ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Detailed explanation-1: -The fact that the tourism industry in India has grown substantially over the last three decades can be supported by the following points: There has been an 11.8% increase in the arrival of foreign tourists in India, in the year 2010, compared to the previous year that is 2009.
Detailed explanation-2: -The tourism industry has developed a lot in India because, India has a rich cultural heritage. There are places of worship of different religions, pilgrimage centers, confluences of rivers, forts, caves, etc. all over our country. Tourists from our country as well as from abroad travel in India throughout the year.
Detailed explanation-3: -India’s travel and tourism sector is predicted to develop at an average annual rate of 7.8% over the next ten years, outpacing the country’s overall economic growth rate of 6.7%, and eventually account for 7.2% of the country’s GDP, or over $33.8 trillion (U.S. $457 billion).
Detailed explanation-4: -Tourism in India has been seen as a major tool to bring about socio-economic development to the people of the country. India’s tourism industry has grown steadily in recent years. Not only this, India Tourism industry also provides employment opportunities to several people from all parts of the world.