The world economy is slowly getting out of woods, which is good news for both the developed world and emerging economies. Most sectors in the Indian economy have shown resilience during the global turbulence and are slowly moving towards normal growth trajectory.Though many sectors have shown significant improvement, the tourism sector in India it seems will have to wait a bit longer to confidently relish a sustained upward journey in foreign tourist arrivals.The August statistics released by the Ministry of Tourism reflects a decline of 8.6 per cent at 3.58 lakh in foreign tourist arrivals (FTAs) as compared to positive growth of 0.2 per cent and 0.6 per cent in June 2009 and July 2009 respectively. FTAs during the Month of August 2009 were 3.58 lakh as compared to FTAs of 3.91 lakh during the month of August 2008 and 3.58 lakh in August 2007. FTAs during January - August 2009 at 32.57 lakh were lower as compared to 35.40 lakh in January - August 2008. However, the travel trade can feel some respite in the fact that the foreign exchange earnings (FEE) from tourism in during the month of August 2009 were higher at $ 851 million as compared to $ 845 million in August 2008. Though, FEE during January - August 2009 was $ 6.8 billion as compared to $ 8.1 billion during January - August 2008.
Source: Statistics released by the Ministry of Tourism
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