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Significance of Tourism as a Trade

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  • Last Updated : 06 May, 2022

In our daily lives, we use a variety of goods and services. Goods and services do not automatically migrate from supply to demand locations. Transportation is required to convey these products and services from their supply sites to demand areas. Traders play a role in arranging these transactions. As a result, a country’s rate of growth is determined by the creation of commodities and services as well as their movement across space. As a result, efficient modes of transportation are required for rapid development.

India’s Trade

Traders have always sought new markets and have been natural globalizers. Spices from India were so valuable in Europe that Christopher Columbus was paid to find a shorter sea route to India. The East India Company was also established for the purpose of trading.

Trade is the exchange of goods between individuals, states, and countries. The market is where such transactions take place. International trade refers to trading between two countries. It could take place on the water, in the air, or on land. Local trade occurs between cities, towns, and villages, whereas state-level trade occurs between two or more states. The advancement of a country’s foreign trade is a barometer of its economic progress. As a result, it is regarded as a country’s economic barometer.

India has trade links with all of the main trading blocs as well as all of the world’s geographical areas. Gems and jewellery, chemicals and associated products, agriculture and allied products, and other items are among the items exported from India to other countries.

Tourism as a Trade

Over the previous three decades, India’s tourism industry has risen significantly. 15 million people are directly employed in the tourist business. Tourism also contributes to national integration by supporting local handicrafts and cultural endeavors. It also contributes to the growth of international awareness of our culture and heritage. Heritage tourism, ecotourism, adventure tourism, cultural tourism, medical tourism, and business tourism are all popular among foreign visitors to India.

In all sections of the country, there is a huge potential for tourism development. For this emerging industry, efforts are being undertaken to promote various sorts of tourism.

Tourism Industry of India

Despite the fact that the pandemic has impacted practically every area of the Indian economy, the travel, tourism, and hospitality industries have been the hardest hit. According to the World Travel and Tourism Council, India’s tourism and hospitality sector will loose roughly 42 million jobs. Given the importance of the tourist industry in the Indian economy, it is necessary to address the underlying issues and develop an appropriate policy for overall growth.

Importance of the Tourism Sector

  1. Travel, tourism, and hospitality may generate a lot of jobs, which is vital for India’s demographic dividend because 72 percent of the population is under the age of 32, with an average age of 29.
  2. A bonus feature of the travel and tourism industry is that it not only creates high-quality jobs, but it also boosts investment in India, accelerates development, and promotes India’s unique resources, making it a soft diplomacy instrument.
  3. From 38 UNESCO World Heritage Sites to various physiographic features to medical and wildlife tourism, India provides incredible diversity in tourism.

Ways to enhance trade by tourism

  1. A post-pandemic approach for the sector may be a campaign focusing on domestic tourism and showcasing what the country has to offer Indians.
  2. Government funds or NGOs/Corporate Social Responsibility (CSR) initiatives should be used to undertake and complete the conservation and development of all heritage assets.
  3. Local communities must be linked to tourism by encouraging them to start small businesses that supply the sector (accommodation, food, and material).
  4. In the future, technology has the ability to significantly reduce the number of physical touchpoints in hotels, which is crucial for safe and sanitary tourism.

Sample Problems

Question 1: What is the use of pipelines transport?

Answer:

Pipelines transmit crude oil, petroleum products, and natural gas from the oil and gas fields to refineries, fertilizer facilities, and large thermal power plants.

Question 2: After independence, which port was the first to be developed?

Answer:

Kandla in Kachchh was the first port built after independence to relieve the pressure on Mumbai’s port due to the loss of Pakistan’s Karachi port following Partition.

Question 3: Which states have established particular provisions to provide aviation services to the general public?

Answer:

Only in the north-eastern states are specific preparations made to make aviation services available to the general public.

Question 4: How has tourism as a trade has flourished in India.

Answer: 

  1. In 2004, compared to 2003, there was a 23.5 percent rise in foreign exchange contributions.
  2. Every year, around 2.6 million foreign tourists visit India.
  3. The tourist business directly employs about 15 million people in the country.
  4. Because people from India go from one place to another, it encourages national integration.
  5. It contributes to the growth of international understanding. The culture and traditions of India entice foreign visitors.
  6. Tourists purchase a large number of things during their travels, which helps to support local handicrafts and cultural hobbies.

Question 5: Why are the waterways useful?

Answer:

  1. Waterways are the most cost-effective mode of transportation.
  2. It is a low-carbon, environmentally beneficial means of transportation.
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