Impact Of Travel & Tourism On Economic Growth In India
Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic impact, the industry has significant indirect and induced impacts. Tourism is a major engine of economic growth and an important source of foreign exchange earnings in many countries including India. It has great capacity to create large scale employment of diverse kind – from the most specialized to the unskilled and hence can play a major role in creation of additional employment opportunities. It can also play an important role in achieving growth with equity. India has a dramatic growth of tourism over the last 25 years and it is one of the most remarkable economic change.
Tourism activity has long lasting socio-economic impacts on the host economy and community. Now in India tourism is the large service industry with a contribution of 6.23% to the national GDP and providing 8.78% of the total employment.
Keywords: Employment opportunities; Foreign versus domestic tourists; GDP; Tourism industry.