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Role of Tourism in Economic Growth of India
Abstract
This chapter evaluates the role of tourism for economic growth of India. Tourism and hospitality sector contributes 6.8% in India's GDP. For a country with 30 world heritage sites and a rich culture, tourism and hospitality industry has great potential to enhance tourist flow and accelerate economic growth due to multiplier effect of tourism on job creation. The descriptive research design is used for the study. The study examined the correlation of economic variables on foreign tourist arrivals. The paper evaluated the success stories of Kerala and Gujarat as a case of focused approach towards tourism. Secondary source of data is used to examine the trend of tourism and its role in economic growth of the country. Gross domestic capital formation was found to have highest correlation with foreign tourist arrivals. Growth rate of foreign tourist arrival is found to have significant positive correlation with growth rate of service sector in India and gross state domestic product of Kerala and Gujarat.
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