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The slowdown in the West has affected the tourism sector as foreign exchange earnings in July registered a negative growth compared with the corresponding period last year.
The number of foreign tourists has also slowed down, with a mere 2.1 per cent growth registered in July as against 10.1 per cent increase in the same period last year.
Foreign exchange earnings during July were $1,512 million as compared with $1,603 million during July 2011, according to Tourism Ministry data.
The growth rate in foreign exchange earnings in July was minus 5.7 per cent as compared to the growth of 37.8 per cent in July 2011.
Besides slowdown, the decline in growth is partly due to substantially depreciated value of rupees in July as against same month in 2011, said a senior ministry official.
India attracted 5.25 lakh foreign tourists in July as against 5.14 lakh in the same period last year. Foreign tourist arrivals during January-July 2012 were 37.62 lakh as compared with 35.29 lakh in the corresponding period last year.
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