The Impact of Tourism Industry on Gross Domestic Product and Balance of Payments in India

摘要

Tourism sector is one of the fast growing service sectors in the World. It acts as a powerful mechanism for economic growth. India is a matchless and perfect destination for both domestic and foreign visitors. India’s wide variety of flora, fauna, tourist destinations, health and wellness centres, eco-tourism spots, adventure activities, culture, heritage, educational institution etc. attract both domestic as well as foreign tourists. The boost in the tourist arrivals have resulted in the swift growth of tourism sector in India. The growth of tourism sector has resulted in employment generation, foreign exchange earnings, development of infrastructure facilities, capital investment, socio-economic growth, increasing in the contribution to GDP and so on.