An Analytical Study On Contributions Of Tourism Industry In India

This paper is an attempt to explore the significance of tourism economy for the development of India. Tourism is the integral part of Indian culture and tradition. Tourism industry is the vigorous triennial action and a multibillion industry in India. The potential and performance of Indian tourism industry needs an indicator in terms of its economic magnitudes. It also consider the effects of tourism economic growth in India, major players to the economic growth, Role of Indian tourism industry in GDP, contribution of Indian tourism industry in foreign exchange, FDI and employment generation. Tourism is the world’s largest and fast growing labour intensive industry in the nation with gigantic potentials for its further expansion and diversification. Tourism as a service industry plays a pivotal role for the nation’s economic development. While tourism is no universal elixir, the development of tourism can play a much more significant role in the future than it does at present. Analysis of the economic effects of tourism based on a comparison of the nation’s shows that mobilising the demand and supply chain for tourism services has extremely beneficial effects on employment and the current balance of payments. The nations have a major responsibility to promote the economic role of tourism, towards both themselves and the entire international community, especially to under develop and developing countries.