The Role of Tourism Industry In The Development of Indian Economy

International Journal of Economics and Management Studies

© 2019 by SSRG - IJEMS Journal

Volume 6 Issue 10

Year of Publication : 2019

Authors : Dr. Sadyojathappa S

10.14445/23939125/IJEMS-V6I10P123

How to Cite?

Dr. Sadyojathappa S, "The Role of Tourism Industry In The Development of Indian Economy," SSRG International Journal of Economics and Management Studies, vol. 6,  no. 10, pp. 176-180, 2019. Crossref, https://doi.org/10.14445/23939125/IJEMS-V6I10P123

Abstract:

Tourism Industry has been an integral part of Indian Cultural and Tradition. It is the most vibrant tertiary activity and a multibillion industry in India. Travel and Tourism Industry significantly contributes towards socio-economic development through employment generation, foreign exchange earnings and development of infrastructure. India in recent years has gained good exponential growth in the Tourism Industry. Today India is the preferred destination for both overseas and domestic travellers. India provides the facility to tourists of international origin to understand and experience cultural diversity of the country. According to Indian official estimates the tourism in India has outperformed the global tourism industry in accordance with the growth, volume of foreign tourists and even the revenue. India’s tourism industry is experienced a strong period of growth which is derived by the burgeoning Indian middle class and high spending foreign tourists with coordinated government campaigns to promote ‘Incredible India’. India is a large market for travel and tourism. It offers a diverse portfolio of niche tourism products - cruises, adventure, medical, wellness, sports, MICE, eco-tourism, film, rural and religious tourism. India has been recognized as a destination for spiritual tourism for domestic and international tourists. This paper is based on secondary data and tries to infer total contribution of Tourism industry for the Indian GDP and alleviation of poverty in particular and Socio-Economic development of the country in general and significant contribution by the Tourism sector in India in terms of Foreign Exchange Earnings, Foreign Tourists Arrival etc.

Keywords:

Travel &Tourism, GDP, FEEs, FTAs, Employment, Trend and Government Initiatives

References:

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