Topic Details (Notes format)

Tourism and Hospitality Industry

Subject: Economics

Book: Comprehensive Indian Economy

Tourism generates foreign exchange, creates employment, and promotes cultural exchange. Initiatives like PRASAD (pilgrimage rejuvenation) or Swadesh Darshan enhance infrastructure around key heritage sites. Medical tourism is a fast-growing niche, leveraging cost-competitive health services. Despite potential, the industry faces bottlenecks in connectivity, hygiene, and skill deficits among service staff. Students should highlight synergy with allied sectors—transport, handicrafts, local SMEs—and how digital marketing or e-visa policies boost inbound travel. In exam answers, connect tourism growth to local community benefits, balanced with preserving cultural heritage and ecological concerns.

Practice Questions

Which term refers to the decrease in the value of a currency relative to foreign currencies?

View Question

What is the term for the price at which demand and supply in a market are equal?

View Question

Which of the following is an example of a public sector undertaking (PSU) in India?

View Question

Which economic concept is described as “the next best alternative foregone”?

View Question

Which of the following measures is most effective in controlling inflation?

View Question

What is the meaning of “dumping” in international trade?

View Question

Which of the following is NOT a function of the World Trade Organization (WTO)?

View Question

What is the main aim of Public Distribution System (PDS) in India?

View Question

What is meant by “liquidity trap”?

View Question

What is the main feature of a free-market economy?

View Question