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Sharma, Nitasha
- Growth and Development of Indian Tourism Industry
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Authors
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1 Department of Commerce and Business Management, Guru Nanak Dev University, Amritsar, Punjab.
1 Department of Commerce and Business Management, Guru Nanak Dev University, Amritsar, Punjab.
Source
Journal of Hospitality Application and Research, Vol 7, No 2 (2012), Pagination: 14-24Abstract
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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Authors
Affiliations
1 Assistant Professor, PG Department of Commerce and Business Management, Doaba College, Jalandhar, Punjab, IN
2 Assistant Professor, Punjabi University Regional Center for IT and Management, Punjab, IN
1 Assistant Professor, PG Department of Commerce and Business Management, Doaba College, Jalandhar, Punjab, IN
2 Assistant Professor, Punjabi University Regional Center for IT and Management, Punjab, IN
Source
Journal of Hospitality Application and Research, Vol 17, No 1 (2022), Pagination: 01-18Abstract
Tourism sector is tremendously growing sector of BRICS economies during past two decades. Tourism industry directly or indirectly contributes to the GDP, employment and balance of payment to the financial system of every economy. This sector is also contributing to increase the revenue and thus converting financial deficit into surplus. Therefore, an effort is made to observe the causal association linking tourism industry and BRICS economies. GDP and receipts from this sector have been taken as proxy respectively for BRICS economies and tourism sector to check the causal relation. Data was gathered from various sources and suitable techniques were employed to analyses the data. The results of the study presented that in the case of Brazil as well as China, growth in GDP cause growth in Tourism Receipts whereas reciprocal relationship exists for other countries,Keywords
Tourism, Growth, BRICS, Causality, DevelopmentReferences
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