Less tourists bring less exchange |
Latest data from the India`s tourism ministry appears to suggest that tourist arrvials have gone down and consequently foreign exchange earnings too. In fact , the growth in foreign tourist arrivals has dropped to a two-year low of 4.5% with 7.1 million visiting India till November 2015. Popular tourist haunts like Goa, Delhi, Maharashtra, Andhra Pradesh and Kerala have all shown a drop in foreign tourist visits in 2014 as compared to the previous year.Significantly, Russia strikes Goa (India) off its safe travel destinations list.Foreign tourist arrivals (FTAs) during the period January- November 2015 was 7.1 million with a growth of 4.5%, much less as compared to FTAs of 7.68 million with a growth of 10.2% in 2014. In comparison, India had received 6.97 million visitors registering a growth of 5.9% in 2013 from 2012. Thus, foreign exchange earnings have declined from USD 2023 million in 2014 to 1768.5 million reflecting a negative growth of 3.8%. Foreign exchange earnings in November 2015 registered a decline of a drastic 15.2% over November 2014 as compared to positive growth of 6.9% in November 2014 over November 2013. This could spell bad news since this is India`s peak tourist season.
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