Home Press Tourism a major source of income

Tourism a major source of income


It is an important source of income for many countries, which accounts for 30 per cent of the world’s trade of services, and 6 per cent of overall exports of goods and services

Do you know tourism is one of the world’s biggest businesses? Today, tourism is a major source of income for many countries and affects the economy of both the source and host countries, in some cases being of vital importance.

Tourism is an important, even vital, source of income for many countries. It brings in large amounts of income into a local economy in the form of payment for goods and services needed by tourists, accounting for 30 per cent of the world’s trade of services, and 6 per cent of overall exports of goods and services. It also creates opportunities for employment in the service sector of the economy associated with tourism.

The service industries which benefit from tourism include transportation services, such as airlines, cruise ships, and taxicabs; hospitality services, such as accommodations, including hotels, restaurants, resorts, and vacation homes; and entertainment venues, such as amusement parks, casinos, shopping malls, music venues, and theatres. This is in addition to goods bought by tourists, including souvenirs, clothing, and other supplies through retailers and shopping arcades.

Tourism in India

In 2017, foreign tourist arrival in India stood at 10.177 million and reached 12 million in 2018.

The numbers of foreign tourist arrivals in February 2018 were 1.05 million as compared to 849,000 lakh in February 2016.

The growth rate in foreign tourist arrival in February 2018 over February 2017 was 10.1 per cent.

The Government of India has set a target of 20 million foreign tourist arrivals by 2020 and double the foreign exchange earnings as well.

The Government of India is working to achieve 1 per cent share in the world’s international tourist arrivals by 2020 and 2 per cent share by 2025.

Government initiatives

The government has taken several steps to make India a global tourism hub. Some of the major initiatives planned by the Government of India to give a boost to the tourism and hospitality sector of India are as follows:

 

The Government of India is working to achieve 1 per cent share in world’s international tourist arrivals by 2020 and 2 per cent share by 2025.

Under Budget 2018-19, the government has allotted Rs 1,250 crore (US$ 183.89 million) for Integrated development of tourist circuits under Swadesh Darshan and Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASAD). Source: IBEF

Are there enough jobs?

The travel & tourism sector in India accounted for 8 per cent of the total employment opportunities generated in the country in 2017, providing employment to around 41.6 million people during the same year. The number is expected to rise by 2 per cent annum to 52.3 million jobs by 2028.

The number of hotel rooms has increased from 94,000 in 2001 to 168,000 rooms in 2013 which will increase to 238,000 rooms in 2022. In addition, there are unclassified and unorganized accommodation units across the country, such as non-star hotels, apartment hotels, guest houses, lodges, inns, youth or YMCA hostels, dharamshalas, sarais, musafirkhanas, bed and breakfast units.

Yes, there are enough jobs in this industry.

Why you should join this industry?

Due to shortage of trained manpower, talent poaching has increased. Increase in the attrition rate is as high as 50 per cent across functions. Entry-level has even higher attrition rates. This is good news for graduates entering the industry. In the last decade, the age at which a person becomes a Manager has been reduced by five to seven years. Characteristics such as long and irregular working hours, high pressure situations, fast-paced work, and a heavy workload during festive seasons, define this sector which collectively is a cause of concern for current and prospective employees. So if you want a peaceful nine to five job, this is not suitable for you. This is an ideal place for all those who are willing to work hard and learn quickly.

 

Due to saturation in big cities, new properties will come up in smaller towns. Graduates from big cities are unwilling to move to smaller towns. This is good news for graduates in smaller towns, for two reasons—less competition and starts your career closer to home. The hotel industry today employs youth in significant numbers and hence you can expect a young peer group. In addition, this employee mix is cosmopolitan. Both these are great for young graduates.

Author: T Muralidharan
Name of publication: Telangana Today
Date published on: 01/10/2018
published in: Hyderabad
Tags: Employability

Leave a Reply

Your email address will not be published. Required fields are marked *