Tourism is a human experience, a social experience, a geographical phenomenon, a resource value, and a business industry. It is a major social phenomenon of the modern society with enormous economic consequences. Its importance as an instrument for economic development and employment generation, particularly in remote and backward areas, has now been well recognized the world over. The industry today is globally recognized as a major economic contributor and employment generator. The investment flows into this field are constantly on the increase.
Facts and figures:
* According to WTTC the industry directly will contribute $2 trillion in GDP and 100 million jobs to the global economy in 2012
* Travel & Tourism is forecast to contribute some $6.5 trillion to the global economy and generate 260 million jobs – or 1 in 12 of all jobs on the planet.
* G20 report:
Research by the two organisations, released at the T20 Ministers meeting showed that G20 economies could boost their international tourist numbers by an additional 122 million, generate an extra US$ 206 billion in tourism exports and create over five million additional jobs by 2015 by improving visa processes and entry formalities. Findings showed that of the 656 million international tourists who visited G20 countries in 2011, an estimated 110 million needed a visa, many of whom deterred from travelling by the cost, waiting time and difficulty of obtaining a visa. Facilitating visas for these tourists, many from some of the world’s fastest growing source markets such as the BRICs, could stimulate demand, spending and ultimately create millions of new jobs in the G20 economies.
* Tourism in India is the largest service industry, with a contribution of 6.23% to the national GDP and 8.78% of the total employment in India. In 2010, total Foreign Tourist Arrivals (FTA) in India were 5.78 million and India generated about 200 billion US dollars in 2008 and that is expected...