What is the economic importance of tourism in India?
Despite the massive transformation that the Indian economy has undergone in the past decade or two, I would say that the economic importance of tourism is still quite pressing. Simply put, "tourism is the largest service industry in India." India's pursuit of liberal economic policies since the early 1990s has allowed it to expand its economic base in terms of production, employment, and the development of new revenue streams. While many of the world's economies are struggling, India faces impressive growth. However, its dependence on tourism has not changed. In the next seven to eight years, India is expected to generate over 250 billion US Dollars for the nation. This would help to justify how the tourist industry is so important for India. In an economic setting where different regions in India experience differing levels of growth, tourism seems to be the constant for all regions, in that tourism impacts all of them to a great economic extent. With what is widely considered to be one of the largest sectors for tourism growth potential, the impact of tourism on the Indian economy is impressive.