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 A major source of foreign exchange

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Join date : 2009-07-08

PostSubject: A major source of foreign exchange   Wed Jul 08, 2009 5:21 am

The importance of tourism and other related activities is related to its social, economic, political, aesthetic and cultural effects and it does not need special emphasis. It is rightly felt that in Kerala tourism industry needs to turn competitive to open up vistas to earn more foreign exchange. When considering the contribution of this sun rise industry to the balance of payments, and the annual income of the country, the tourism industry undoubtedly creates additional employment and has resulted in raising the monthly incomes of a vast section of people that are directly or indirectly involved in it. Tourism is not only an economic activity of great importance to national development but also an important medium of cultural exchange among nations of the world. It has come to be accepted as a potent tool of social integration.

However, the importance of research as a necessary condition of tourism development is still far from being fully appreciated. Tourism is no longer an activity of adventure restricted to a few rich affluent and aggressive persons. It has assumed the status of a commodity of ‘mass consumption’ in Kerala. A few years ago sun, sea, favorable prices, natural scenery, hunting facilities and other artificially created amusement facilities was sufficient to attract a flood of tourists. But these are no longer sufficient as the international market, for tourism has become highly competitive.

Since several countries and several places within the country are now competing among themselves, a systematic quantitative and qualitative analysis of the tourist industry in India and especially in a state like Kerala has become highly essential. More studies must be undertaken to guide the investors into tourism infrastructure in the right direction. It will help to evolve strategies for long-term planning and ‘integrated approach’ for this vital sector of the Kerala economy. Since the year 1991, when the Indian economy was opened up as part of the liberalization process, major changes has occurred in the country. Kerala state has also witnessed a quantum jump in tourist arrivals since then.
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