Massive boost in tourism! India earns over Rs. 17000 crore by foreign tourist arrivals in Feb this year

New Delhi, March 22: India has become a centre of tourism since few years due to various efforts were taken by the central government which also led a massive surge in the economy of a country. Notably, Foreign Exchange Earnings (FEEs) during the month of February 2018 was Rs.17, 407 crore as compared to Rs.15,790 crore in February 2017 and Rs.13,661 crore in February 2016.

 

The highlights of the estimates of FEEs from tourism in India for February 2018 are as below:

Foreign Exchange Earnings (FEEs) through Tourism (in Rs. terms):

• FEEs during the month of February 2018 were Rs.17, 407 crore as compared to Rs.15,790 crore in February 2017 and Rs.13,661 crore in February 2016.
• The growth rate in FEEs in rupee terms in February 2018 over February 2017was 10.2%, compared to the growth of 15.6% in February 2017 over February 2016.
• FEEs during the period January- February 2018 were Rs.35,132 crore with a growth of 10.0%, as compared to the FEE of Rs.31,925 crore in January-February 2017 with a growth of 16.8% over January- February 2016.

Foreign Exchange Earnings (FEEs) through Tourism (in US $ terms):

• FEEs in US$ terms during the month of February 2018 were US$ 2.706 billion as compared to FEEs of US$ 2.354 billion during the month of February 2017 and US$ 2.001 billion in February 2016.
• The growth rate in FEEs in US$ terms in February 2018 over February 2017was 15.0% compared to the growth of 17.6% in February 2017 over February 2016.
• FEEs during the period January-February 2018 were US$5.492billion with a growth of 16.3% as compared to the FEE of US$ 4.724 billion in January- February 2017 with a growth of 17.1% over January- February 2016.

Based on the credit data of Travel head as available from Balance of Payments of RBI for the previous year, Ministry of Tourism estimates and releases the data of Foreign Exchange Earnings (FEEs) through tourism in India, both in rupee and dollar terms, for the current month applying suitable inflation factor and current month Foreign Tourist Arrivals data.

Interestingly, Tourism is a major engine of economic growth and an important source of foreign exchange earnings in many countries including India. However, as the tourism is flourishing, the country's economy is also getting a massive hike.