISM PERSPECTIVE IN DEVELOPING ECONOMIES WITH SPECIAL REFERENCE TO INDIA
Tourism plays a vital role in development of an economy. It is one of the largest earner of foreign exchange and employees a large number of individuals both directly and indirectly. In India tourism is also the second largest foreign exchange earner and employees a large number of people in it. This industry has seen two fold growths especially after 2002 when Government recognized the potential of this sector and launched Incredible India Program to promote and develop tourism all over the world. Over the decades, tourism has experienced continued growth and deepening and diversification to become one of the fastest growing economic sectors of the world. Tourism has become a thriving global industry with the power to shape developing countries in positive and negative ways. No doubt it has become the fourth largest industry in the global economy. Tourism in India is economically important and is growing rapidly. The World Travel & Tourism Council calculated that tourism generated 8.31 lakh crore (US$120 billion) or 6.3% of the nation's GDP in 2015 and supported 37.315 million jobs, 8.7% of its total employment.