Been thinking of the impact of India’s economic growth on Tourism? We too!
The developing world has immensely contributed to the economic boost that India is currently enjoying and it’s tourism sector has not been left out of the share of profits either- a major achievement for the image of brand India build up by a successful financial system in place in our country.
Some economists credit this fiscal feature of success of Indian financial system to the income generated by the tourism segment, movements across the cross-section of rising business opportunities, agricultural and educational sectors opening up as well as novel and attractive packaging of brand-building for India that have in turn, benefited the travel industry as well. Besides this, strategic planning of excursion packages, eco-tourism, sports events that bring the spot-light on India and greater patronage by greater number of MNC’s heading to our shores as well as diversifications of the Indian open industries norm have contributed to the growth of Indian economy and thereby, Indian tourism.
The WTO (World Tourism Organization) reports that as many as 698 million people traveled to a foreign country in 2000, spending over US$ 478 billion while on tour; if India too had a share in these results, then surely the impact of Indian economy as a contributor to rising world economy and its impact on tourism cannot be ignored. More of free spending of disposable incomes, greater markets opening up and better scope for industrialization and earning opportunities have led the way for India’s economy to successfully launch the enhanced tourism sector.
What has contributed to the economic growth of India and the tourism sector at large are factors of industrialization, education, higher number of qualified professionals, opening up of foreign markets, liberal trade policies and better advertising and strategic marketing.
The above factors have been collectively responsible for boosting our country’s economic reserves and the impact of India’s economic growth on tourism is increasingly being felt in specialty sectors like spiritual tourism, spa tourism, student/senior citizen or family vacation plan segments in tourism as well as (surprise, surprise!) adventure tourism! Better amenities and modernization of roads, infrastructure in hotels, local lodging options, accreditation of genuine travel operators and guides etc., training being imparted by government and private sector individuals interested in developing specific regions for tourism promotion and encouraging global gains for India have all been strategized well. These policies put in place after significant contribution from field experts like market watchers, tourism ministry and education and foreign affairs ministry support systems are governed by the needs of tourists visiting India for a certain cultural flavor, yet, not be deprived of comforts, hygiene, security and conveniences that are world-class.
Understanding and fulfilling needs of global tourists for quality vacationing: the kick-off for creditable performance and strong impact of India’s economic growth on Tourism
Indian tourism receipts combined with better passenger transport systems and customized food and lodging preferences taken into consideration by exclusive tour operators has meant a niche segment of the country’s top travel agencies generating considerable income for their industry. No wonder, as things stand, tourism has become the number one export earner, ahead of automotive products, chemicals, petroleum and food for India and this would not have been possible without the combining of governmental, community and private industry powers through diversification in the economy. This diversification of economy is a sign of health for India as a developing nation fast emerging as a major player in the tourism sector, which has got a shot in the arm thanks to better management at local and urban levels. The only issue of concern is that should India or any of its major tourism generating regions become dependent for its economic survival upon one industry, it can put major stress upon this sector and its people, who may be compelled to perform well consistently. One solution for easing the burden of India’s welcome economic growth off the shoulders of the locals is for our developing country to explore other resources, apart from embracing specialized tourism pockets, as a way to boost the economy.