Impact of Tourism on Indian Economy with Special Reference to Jammu and Kashmir

Abstract

In order for any country's economy to thrive and expand, tourism must be promoted and developed. As reported by the World Travel and Tourism Council, India's tourism industry generated roughly 16.91 lakh crore in revenue in 2018, accounting for over 9.2 percent of the country's total GDP. Furthermore, it employed around 42.673 million people. With annual growth rates of 6.9 percent estimated to reach 32.05 lakh crore by 2028, this industry is quickly increasing over the globe and accounts for almost 9 percent of global GDP. Sustainable tourism is more ecologically beneficial since it provides people with employment and financial compensation while causing no damage to the environment. Tourism is recognised by the government as a sector with substantial potential for economic development and employment generation among the general population. People all across the world see tourism as a sector with enormous potential for economic growth and employment generation, and the government acknowledges this as well. World tourism groups, such as the World Tourist Organization, have established that India has a substantial tourism development potential, especially for developing nations. Several nations, including India and China, are anticipated to have established themselves as global tourist heavyweights by 2020, according to forecasts. As a result of tourism's severe environmental consequences, despite the industry's rapid rise in recent years and promising growth prospects, there is growing worry over the industry's long-term sustainability as a development paradigm. Tourism has negative consequences on the environment, since it reduces the carrying capacity of the ocean's ecosystem. Tourism has detrimental consequences on the environment, impacting the carrying capacity of the region, the flora, the air quality, bodies of water, the water table, wildlife, and the natural environment. Tourism has a negative impact on the environment. The concept of ecotourism is gaining popularity since it has the potential to be helpful in the long term to the growth of the tourist industry. In addition to providing employment and cash to local communities, ecotourism has the potential to generate much-needed foreign currency for national governments, all while protecting the long-term viability of natural resources. The primary objectives of this study are to evaluate the challenges and possibilities of Indian ecotourism, as well as the influence of ecotourism on the Indian economy, with particular emphasis on the tourist industry in Jammu and Kashmir.