Examination on Foreign Direct Investment in the Tourism Industry in Kerala
G. Kanagavalli1, Haseena K. P2
1Dr. G. Kanagavalli, Assistant Professor, Department of Commerce, Alagappa University, Karaikudi (Tamil Nadu), India.
2Haseena K. P, Research Scholar, Department of Commerce, Alagappa University, Karaikudi (Tamil Nadu), India.
Manuscript received on 01 October 2019 | Revised Manuscript received on 10 October 2019 | Manuscript Published on 22 October 2019 | PP: 501-504 | Volume-8 Issue-3S October 2019 | Retrieval Number: C11041083S19/2019©BEIESP | DOI: 10.35940/ijrte.C1104.1083S19
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Foreign Direct Investment (FDI) means investment by a person or firm from one country to the business located in another country. In India the major sectors where foreign direct investments permitted are infrastructure, automotive, pharmaceuticals, service, railway, chemicals, textile and airlines. Kerala always looking for FDI in innovative tourism projects. The infrastructure developments in tourism destinations are very crucial in attracting tourists. State Govt. is expecting annual growth of 15 % in foreign tourist’s arrivals. They expect 3 million foreign tourists by 2021. To reach those expectations there is a need to promote Ayurveda, Backwaters, Adventure tourism and Medical tourism. In Kerala, the tourism industry covers 13% of the state GDP. The central govt. wants to attract 100 billion dollar Foreign Direct Investment in tourism sector and generate up to 100 million jobs. During the period of April 2000 to June 2018, FDI inflows in to the state reached 1.97 billion dollar. South Korean Govt. has shown interest in investing in Kerala in electronic hardware manufacturing, knowledge industry, basic infrastructure development, pot development and shipbuilding. Elements of tourism industry include accommodation, tourist’s sales, attractions, transportation, amenities etc. This study attempts to analyze the FDI in this various elements of tourism industry in Kerala. Secondary data are to be used for the study and tables and diagrams are used for presentation of the data.
Keywords: Foreign Direct Investment, Tourism Industry.
Scope of the Article: e-governance, e-Commerce, e-business, e-Learning