Economic Impact of Tourism in India
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Tourism is world's largest industry without making smoke. It occupies one in nine global jobs and contributes 10 per cent to the world's Gross Domestic Product. It is a dynamically developing area of external economic activities. It affects different other sectors of the economy through its high growth and progress rates, substantial amounts of foreign currency inflows, infrastructure expansion and introduction of new management and educational experiences. Consecutively it adds positively to the social and economic development of the country as a whole. Its actual and potential economic impac...
Tourism is world's largest industry without making smoke. It occupies one in nine global jobs and contributes 10 per cent to the world's Gross Domestic Product. It is a dynamically developing area of external economic activities. It affects different other sectors of the economy through its high growth and progress rates, substantial amounts of foreign currency inflows, infrastructure expansion and introduction of new management and educational experiences. Consecutively it adds positively to the social and economic development of the country as a whole. Its actual and potential economic impact is amazing. So this is an attempt to measure the economic impact of tourism in India. Currently a lot of measures are there to measure the impact. The important measures are Input-Output Method, Multiplier Method, Economic Impact Assessment Scale, Tourism Satellite Accounts Method, Impacts of Visitor Spending Method and Computable General Equilibrium Model. The study measures economic activity associated with visits to the country. So the total economic impact in the economy as a result of tourism was measured by Visitor Spending Method.
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