ISSN 2229 -600X
IMPACT OF RECESSION ON TOURISM INDUSTRY
Sherwood College of Professional Management,Lucknow ABSTRACT Tourism industry has contributed enormously in the flourishing graph of India's economy by attracting a huge number of both foreign and domestic tourists travelling for professional as well as holiday purpose. Terror threat, swine flu scare and hike in air fares and above all the great economic depression hit the tourism sector hard in 2009 with number of foreigners visiting the country dropping by over six per cent. Foreign tourist arrivals continued to dip despite the Visit India 2009 scheme launched by the government offering several concessions to woo tourists. This paper focusses on the impact of global economic meltdown on Tourism industry in India as a whole with the case study of Lucknow city. Tour operators, Hoteliers, and other government officials of tourism were interviewed and make out the problems and propects of tourism industry. It also helps to analyse the remedial measures which could be taken at the time of reecssion. Key words: Recession, Tourism, Medical Tourism, Economy, Rail Tourism
Vandana Nigam & Surabhi Srivastava
INTRODUCTION Tourism, nowadays is one of the most popular way of spending free time. It is higly developed in almost all countries, mainly because of material profits it brings. But unfortunately, there is the other side of the coin too, especially if it comes about foreign tourism. From educational point of view, travelling lets people to see world, other peoples, culture and traditions. It is said, that “travelling broadens” and most people consider, it does. At the same time, tourists who has not wide knowledge about World, can “see the grass greener on the other side of the fence”. It causes danger of discontent with country that person live in, what entail complaints and dissatisfaction. Also economical aspect plays huge role in domestic market economy. Lot of people works in tourist branch what is often their only source of income. What is more, there are some countries - like Malta for example - where tourism is basis of all its revenue. Howewer, if all field are tourist-minded, prices are inflated what is huge drawback for natives.Travel has played a very important role in fulfilling the basic needs of human beings. Now-a-days Travel and Tourism has acquired the status of an industry. It is a dynamic and smokeless industry, not a static one. As a service sector, it can be used to enhance international understanding, communal harmony, global peace and cultural exchange. Travelling for pleasure is tourism. Tourism today requires instant transmission of information. As a result, it is closely associated with the modern techniques of communications like internet, satellite etc. In India, Travel and Tourism has become the largest employment generating industry. On the one hand, it promotes income generating activities and on the other, it helps the nation to pocket some foreign currency without any export activities. Tourism is the industry of this century.
This smokeless industry’s vast capacity to support the economy, generate employment opportunities and many other unique features makes it stand out from other industries. Countries all over the world have acknowledged the importance of tourism and its scope in the development of a nation. Tourism offers unlimited opportunities in career development. Travel & Tourism business employ an estimated 100 million people world wide. Studies show that job creation in tourism is one-and a-half times faster than any other industrial sector. International and domestic tourism combine to generate up to 10% of the World’s Gross Domestic Product. The world’s leading travel and tourism journal, “Conde Nast Traveller”, ranked India amongst top 4 preferred holiday destinations in the world. There has been a significant increase in the number of foreign tourist arrivals during 2006....