Impact of Tourism in India
Keywords:
economic growth, financial development, India, tourism, unidirectional causalityAbstract
The tourism industry is one of the most significant parts of the planet’s economy. It is currently considered a proficient instrument for advancing the monetary development of the host nation. In the last few decades, the travel industry in India has been developing at a fast pace and it has immense potential for creating business and procuring enormous measures of outside trade other than giving a fillip to the nation’s financial and socio-social improvement. It is along these lines basically to look at the elements of the connection between the tourism industry part extensions also, financial development in India. This paper is an endeavor toward this path. The investigation utilizing well known time arrangement models for the period traversing from 1978 to 2009, gives the proof of long-run unidirectional causality from the tourism industry exercises to financial development of the nation. In this way, as a piece of the strategy suggestions, it is important that all wings of the local and state governments, private bodies and intentional associations ought to become the dynamic accomplices in the undertaking to accomplish reasonable development in the tourism industry and by and large economy too.
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