Impact of Economic Variables on Indian Tourism Sector: An In-depth Study
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This paper discusses the impact of economic indicators on the tourism sector, with particular reference to the state of Himachal Pradesh. Tourism is a growing industry in Himachal Pradesh. The state has beautiful Himalayan landscapes and excellent hill stations. The government runs infrastructure projects to improve road transport, air connectivity, railways, and communication networks. The study data comprises tourist flow and the state's GDP. The Hypotheses developed in the study are tested with statistical tools like regression analysis, ANOVA, and Student's t-test. The number of tourists inflow and the state's GDP are significantly correlated. Gross domestic product and the number of state visitors are increasing continuously, but were halted due to the coronavirus pandemic. It is also ascertained that the revenue generated from the tourism sector of Himachal Pradesh and Himachal Pradesh's GDP are significantly correlated.
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