A Review Of Economic Impacts Of Tourism Industry On Growth Of Indian Economy

Tourism is one of the productive business activities directed for the production of the goods and services. It provides the goods and services for the customers (mainly visitors), generally while providing employment and income for the locals. Due to forward and backward linkages, Tourism industry in India is the major source for sustainable economic development with other prominent sectors of economy. The Indian Tourism Industry has flourished in the past few years, contributing to the Foreign Exchange Earnings, Gross Domestic Product, Employment in other words we can say in overall Nation's Development. Now-a-days, tourism is the flourishing industry. The advantages of tourism includes service sector growth, increase in opportunities of employment, earnings in foreign exchange, recreation, growth of economy, socializing, constructive and humanistic exchange for better international relations and no doubt enjoyment as well. Good health and better wellness is also among the advantages of tourism. In world trade measurement Tourism is an important factor for all the economies, which helps in foreign earning, tourism provides employment to various people, it is also an important tool which can be used for cultural and social exchange. Tourism is only an industry which creates many indirect employments with every direct employment. To finance the tourism sector, several strategies and sources may be tapped. Among these, domestic private investment, foreign direct investment, government budget and foreign aid (bilateral and multilateral) are vital. Therefore, here we will focus on review of economic and financial impacts of tourism industry in India.

On investments for promoting tourism in India.

Tourism has increasingly become a vital element in the economic development of the Indian Ocean region. This volume brings together leading tourism and economics experts from the region to discuss the wide range of problems and issues raised by the increasing significance of tourism.These issues and proposed policies are examined theoretically in the first section of this book, with comparative empirical case studies illustrating these arguments in the second section.

Increased tourism benefits local economies by creating more revenue and employment options as interest in the location grows. However, as the hospitality and travel industry continues to grow and adapt, it becomes imperative that they implement socially responsible procedures. Corporate Social Responsibility in the Hospitality and Tourism Industry discusses issues and challenges faced by organizations implementing responsible business practices within the travel, hotel, leisure and hospitality industries. Featuring best practices and theoretical concepts on the support of local economies, ethical sourcing of native goods, and sustainability procedures, this publication is a vital source for policy makers, academicians, researchers, students, technology developers, and government officials interested in emergent ethical and moral practices within the travel industry.

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A flagship annual document of the Ministry of Finance, Government of India, Economic Survey 2011-12 reviews the developments in the Indian economy over the past 12 months, summarizes the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.

This work combines research and empirical evidence on the economic costs of disasters with theoretical approaches. It provides new insights on how to assess and manage the costs and impacts of disaster prevention, mitigation, recovery and adaption, and much more.