Contribution of Tourism Industry in Indian Economy: an Analysis
Rajender S. Godara1, Durafshan Jaihoon Fetrat2, Azatullah Nazari3
1Rajender S. Godara, Associate Professor, Department of Economics, Mittal School of Business, Lovely Professional University, Punjab India.
2Durafshan Jaihoon Fetrat, Student, M.Sc. Economics, Mittal School of Business, Lovely Professional University Punjab India.
3Azatullah Nazari Student, M.Sc. Economics, Mittal School of Business, Lovely Professional University Punjab India.
Manuscript received on February 10, 2020. | Revised Manuscript received on February 20, 2020. | Manuscript published on March 30, 2020. | PP: 1994-2000 | Volume-8 Issue-6, March 2020. | Retrieval Number: F8091038620/2020©BEIESP | DOI: 10.35940/ijrte.F8091.038620
Open Access | Ethics and Policies | Cite | Mendeley
© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The tourism and travel industry is the biggest and most diverse industry in the universe. The impact of tourism on increasing employment and foreign exchange earnings, the boom in domestic industries, the expansion of international cooperation have changed the attitudes of countries around the world and played an important role in the policymaking of Governments. So the purpose of this research paper is to investigate the Impact of Foreign Tourism Receipts growth on the growth rate economic in Indian economy during the period of 2000-2019. In this study we are using the Ordinary Least Squares method (OLS method).The results show that there is a positive relationship between economic growth rate and growth of foreign tourism revenue growth but this relationship is very weak its mean that the impact of the growth of foreign tourism receipt on economic growth is less; We can also say that there is no strong relationship between these two variables.
Keywords: Economic Growth, Foreign Tourism Receipts growth, Tourism Industry, OLS Method, Indian Economy.
Scope of the Article: Software economics.