Inidan Tourism Industry:Growth and Development

Tourism is now well recognised as an engine of growth in the various economies in the world. Several countries have transformed their economies by developing their tourism potential. Tourism is the fastest growing industry in the world. According to the World Travel and Tourism Council (WTTC) tourism is the world's largest industry generating 12% of the global gross national product and it employs around 200 million people worldwide (WTTC, 1995). Worldwide tourism is ranked second highest revenue-generating industry next to the oil industry. This article studies the growth of foreign tourist arrivals and foreign exchange earnings into India through the Indian tourism industry. It also examines the share of the Indian Tourism Industry in the World in general and especially the Asia Pacific region. Tourism has been pivotal in social progress as well as an important vehicle of widening socioeconomic and cultural contacts throughout human history. The article suggests measures for increasing the growth of foreign tourist arrivals and foreign exchange earnings into India via tourism. It is evident from this study that the Indian Tourism Industry is growing significantly each year at a rate of 7% in foreign tourist arrivals. In addition, India is currently experiencing a steep jump in its position in terms of tourism growth and has moved from its recent 50th global position to 40th position in tourist receipts.