Travel and leisure in India

 Tourism in India Composition

European Journal of Social Sciences – Volume 18, Number 4 (2011)

Causality among Tourism and Economic Expansion: Empirical Data from India P K Mishra Siksha O Anusandhan University, Bhubaneswar, Orissa, India E-mail: [email protected] com Himanshu B. Rout Siksha U Anusandhan School, Bhubaneswar, Orissa, India Email-based: [email protected] com Smita T. Mohapatra Siksha O Anusandhan University, Bhubaneswar, Orissa, India E-mail: [email protected] com Abstract Tourism is among the most important groups in the world economic climate. It is now considered as an efficient application for advertising economic regarding the host country. Seeing that last few decades, tourism industry in India has been developing at a rapid pace and it has huge potential for producing employment and earning massive amount foreign exchange besides giving a fillip to the country's overall economical and socio-cultural development. It can be thus very important to examine the dynamics in the relationship between tourism sector expansion and economic progress in India. This conventional paper is an effort in this path. The study employing popular time series models for the period spanning by 1978 to 2009, supplies the evidence of long-run unidirectional connection from travel activities to economic growth of the country. Therefore , as a part of the policy significance it is necessary that wings with the central and state government authorities, private bodies and voluntary organisations should certainly become the effective partners inside the endeavour to attain sustainable expansion in tourism and overall economy as well.

Keywords: Travel, India, Monetary Growth, Cointegration, Granger Causality JEL Category Code: C21, C82, O11, O41, L83

I. Launch

In recent years, the role of tourism in the economic progress a country has been the focus of analyze and research. It is the general consensus that tourism has been pivotal in social progress as well as an essential vehicle of widening socio-economic and social contacts through human history. Within the last years, many developing and developed countries have considered travel and leisure as an option for environmentally friendly development of their nations. The importance of travel and leisure as a contributor to economical growth is indeed widely acknowledged that every single year throughout the world a tremendous investment continually pour in its development. Travel and leisure has surfaced from like a relatively modest activity as one of planet's largest companies and a fastest developing global economical sector worldwide economy through the 1960s onwards. The worldwide tourist arrivals have shown a continuous growth from 25 mil in 1950, to 681million in 1980, to 438 million in 1990 and also to 681million in 2000. The international traveler arrivals 518

European Journal of Interpersonal Sciences – Volume 18, Number 4 (2011) were 880 mil and the matching international tourism receipts was US$ 852 million last year. The visitor arrivals in Asia and the Pacific had been 181 mil and related tourism receipt was US$ 204 million. As per UNWTO estimates, the worldwide foreign tourist landings increased by simply 7 per cent between January and Summer 2010. Pertaining to the full 12 months 2010, UNWTO projects a rise in foreign tourist arrivals of between 3 to 4 per cent. In 2010, travel is anticipated to generate twenty-one. 7 per cent of community gross home-based product; twelve per cent of global capital purchases; 9 per cent of globally employment; and 22. two per cent of worldwide export products of goods and services. All these cast for any significant role of tourism sector inside the long-run growth of host countries across the globe. It was in 1945 which the first ever stage was taken to popularize the concept of tourism in India, by simply appointing the Sir John Sargent Committee which in 1946 submitted the report with suggestions of the formation of regional office buildings at Bombay, Delhi, Calcutta and Madras. And, it came into being in 1949 together with the set up of the Tourist Targeted traffic Branch along with two regional office buildings in Bombay...


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