Evaluating the Currency Control Measures of Government of India and Its Effects on Indian Tourism Industry
23 Pages Posted: 6 Apr 2019
Date Written: January 14, 2018
This research paper evaluates the effect of the decision of Government of India to regulate the use of currency notes, cancel the legal tender of high denomination notes from use on Indian tourism industry. Popularly called as demonetisation of currency, this unexpected act of government resulted shock waves in all walks of life including ordinary people, tourists, professionals, industries and banking sector. The period of the study is from January 2017 to mid of April 2017. An online survey was conducted among the members of Indian Association of Tour Operators (IATO) to collect the primary data in order to asses various effect of this major monetary decision of government. The study analyses the feedback of the respondents on the effect of demonetisation on tourism industry. The outcome of the study shows that the way tourism industry in India looked in to the challenging policy decisions of government and what extent these decisions can have an impact on tourism business.
Keywords: Economic policy; Demonetisation; Economic Policy; Tourism industry; India
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