Why is tourism considered as a trade?
Answer
The exchange of commodities and services for money is known as trade. Tourism industry in the last few decades has grown exponentially as an important business sector. Some of the reasons for that are:
- Tourism provides support to local handicrafts.
- Many people are directly employed in the industry.
- India has a booming market for medical tourism, eco-tourism, adventure tourism, cultural tourism and business tourism.
- Travelers from other countries contribute to foreign reserves .