Contribution of Travel and Tourism Industry in boosting Indian Economy

Travel and Tourism Industry has flourished in the past few years, significantly contributing to the nation’s Gross Domestic Product, foreign exchange earnings and employment. Many developing countries have seen tourism as the major source of foreign exchange earnings. Tourism industry in India is growing and it has vast potential for generating employment and earning large amount of foreign exchange besides giving a boost to the country’s overall economic and social improvement. In terms of the countries’ share of contribution to global Travel & Tourism growth last year, two countries dominate; one quarter 25% came from China while the USA provided a further 12%. Other major contributors include India with a 6% share, while Turkey, France and Japan each contributed 4% to the sector’s growth in 2018. 2019 was another year of strong growth for the global Travel & Tourism sector reinforcing its role as a driver of economic growth and job creation Moreover, tourism is a multi-dimensional activity, basically a service industry. It would be required that all ways of the central and state government, public-private partnership and voluntary organisations become active partners in endeavour to attain the sustainable growth in tourism in India would become a world player in tourism industry. The present paper elaborates about the contribution of travel and tourism industry in the development of Indian economy.