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Industry & Economy - Tourism


Expenses on tourist outflows exceed revenue from inflows

Sudhanshu Ranade

Chennai , Sept. 8

REVENUE from tourism which was, until as recently as 1997, critical for balancing the current account in the country's balance of payments, increased by about 50 per cent over the past 10 years. Year after year, without exception.

From $2.2 billion in 1995 to $3 billion in 2004 - when, for the first time ever, expenditures on tourist outflows (under various categories, including shopping abroad via international credit cards) exceeded revenue from tourist inflows; by about half-a-billion dollars.

Taking into account changes in the exchange rate, tourist outflows increased 10-fold from Rs 1,600 crore in 1995 to Rs 1,67,000 crorein 2004. Year after year, without exception.

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