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Indian Tourism Industry Sharing 6% of GDP
Jun 15, 2006
Indian Tourism industry is one of the most important export industries of the country. Although the international tourist inflow is relatively low, India has found tourism emerging as an important sector of its economy.
Tourism yields substantial foreign exchange for India. It is turning into a volume game where a large number of participants are contributing to the revenue of the industry. Segments such as hotels, tour operators, airlines, shipping etc., are significant contributors to this revenue.
With lot of imagination and ideas the Indian tourism sector is gathering momentum and is set to have not only large numbers of foreign tourists but also make a big share in the country’s Gross Domestic Product (GDP). Recent statistics have revealed that during the first quarter of 2006, the performance of the tourism industry has been very encouraging which has registered an 11% increase in foreign tourist arrivals.
RNCOS’ recent market research report, “Indian Tourism Industry Outlook (2006)” draws a colorful picture about the future of Indian tourism as its share of employment is expected to account 10%, including self-employment.
The report gives the following tourists count distribution for 2005 and 2006.
- While in 2005 in-bound tourist count was 4.2Mn, in 2006 it is expected to cross 5.5Mn.
- As compared to 2005, the out-bound tourists will make a jump of 22%.
- Interestingly, out of the total domestic tourists in 2005, nearly half were urban inhabitants.
According to the market researchers, in 2006, the total in-bound tourists were 1.28Mn while the same was 1.14Mn in 2005. The resulting foreign exchange earnings were as high as 12% of an amount of $1,780Mn.
Besides giving statistical details the report, “Indian Tourism Industry Outlook (2006)” discusses about the significant role that the government has for the growth of the Indian Tourism industry. It also tells what key factors play in pushing this industry.
The market research report has a separate section on opportunities, major challenges and emerging trends and changes that face the tourism industry. The report also gives an in-depth analysis of the present situation and future prospects of the Indian tourism industry.
For more information visit: http://www.rncos.com/Report/IM039.htm
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