Comparing the years 2017 and 2018, when the number of domestic tourists registered a growth of 11.9% (1657.55 million to 1854.93 million), growth in number of foreign visitors was registered at 7.4% (26.89 million to 28.87 million). The travel and tourism sector is the third largest foreign exchange earner for India. Statistically, India’s tourism revenue in terms of foreign exchange earnings increased from $20.24 billion in 2014 to $28.59 billion in 2018.
The tourism sector is also a good source of employment. Data shows that this sector accounted for 8% of the total employment opportunities generated in the country in 2017, providing employment to around 41.6 million people and the number is expected to rise to 52.3 million by 2028.
Initiatives taken by the government
This story is from the September 16-31, 2019 edition of BUSINESS ECONOMICS.
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This story is from the September 16-31, 2019 edition of BUSINESS ECONOMICS.
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