In India Tourism and Travel industry plays a vital role in generating revenue. India is a large market for travel and tourism. It offers a varied portfolio of niche tourism products be it - cruises, adventure, medical, wellness, sports, MICE, eco-tourism, film, rural and religious tourism. India has been known as a popular destination for spiritual tourism for not only domestic but also for international tourists. They come from various parts of the World to experience India’s Spiritual diversity. With the The launch of various branding and marketing initiatives by the Government of India such as ‘Incredible India!’ and ‘Athiti Devo Bhava’, tourism has been a driving force to growth. The Indian tourism and hospitality industry has come out as one of the key movement of growth among the services sector in India. Tourism in India has great potential considering the rich cultural and historical heritage, variety in ecology, terrains and places of natural beauty spread across the length and breadth of our country. Tourism is also a potentially large employment generator besides being a significant source of foreign exchange for the country. The travel & tourism sector in India accounted for 8 per cent of the total employment opportunities generated in the country in 2017, providing employment to around 41.6 million people during the same year. The number is expected to rise by 2 per cent annum to 52.3 million jobs by 2028. The Indian government has realized the country’s potential in the tourism industry and has taken measures to make India a global tourism hub.
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Some of the initiatives taken by Government of India:
The Government of India is working to achieve one per cent share in world's international tourist arrivals by 2020 and two per cent share by 2025. Under Budget 2018-19, the government has allotted Rs 1,250 crore for Integrated development of tourist circuits under Swadesh Darshan and Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASAD). India’s travel and tourism industry has huge growth potential. The tourism industry is also looking forward to the expansion of E-visa scheme which is expected to double the tourist inflow to India. India's travel and tourism industry has the potential to expand by 2.5 per cent on the back of higher budgetary allocation and low cost healthcare facility, according to a joint study conducted by Assocham and Yes Bank. easy, quick, and informal.
Source: ibef.org
Also read: Benefits of Postgraduate Study
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