Assessing the Influence of Different Financial Schemes on Tourism Development of Kashmir

Abstract

Purpose The main focus of this study is about the role of different financial schemes and their impact on the tourism development in terms of infrastructure, connectivity and controlling mechanism. This study investigates the significant contribution of these schemes on the tourism development at a destination. Methodology The influence of four Financial Scheme drivers i.e. Jammu and Kashmir Bank Tourism Schemes (JKBTS), Jammu and Kashmir State Financial corporation Term loans (JKSFCTL); Youth Startup loan Scheme (YSLS) and Prime Ministers Employment Generation Programme (PMEGP) on tourism development were investigated. The confirmatory factor analysis has been applied to validate the data. For hypotheses testing, Structural equation modeling has been applied. Findings Tourism development in terms of infrastructure has gained momentum in the past lustrum but lot of more activities needs to be done in order to improve tourist arrivals at a destination. The conflict has engulfed the destination which needs to be addressed at the earliest. In order to develop the monitoring mechanism better, the Jammu and Kashmir Bank Tourism scheme is crucial followed by Jammu and Kashmir State Financial corporation term loans; Youth startup loan schemes. Originality The present study complements the existing literature regarding the role of Financial Schemes drivers and linkage among these drivers with development of tourism in terms of Infrastructure, connectivity and monitoring mechanism.

Keywords: Destination Image, Revisit Intention, Tourists, J&K

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