Affiliation:
1. Indian Economic Service, India
Abstract
The travel and tourism sector is an important economic sector that contributes to the national income through job creation and export promotion. The sector accounted for 10.4percent of global GDP, 319 million jobs, and 9.9percent of total employment in 2017 In the same year, India was the seventh largest country after USA, China, Germany, Japan, UK, and Italy in terms of the contribution of T&T sector to its overall GDP growth. In absolute terms, the contribution of T&T sector to overall GDP was US $ 234 billion at real 2017 prices. As percent of overall GDP, the contribution of T&T growth in 2017 for India was 9.4percent and Australia 11percent against a global average of 10.4percent. Thus, T&T sector is important to both India and Australia and can be studied further for unlocking business and trade opportunities which could be of mutual interest to these countries.
Reference7 articles.
1. Bhat, T. P. (2015). India: Trade in Healthcare Services. Working Paper 180, Institute for Studies in Industrial Development. Retrieved from https://ideas.repec.org/p/sid/wpaper/180.html
2. Australia and India: the Indian Ocean and the limits of strategic convergence
3. Bureau of Immigration. (2017). Tourism Growth in India: 1981 to 2016. Government of India. Retrieved from https://www.indiastat.com/tourism-data/29/foreign-tourists/280/stats.aspx
4. Kumar, S. (2016). Skill Development in India for tourism and hospitality sector. Journal of Information, Knowledge and Research in Humanities and Social Sciences, 4(1).
5. Medhekar, A. (2019). Emerging Trends of Wellness and Medical Tourism in India. in S. Paul & S. K. Kulshreshtha (Eds.), Global Developments in Healthcare and Medical Tourism. Academic Press.