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US Recession Impact on Indian Travel Tourism
US Recession Impact on Indian Travel Tourism
Recession is basically a decline in the GDP, i.e. Gross Domestic Product of a country and its growth for basically two or more than two quarters in a year.
New Delhi,
Delhi,
India
(prbd.net)
29/10/2011
Recession is basically a decline in the GDP, i.e. Gross Domestic Product of a country and its growth for basically two or more than two quarters in a year.
The tourism sector in India was growing at very fast pace in the last few years and was one of the top fastest growing sectors in the country. All of a sudden, it seemed that India became the top destination for everyone as travelers from huge numbers were coming from around the world, especially from UK and US, which were the main countries who shared a large part of the share of travelers, but it all came down the year, US was hit by the recession. The United States (US) recession impacted almost every economy in the world and one of them was India. The result of this slowdown was easily seen in the tourism sector of India. Travel agents and hotels reported a 20 – 25% downfall in the leisure and vacation bookings and even other sources revealed that there was an immense cut down from the travelers. Though the epicenter of the problem lied 16,000 miles far in the US, but the effects of the same can be easily seen in India.
India highly relies on US for business and leisure related travelling and tourism and thus the recession over there hit the Indian tourism economy hard because of a marginal dip of spending of money for leisure and travelling purposes by the Americans.
Now with the time, there has been a slight demand in the hard-hit travel industry of India. The recent data of August showed that there has been an increase of 3.1 % in the number of FTA’s (Foreign Tourist Arrivals) when compared to the same period in 2010. But again, there are clouds of Recession on the US and thus the Indian tourism industry should be prepared against the risk of this recession.
Contact for more information….
PR Contact:
Ravi Gusain (managing director)
Erco Travels Pvt. Ltd.
F 204-206, Ashish complex, LSC
Mayur Vihar Phase-I
Delhi-110091(India)
Tel : +91 11 45329914
Fax : +91 11 2275 5049
Email: info@ercotravels.com
Web: http://www.ercotravels.com
About
ErcoTravels won the National Tourism Award for Outstanding Performance in 2008, given by Ministry of Tourism in India, as an Inbound Tour Operator. Accredited by IATA, it is an active member of IATO, TAAI, USTOA, and ASTA. Our customers are safe in the knowledge while they are in India that Erco has a good professional team & English speaking guides to ensure that our Customers have an enjoyable tour & stay in India.
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