Foreign Exchange Earnings from tourism up by 24% year-on-year in May 2015

The Foreign Exchange Earnings(FEEs) from tourism in the country have grown by 23.6% year-on-year during the month of May 2015.

Government’s e-visa facility was launched in November 2014, has led to a huge growth in tourist arrivals to the country. The ‘e-Tourist Visa’ (eTV) scheme was launched for nationals of 43 countries. In May, the government extended the scheme to 31 more countries. Tourist arrivals to the country stood at 33.32 lakh during the period January-May 2015, registering a growth of 3.6% as compared to the same period last year.

What is Foreign Exchange Earnings(FEEs)?

Proceeds from the export of goods and services of a country, and the returns from its foreign investments, denominated in convertible currencies.

What statics is used in the Tourist Arrival?

  1. Foreign tourist arrivals refer to the number of arrivals of tourists/visitors.
  2. An individual who makes multiple trips to the country is counted each time as a new arrival
  3. Foreign Exchange Earnings from tourism are the receipts of the country as a result of consumption expenditure, i.e. payments made for goods and services acquired, by foreign visitors in the economy out of the foreign currency brought by them.
  4. The number of Domestic Tourist Visits to different States and Union Territories (UTs) are being compiled based on the information received from them.

 


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