Growth and Development of Indian Tourism Industry
Published: 2012
Author(s) Name: Mandeep Kaur and Nitasha Sharma |
Author(s) Affiliation: 1-Associate Professor, Dept. of Commerce, GNDU, Amritsar; 2-Senior Research Fellow
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Abstract
The importance of tourism to economic development has been recognized widely due to its
contribution to the balance of payments, GDP and employment. Since last few years, Indian tourism
industry has been growing at a rapid pace and it has vast potential for generating employment and
earning large amount of foreign exchange. So it is imperative to study the growth and development of
Indian tourism industry. In the present paper the growth and development of Indian tourism industry
has been studied. For this purpose, data has been collected from secondary sources such as Bureau
of Immigration, Ministry of Tourism, Govt. of India and World Travel and Tourism Council. To
analyze the collected data, Compound Annual Growth Rate (CAGR) has been calculated. Results
showed that tourism is the largest service industry in India, with a contribution of US$34.008billion
to the national GDP and 7.4 percent to the total employment in the year 2011. India witnessed more
than 5 million annual foreign tourist arrivals and more than 740 million domestic tourist visits in the
year 2011. Moreover, it is suggested that the central and state government should take initiatives to
develop tourism in India.
Keywords: Growth, Development, India, Tourism Industry
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