1.1. Introduction With increased arrival of tourists to India travel and Tourism has become an integral part of India. Tourism Industry is a multibillion industry in India and the liveliest tertiary activity. Driven by the focus on innovation and creating value for tourists, India has emerged as a popular tourist destination in the world. It succeeded in changing the attitude and the way we look at the foreign tourists by emphasizing on the aspect that a guest has been held in high respect in India since ancient times.
As a worldwide occurrence it forms a very important part of the service sector strongly influencing the economy (Ninemeier and Perdue, 2005). Over decades, tourism has generated more than billions of tourists all over the world (Shuib and Bulan, 1996). However, due to the increasing number of international tourists around the world, there is also an increasing amount of income earned from visitor spending. Additionally, these travelers tend to spend for accommodation purposes, food and beverages, transportation, entertainments, sightseeing, and shopping at a particular destination. Therefore, income of tourists is a very significant factor which tends to affect the economy of the country.
Tourism is regarded as the world’s largest industry and is expected to develop and continue to grow in the future. Tourism has becoming one of the main bolster of country’s sustainable growth and development. Tourism has also becoming more popular because of globalization, especially business tourism. Business tourism is defined as leisure activities in combination with business tourism. Business tourists are less cost than leisure tourists (International Trade Centre, 2001).
Hospitality is an expression of welcome by local residents to tourists arriving in their community (i.e. hotels, guest houses, apartments, and condominiums). The attraction and event sector can be defined as theme parks, museums and galleries, national parks, heritage sites and centers, and festival and events. The transportation sector includes airlines, shipping lines, railways, bus operators, and car rental
Nowadays, event industry tends to play significant role in terms of establishing communities, businesses and cultural enhancement. The rapid development in the event management industry leads to higher demands and experienced as well as effective planning, managing and monitoring activities. Owing to the improvement of the events management industry, event development activities has been efficiently acquired the valuable position for the research. With the passage of time, event industry in modern business society has acquired growing position due to number of reasons such as it increases the participation of governmental institutions in reference to improve event support. At the same time, there is rapid development identified in tourism and hospitality events as they significantly helps in attracting tourists and generates varied social as well as economic benefits (Jones,
It is a multi-segment industry while gauging the positive economic effect of tourism, its contribution to the generation of national income, expansion of employment opportunities, increasing of taxes, revenue, and generation of foreign exchange and transformation of regiment economy. Tourism industry is a heterogeneous industry made of complex components. This intangible perishable service industry is getting the right business curve backed by information and communication technology now-a-day. IT enabled tourism has different aspect such as direct booking , easy payment for the end users, business to business trading for product providers, travel agents and resellers. ICT has become the key component of tourism.
Tourist attractions and facilities provides income for stake holders and create a job for the local community. According to Stynes (1997), the travel and tourism sector can a variety of positive economic impacts as discussed below: 1. Increase in domestic income and foreign currency earnings Hosting an event like Olympics is the increase in domestic and international tourists. This increasing number of tourists illustrates that there will be a huge involvement of investors for making big profits which will result in maximum domestic income and earning foreign currency. All the tourism sector generates income and wealth from the smallest income to the billions of dollars mainly in Tokyo.
The sharp increase in the number of tourists, business travelers, and students participating in international educational programs is reflected in the change of the hotel sector. With a growing number of people, traveling abroad is increasing and the number of accommodation facilities. To counter the competition, running a successful business in a saturated market, companies need to offer to increase power, to expand. Hotel chains or networks are the most efficient form of organization of the hotel business at the present stage. Proper management of the process of formation of hotel chains in the market of tourist services is an essential factor for
Introduction Tourism is a major source of income to many countries, and affects the economy of both the source and host countries. The tourism industry of India is economically important and is growing rapidly. Potential for travel industry in India is enormous. India, a tourism hotspot in the world, has a substantial number of visitor attractions to boast of. Its widespread diversity has always attracted both foreigners as well as its own citizens alike, to explore its mirth and gaiety that it has to offer the world.
1 INTRODUCTION Over the past few decades, the tourism industry has experienced continued growth and diversification. According to World Tourism Organization, tourism sector is considered as the biggest and one of the fastest growing industries worldwide. Nowadays, tourism plays an important role in economy of most of the countries, and it is connected to development and an increasing number of destinations worldwide. (UNWTO, 2016) As cultural tourism market is rapidly growing, the factors affecting the decision to travel has also changed. Nowadays, when booking a holiday, the destination image is not the only main factor in decision making process, but there are also other significant factors or trends based on tourists’ interests and values.