Tourism industry: The cash cow industry for fostering the economic development of India

Abstract

Tourism feeds the economies of many countries in the world. The scope of tourism industry extents to areas such as hospitality, transportation, travel facilitation and attractions and entertainments of various kinds. As per the report of United Nations World Tourism Organization, tourism is firmly established as the number one industry in many countries and the fastest-growing economic sector in terms of foreign exchange earnings and job creation. However, India needs to go a long way in this direction to make the country as the most demanded tourist destination in the world.