Travel and Tourism Industry

Before dwelling in detail on the tourism industry, we have to understand what tourism means. It can be defined as the activities undertaken by people traveling to a place different from their homeland for sporadic periods of time, which may be for purposes of leisure or business.
Tourism can also be broadly seen as a commercial organization to further the economy of the country. In this context, Indian tourism is a booming corporation.
Tourism can broadly be categorized under outbound, inbound and domestic tourism. These three definitions are from a first-person perspective, where a person and a place are kept constant.
  • Outbound tourism can be defined as residents of a particular state moving out of their place to visit other places.
  • Inbound tourism can be defined as residents of a different state visiting one’s own land for tourism purposes.
  • Domestic tourism can be defined as travelling within the same country but a place that is at least 80km away from one’s home


The travel industry additionally has an across the board financial impact. Measurably, as per the World Tourism Organization, roughly 698 million individuals travel to an outside nation in a year. This is demonstrative of the vast financial lift that inbound the travel industry accommodates a host nation. 

Monetary effects of the travel industry 

It outperformed that of the oil partnership or the fare enterprise. Another essential monetary impact of the travel industry is work creation. As per the 2017 Economic Impact Report by the World Travel and Tourism Council demonstrates that the business creates one out of 10 occupations around the world.

Tourism Industry contributes 6.23% to the country’s GDP (Gross Domestic Product) and 8.78 % of the total employment leading to the largest service Industry in India. The export earnings from international visitors are expected to generate US $51.4 billion by 2019.
By 2020, Tourism Industry is expected to contribute Rs 8,50,000 cr. to the GDP which means that every individual could become richer by 7000 Rs.

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