Tourism in India

Marketing Perspectives

Saurabh Kumar Dixit

• Publisher: Routledge
• Year: 2021
• eBook ISBN: 9781000403909
• Edition: 1
• Topic: Business
• Subtopic: Development Economics
• Index: Business

Tourism is one of the fastest growing industries in India, contributing enormously to the Indian economy. Indian civilization and culture have followed the tradition of Atithi Devo Bhava (treating Guest as God) from time immemorial. Tourism in India is fairly rich and diverse in terms of its attractions and resources nevertheless the body of knowledge of tourism as a discipline is relatively unexplored in terms of scholarly research. The tourism industry in India has not been able to perform to its most impeccable potential due to several obstructions. Lack of efficient marketing and positioning of its tourism resources in the global market is one of the prominent causes of this. The Indian tourism industry cannot achieve the desired growth and impetus unless it is backed by intense promotional and marketing strategies abreast of the global business arena.

In this volume, an effort has been made to uncover a deeper understanding of marketing perspectives of tourism in India using an interdisciplinary approach. The chapters in this book reflect the prevailing scenario in the hospitality and tourism business in India as posited by renowned global experts on this subject. The book is an essential resource to students, researchers, and scholars interested in examining the existing marketing strategies as well as exploring the suggested strategies that can be adopted to promote tourism in India.

The chapters in this book were originally published as a special issue of Anatolia.

Corporate governance practices of Indian listed tourism & hospitality firms

Manjula Chaudhary

and Deepa Shrivastava

ABSTRACT
Corporate governance (CG) ensures transparency, accountability and protection of interests of different stakeholders. Paper studies the extent of adoption of CG norms in Indian tourism and hospitality industry between 2009–2016 by developing CG index. The study finds that there are standard CG practices and the differential nature of tourism are not factored in CG norms. The overall compliance of norms has increased overtime though variations can be seen among subcategories. Amendments in 2014 provided a comprehensive system and is identified as the main force for compliance. The compliance is more for mandatory norms and the international firms had better compliance than national firms. The CG index developed can be used in other studies for strengthening and to propel the growth.

Introduction

The tourism and hospitality industry in India is an important economic driver. It is the eigth largest economy in terms of GDP and forecasted to generate 8.1% of total employment by 2018. Its ranking has substantially improved in the global tourism competitiveness list from 52^nd in 2015 to 40^th in 2017 (Crotti & Misrahi, 2017). The year 2018 (till June) witnessed foreign tourist arrivals of 5.16 million with an annual growth of 14% and Foreign Exchange Earnings (FEE) of 14,625 million US$ with an annual growth of 12.9% (ITSG, 2018). Outbound tourism in 2017 was 23.94 million with an annual growth of 9.5% and domestic tourism was 1652.49 million with an annual growth rate 2.3% (ITSG, 2018). The big size and high growth rate of the tourism market in India is indicative of its potential. The onus of making the best use of the opportunities in tourism lies with the stakeholders of tourism industry such as tourism businesses, government, NGO’s, etc.

Government as an important stakeholder has supported the tourism industry through various initiatives including permission of 100% foreign Investment (FI) under automatic route to hotels (Policy, 2010). This liberalization of FI led to Foreign Direct Investment of 452 US$ million in restaurants and Hotels in 2017–2018 (RBI, 2018). Capital inflows in any industry require more than liberalization and investors prefer companies having professionalism, transparency, accountability in governance and consideration for ethical, social and environmental issues.

In this background, professionalism in the governance of Indian tourism and hospitality firms becomes important to get the required capital and growth in the industry. The far-reaching impacts of this industry in the preservation of historical-cultural resources and social benefits further strengthen the need of effective governance. The good governance of business organizations i...

Table of contents

• Cover
• Half Title
• Title Page
• Copyright Page
• Table of Contents
• Citation Information
• Notes on Contributors
• Foreword
• Introduction
• Bollywood induced international travel through the lens of the involvement construct
• Travelling to the Motherland: relating acculturation to diaspora tourism experiences
• Destination image, visitor experience, and behavioural intention at heritage centre
• Destination branding in tourism: insights from social identification, attachment and experience theories
• Trends in consumer behaviour and accommodation choice: perspectives from India
• Examining online ratings and customer satisfaction in airlines
• Corporate governance practices of Indian listed tourism & hospitality firms
• Motivation of students to study a tourism programme in India
• Themed route marketing in India
• Relationship between tourists’ local food experiencescape, satisfaction and behavioural intention
• Index