Contribution of Travel and Tourism sector to India’s Economy

India is a traveler's paradise. It has something to offer to every taste and preference. The country has emerged to be a favorite holiday destination for tourists from all across the globe. The country has everything that a traveler will look for in a place to spend vacations. As the tourism industry of the country is growing tremendously, the government is also providing various measures and incentives to encourage tourism and development in the tourism sector of the country. It is highly profitable to make career in Hospitality Industry by getting enrolled in Best Hotel Management Institute in Delhi.
Revenues of tourism and hospitality sectors have increased multifold during the past few years. The sector has attracted a significant number of investors. The main drivers behind the growth of the tourist industry in India are the favorable weather conditions, easy access to airfields, railways and highways, and a plethora of developmental amenities offered by the central and state governments. Apart from these, various other factors also contribute to the development of tourism in India. Chief among these is the government's policy of encouraging development of the country in the direction of improved infrastructure, better infrastructure, and a better business climate.
The policy of the government promotes development of the country for the benefit of both the federal and local levels. The policy also encourages the establishment of international standard airports, and development of better road, rail and railway network throughout the country. In addition, the policy encourages the establishment of educational institutions, establishments for medical science and research, and business organizations in different sectors of the economy. All these initiatives have helped the country in achieving the goal of enhanced development in tourism and hospitality sector. This is one of the most important aspects of enhancing the contribution of travel and tourism to India.
Development in tourism and hospitality sector also provides employment opportunities to people from different walks of life. According to the latest survey report, the growth in this sector has contributed significantly to the Gross Domestic Product (GDP) of the country. The growth in this sector also leads to widening the income gap between rural and urban populations. As a result, more number of people from the lower income group can afford better lifestyle options. At the same time, more number of people from higher income group can afford to opt for more luxurious and sophisticated lifestyle options, resulting in an increase in demand for property in different segments of the economy.
The government's policy on tourism and hospitality also emphasizes on the promotion of heritage properties and their protection. These properties provide valuable sources of income and enhance the status of the tourism and hospitality sector of the economy. Moreover, the presence of heritage properties in India enhances the tourism and hospitality sector and brings in more investments in this sector. The efforts of the state and federal governments to promote tourism and hospitality through promotion of tourism infrastructure projects and provision of visas, facilitate greater access of tourists and foreign visitors to India.
The policy also encourages the development of tourist infrastructure such as hotels, guest houses, inns, lodges and other amenities for the accommodation of tourists. The success of the tourist infrastructure development projects lies in providing a safe and secure environment for the visitors. The government also promotes the concept of heritage management that aims at protecting and maintaining the historical monuments and buildings against adverse impacts of modern life. In addition, the government encourages conservation of natural resources and avoids exploitation of these resources for commercial purposes. The government adopts policies such as 'green economy', 'biodiversity', 'sustainable tourism', 'heritage tourism', 'marine tourism', and 'tourism without risk policy'. These policies help in reducing the negative effects of tourism and embarking on a journey towards healthy development of tourism in the country.
The growth of the travel and tourism sector in the country has contributed significantly to the overall development of the economy. The exponential increase in the number of foreign tourists (from all over the world), increase in purchasing power of the people of India (especially developed economies), liberalization of foreign exchange rates and the opening of the Indian economy to foreign investors have greatly contributed to the development of the tourism and hospitality industry of the country. Rapid infrastructural development in major cities, state-of-the-art airports, high speed rail connectivity and multi-utility highways have also facilitated the movement of people and goods across the country. Thus, the progress in the tourism and hospitality sector has helped the country in creating a favorable environment for the development of other sectors such as the information technology, pharmaceutical, biotechnology and small and medium enterprises.
A vibrant and progressive tourism and hospitality industry are highly diversified and offer a wide range of choices to the travelers and visitors. Traveling in India offers a lot to the tourists apart from scenic beauty and beautiful landscapes. Apart from being a land of pilgrimage, it also has many hills, lakes and forests which are home to several animal species and birds. Hence, India tourism is not limited to religious tourism but also encompasses trekking, adventure sports, mountaineering, beach tourism, river tourism and a lot more. The country's rich and diverse landscape and abundant resources have paved the way for the country's rapid progress in the tourism and hospitality sector.