Tourismindustryfinal 121012101814-phpapp02
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The document discusses the tourism industry in India. It notes that tourism accounts for 30% of the world's exports of services and 6% of overall exports. India is poised to become the 2nd fastest growing tourism economy in the world. Tourism contributes 7.19% to India's GDP and employs over 40 million people. However, the industry also faces challenges like lack of infrastructure, human resources, service levels, inadequate marketing and promotion, taxation, security and regulatory issues.
Tourismindustryfinal 121012101814-phpapp02
- 1. Tourism Industry Industry Analysis RRoollll NNoo :: 4455--5511
- 2. Introduction Tourism is travel for recreational, leisure or business purposes. The World Tourism Organization defines tourists as people "traveling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes".
- 3. 1. Tourism brings in large amounts of income in payment for goods and services available, accounting for 30% of the world's exports of services, and 6% of overall exports of goods and services. 2. According to World Tourism Organization estimates, India will lead in South Asia with 8.9 million arrivals by 2020. 3. India is poised to emerge as the 2nd fastest growing (8.8%) tourism economy in the world over 2005-14 according to the World Travel & Tourism
- 6. PEST Analysis Political Hefty Taxation Diktat of local or state government Political Stability Govt. spending on tourism & travel Economical Foreign Exchange Rate Elasticity of Demand Efficiency of Economy Business Cycle
- 7. Social Different languages, cultures, traditions, cuisines Respect & entertaiment of guests embedded in culture itself Technological Increasing role of web & internet Facilitates Online Booking Efficiency of Economy Providing customers with easy payment facility via online and use of credit cards and wi-fi facility on the go, easy recharge of mobile phones etc.
- 9. Quick Facts
- 11. Indias Rank: 40
- 13. About 7.19% of the countrys GDP comes from tourism and it provides employment to over 40 millions of the countrys workforce. For every INR 1 million of investment, the number of jobs created is as follows: Industry 18 Agriculture 45 Travel & Tourism 78 100 percent FDI in developing tourism infrastructure in India: According to a WTTC report, Indias travel and tourism industry have directly contributed INR 63,160 crores the GDP in 2013, allowing 100% foreign direct investment in hotel infrastructure development. This will prove to be a major growth driver for the industry.
- 16. Emerging new products in Tourism 1. Golf tourism 2. Education Tourism 3. Domestic Tourism 4. Luxury Trains 5. Wedding 6. Eco-Tourism 7. Tea Tourism 8. Sports Tourism 9. Medical Tourism
- 17. Challenges 1. Lack of proper infrastructure 2. Human resources 3. Service levels 4. Lack of adequate marketing and promotion 5. Taxation 6. Security 7. Regulatory issues
- 18. Strategies Product development- Customised services Specific location oriented packages. Low cost packages. Web and E-commerce Rising users of internet Establish, attract and facilitate sporting, recreational, cultural and other major events