AN IMPACT ANALYSIS OF TOURISM AND ECONOMIC GROWTH IN INDIA

The tourism sector exerts a substantial and diverse influence on India's economic growth. Renowned for its rich cultural heritage, historical landmarks, and natural splendor, India has emerged as a favored destination for both domestic and international travelers, drawing millions annually. The study aims to highlight the following factors: per capita GDP, international tourist receipts, trade openness, and gross capital formation. The study employs the Heteroscedasticity Test, Normality Test, Breusch-Godfrey Serial Correlation LM Test, and CAGR (Compound Annual Growth Rate) to examine the contribution of tourism to economic growth in India, comparing major countries from 2003 to 2020. The paper aims to provide an impact analysis of the relationship between economic growth and tourism in India, examining the multifaceted dimensions of this symbiotic relationship.