International Tourism and Business Development in India

The value of pound is kept constant by intensive foreign exchange provided by the international tourist moreover air travel is intensively expensive and provides money to the Airways, travel and tourist industry. Sectors, which are directly or indirectly affected by hospitality industry, include various business sectors like shopping travelling adventure sports etc. The value of pound is kept constant by intensive foreign exchange provided by the international tourist moreover air travel is intensively expensive and provides money to the Airways, travel and tourist industry.

Contemporary Hospitality Industry
Contribution of Hospitality in Economy
The hospitality industry is booming at an accelerated
pace which results in massive growth in international,
national and local economies. This sector contributes
majorly in the gross domestic product, employment,
economic development our national income. Increase
cash flow is generated when a tourist spend the money
at hotels, restaurants and places of entertainment along
with indirect effects on the pharmaceutical industry,
retail goods industry and local craft industry.
Local and National Economy
. These also lead to development of public
infrastructure such as public transportation and roads
Hospitality industry provides a large number of
employments to people of UK. In 2017, alone 2.4
million people were employed in the hospitality
industry making it the fifth largest industry in the
country. The revenue generated by this industry was
in the ballpark of 90 billion pounds, which has
completely contributed to the GDP, and the gross
national income of the country. Apart from this,
around 53900 jobs were created in the restaurant
industry. The total contribution of this sector to the
GDP and the national income has been around 34
billion Euros in the year 2017. The hospitality
industry also helps in increasing the per capita
income of the country by providing such huge
number of jobs to the people. This raises the standard
of living of people in the country thus increasing the
other sectors growth by increasing cash flow.
International Economy
Sectors, which are directly or
indirectly affected by hospitality industry,
include various business sectors like
shopping travelling adventure sports etc.
resulting overall and economic
development of the country. International
tourism also helps the country in a great
way. The value of pound is kept constant
by intensive foreign exchange provided by
the international tourist moreover air travel
is intensively expensive and provides
money to the Airways, travel and tourist
industry. International shoppers also uplift
the local economy, as they tend to shop
more extensively does increasing the
revenue generated by the local economy.