We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Impact of saarc on Indian economy

essay
The whole doc is available only for registered users

A limited time offer! Get a custom sample essay written according to your requirements urgent 3h delivery guaranteed

Order Now

Impact of saarc on Indian economy

1) Impact of Recession on Indian Econom
Reason for Recession to occur

What happened was this: banks were approached by thousands of possible new home owners asking for loans. This was during a period where the United States real estate market was climbing fast, and the value of homes was rising quickly. The banks approved these ‘bad’ or ‘sub-prime’ mortgages under the mentality that if the new home owners were to foreclose, the property would have a higher value than what it originally was due to the climbing real estate market, meaning that the bank would not lose money but make a profit! What actually happened was that the real estate market crashed, and banks were out of pocket due to the massive numbers of foreclosures on mortgages occurring. This set off the global financial crisis, which led to a global economic downturn and the recession in most developed countries. All that because of some bad debts in the States! 2) Impact of Tourism on Indian Economy

Tourism can generate maximum employment opportunity because of a large number of subsidiary industries.

September 2008 and a 3.3 per cent growth in passenger traffic through September. The negative trend intensified during 2009, exacerbated in some countries due to the outbreak of the AH1N1 influenza virus, resulting in a worldwide decline of 4 per cent in 2009 to 880 million international tourist arrivals, and an estimated 6 per cent decline in international tourism receipts.

Definition of tourism
Tourism is travel for recreational, leisure or business purposes. The World Tourism Organisation defines tourists as people who “travel to and stay in places outside their usual environment for more than 24 hours and not more than one consecutive year for leisure, business and other purposes not related to the exercise of an activity remunerated from within the place visited.” Hunziker and Krapf, in 1941, defined tourism as “the sum of the phenomena and.

Related Topics

We can write a custom essay

According to Your Specific Requirements

Order an essay
icon
300+
Materials Daily
icon
100,000+ Subjects
2000+ Topics
icon
Free Plagiarism
Checker
icon
All Materials
are Cataloged Well

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email.

By clicking "SEND", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
Sorry, but only registered users have full access

How about getting this access
immediately?

Your Answer Is Very Helpful For Us
Thank You A Lot!

logo

Emma Taylor

online

Hi there!
Would you like to get such a paper?
How about getting a customized one?

Can't find What you were Looking for?

Get access to our huge, continuously updated knowledge base

The next update will be in:
14 : 59 : 59