Recession hits Indian tourism

MUMBAI, FEB 18
Recession across the globe has hit the Indian tourism sector badly. The sector has suffered a considerable setback in the wake of global financial meltdown.
Ministry of Tourism has revealed the data of Foreign Tourist Arrivals (FTAs) and Foreign Exchange Earnings (FEEs) on the basis of data received from major airports.
FTAs during the month of January 2009 stood at were 4.9 lakh as compared to FTAs of 5.9 lakh during the month of January 2008 and 5.2 lakh in December 2008. The decline in FTAs may be mainly due to ongoing global financial meltdown.
FEE during the month of January 2009 stood at Rs 4598 crore as against Rs 5438 crore in 2008.
FEE in USD terms during the month of January 2009 were USD 941 million as compared to FEE of USD 1,382 million during the month of January 2009.
The lower growth rate in January 2009 as compared to January 2008 may be mainly due to exchange rate variation and lower growth rate of FTAs.