GROWTH OF TRAVEL AND TOURISM INDUSTRY

Tourism has emerged as the third largest net earner of foreign exchange for the country recording earnings of US $ 5731 million in 2005, a growth of 20.2% over 2004, according to a release from the Union Ministry of Tourism. In 1951, international tourist arrivals stood at around 17 thousand only while the same has now gone up to 3.91 million in 2005. Tourism in India has registered significant growth in recent years. The upward trend is expected to remain firm in the coming years. It is also one of the sectors that provide huge employment opportunities. The Indian Travel & Tourism economy is ranked number - 22 in Absolute Size worldwide - 156 in Relative Contribution to national economies - 3 in Long –term (10 year) growth, 174 countries estimated by WTTC/OEF) Under the above backdrop, let me present before you an interesting discourse for your cerebral exercise. It will spot on the growth of the Indian Tourism and Travel Industry in the Worldwide economic and social scenario.