Impacts of Tourism on Economy
Impacts of Tourism on Economy IMPACTS OF TOURISM ON THE ECONOMY Tourism is a significant contributor to India’s economy, playing a crucial role in generating employment, foreign exchange earnings and infrastructural development. The sector has witnessed robust growth over the years, making India one of the preferred travel destinations for both domestic and international tourists. POSITIVE IMPACTS ON ECONOMY 1 Increase Domestic Income and Foreign Currency Earnings 2 Economic Multiplier Effect 3 Increase Employment 4 Improve Infra-Structure 1 Increase Domestic Income and Foreign Currency Earnings The travel and tourism sector generate income for individual, company or business or national government. At national and international level, tourists spend their country currency, thus destination country can earn this foreign currency and increase domestic income. Boost to Local Businesses and SMEs Tourism benefits small and medium-sized en...