Your question: How can tourism be considered a trade?

Tourism is considered as a trade: (i) Foreign tourist’s arrival in the country contributing to foreign exchange. (ii) Many people are directly engaged in the tourism industry. (iii) Tourism provides support to local handicrafts.

Why is tourism consider as a trade?

Tourism can be considered as a trade because : It involves exchange and buying/selling of products. The products can be defined in terms of holiday packages , hotel rents, means of transport and hospitality etc. Exchange of cultures take place and these exchanges are in monetary terms.

How does tourism act as a trade?

(i) Tourism in India has grown substantially over the last three decades. (ii) Foreign tourist’s arrival has witnessed an increase, thus contributing to foreign exchange. (iii) More than 15 million people are directly engaged in the tourism industry. (iv) It provides support to local handicrafts and cultural pursuits.

How will you evaluate tourism as a trade?

Significance of tourism as a trade in India : … (b) Foreign tourist’s arrival has witnessed an increase, thus contributing to foreign exchange. (c) More than 15 million people are directly engaged in the tourism industry. (d) It provides support to local handicrafts and cultural pursuits.

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How reliable is tourism as an industry?

Answer: Tourism is just as reliable as any other industry in the world. And, the fact, that countries like the UK, France, Germany and Turkey, along with a number of other countries in the world, are earning huge revenue from this “lucrative” industry year after year, suggests that tourism is a reliable industry.

Why is tourism known as trade Class 10?

tourism is basically a travel for pleasure or business and also the theory and practice of touring… Explanation: tourism is known as trade because Foreign tourist’s arrival in the country contributing 21828/- crore of foreign exchange.

Is tourism considered in international trade?

Tourism and Development

International tourism accounts for roughly 30 percent of global trade in services. For many developing countries, tourism is far more important than this global average figure suggests. It constitutes the single largest foreign exchange earner, generating a net surplus in travel services.

Why is tourism considered as a trade as well as an industry 5m?

‘Tourism’ is considered as a trade and industry in India because of the substantial growth it has experienced in the past three decades coupled with an increase in the arrival of foreign tourists.

How tourism as a trade or industry help in development of economy?

Answer: It creates new job and employment opportunities. It stimulates trade, income and entrepreneurship – especially in small business sectors. The provision of new infrastructure which is available for non-tourism uses.

What is tourism and international trade?

Abstract. In the theory of international trade tourism was never mentioned explicitly. … The difference between trade and tourism is the fact, that the tourist travels to another country and consumes different goods and services there, whereas trade brings goods of the foreign country to the consumer.

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