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ABSTRACT
Tourism is world's largest industry without making smoke. It occupies one in nine global jobs and contributes 10 per cent to the world's Gross Domestic Product. It is a dynamically developing area of external economic activities. It affects different other sectors of the economy through its high growth and progress rates, substantial amounts of foreign currency inflows, infrastructure expansion and introduction of new management and educational experiences. Consecutively it adds positively to the social and economic development of the country as a whole. Its actual and potential economic impact is amazing. So this paper is an attempt to measure the economic impact of tourism in India. Currently a lot of measures are there to measure the impact. The important measures are Input-Output Method, Multiplier Method, Economic Impact Assessment Scale, Tourism Satellite Accounts Method, Impacts of Visitor Spending Method and Computable General Equilibrium Model. In this study the author is using the Visitor Spending Method.
Keywords: Tourism, economy, impact, measurement, development
Tourism is a rapidly growing industry of the world. It is gaining universal acceptance as a potent engine for comprehensive socio economic development because of the employment opportunities it created and the infrastructure development as a result of it. It has the prospective to inspire other economic indicators through its forward and backward linkages. Also it has the capacity to generate more employment due to its multiplier effect in the economy. Tourism in India has developed slowly over the years. India is famous for its rich cultural heritage. This cultural tradition of the country was based on the bywords 'Athidi Devo Bhava' and 'Vasudhaiva Kudumbakam'. The advertisement campaign 'Incredible India' introduced by the Ministry of Tourism is to promote India's culture and tourist attractions in a fresh and unforgettable way. The development of Indian tourism in the 19th and 20th century was constituted by the establishment of railway system, modernisation of ports and development of hill stations. India's tourism during post independence is based on the remark of Pandit Jawaharlal Nehru that "welcome a tourist and send back a friend".
Travel and tourism constitute an integral part of India. Tourism is considered as an engine of growth. It is also a generator of employment. The sector has the capability to produce employment...