Indian Tourism Industry: Current Trends and Future Outlook

Abstract

The tourism industry certainly has been a formidable pillar as an unfailing and reliable source of revenue and capital for many nations. Many countries have been elevated from poor to appreciable economic statuses as a result of the invaluable contributions their tourism sectors have succeeded in adding to their overall economic growth. Tourism is a major engine of economic growth and an important source of foreign exchange earnings in India. Over the last decade, India has been the fastest growing tourism region in the world. This chapter primarily aims and seeks to identify and examine the paradigm shifts in the tourism industry over the seeming years and how the trends have behaved in India. It seeks to study the current trends in the tourism industry and evaluates the role of tourism in economic development. The future outlook is bright for the tourism sector, and the region is expected to maintain a high rate of growth well into the next century. The chapter contributes to an improved understanding of economic growth of a country because of tourism development.