Outlook|July 13, 2020
Why is it important for India to revive tourism? What are its benefits to the economy?
The growing influence of tourism as an economic power-house and its potential as a tool for development are irrefutable. Not only does the tourism sector spearhead growth, it improves the quality of people’s lives with its capacity to create large scale employment of diverse kind. It supports environmental protection, champions diverse cultural heritage, and strengthens peace in the world.
Its role in the economic, cultural, social and educational fields is one of the largest economic activities in international trade. It is a large service industry globally in terms of gross revenue as well as foreign exchange earnings. Tourism is recognised as a powerful engine for economic growth and employment generation in India. The contribution of tourism to GDP of India as per estimation in accordance with 3rd Tourism Satellite Account in 2017-18 was 5.07%.
What strategies has the Centre devised to help the sector?
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July 13, 2020