Economic Studies - Research Publications

Permanent URI for this collectionhttps://kr.cup.edu.in/handle/32116/141

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Author: search.filters.author.Rout, H.B.Has files: No

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    Empirics of Tourism-Led Growth in India, 1995 to 2016
    (ASERS, 2018) Rout, H.B.; Mishra, Pabitra Kumar; Pradhan, B.B.
    In the globalized world, the travel and tourism have been considered crucial for achieving inclusive growth, especially in less developed economies. It has been increasingly recognised as a good contributor to national income and employment. So it can be used an instrument for achieving a higher rate of economic growth of a country in the long-run. In this line of argument, this paper examined the causal relationship between tourism and economic growth in the context of Indian States/UTs in a panel data framework. The empirical findings support the tourism-led growth hypothesis in the long-run and growth-led tourism hypothesis in the short-run. Thus, the policy choice is to make the tourism instrumental, through its promotional strategies, for the inclusive and sustainable development of India.
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    Tourism in Odisha: an engine of long run growth
    (Conscientia Beam, 2016) Mishra, P.K.; Rout, H.B.; Sangmitra
    In this globalized era, travel and tourism has become an indispensable economic activity world over. It has the potential to strengthen the socio-economic foundation of a nation. It has the capability to disseminate the peace message across the globe. It is well-known for job creation, foreign exchange earnings, revenue and income generations, and developing socio-economic infrastructures. Thus, it is critical for unemployment reduction, poverty alleviation, inequality reduction, and bringing up balanced regional development. It is instrumental for achieving inclusive and sustainable growth of a nation like India and her States. It is with this backdrop, this paper is an attempt to assess the role of tourism in Odisha, an eastern State of India, as an engine of long-run economic growth. In recent years, tourism has grown considerably due to the availability of good infrastructure facilities, favorable government policies, improvement of existing tourist locations, development of new tourist destinations and strong growth of hotel and restaurant industry in the State. This is reflected in the growing number of both domestic and foreign tourists to the State. In a multivariate framework, the use of multiple regression model over the period spanning from 1990-91 to 2011-12 provides the evidence of the positive contribution of the tourism sector to the economic growth of Odisha thereby justifying the role of tourism as an engine of long term growth of the State. Hence, the government of Odisha should formulate plans and policies such that tourism activities are promoted to lead a stable and sustainable growth of the State.