Indian Tourism Industry

The global recessionary trend has had its impact on Indian Tourism and Hospitality industry. There was a decline in the foreign tourist arrivals to India from 5.27 million in FY 2007/08 to 5.13 million in FY 2008/09 a decrease of 3%.

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The foreign tourist arrival in March 2009 was 4.72 lakh as compared to 5.41 lakh during March 2008, a decrease of 12.8%. Consequently foreign exchange earning during March 2009 was USD 867 million as compared to USD 1248 million in March 2008. Despite short and medium term setbacks, tourism revenues are expected to rise by 42% from 2007 to 2017, according to a report of Indian Brand Equity Foundation on Tourism and Hospitality.

source| Indian Hotels Co Ltd Annual Report