Ecotourism - #SectorUpdates

Ecotourism, also known as a sustainable form of tourism, is a form of sustainable travel that aims to support and uplift the surrounding environment rather than exhausting its resources and putting pressure on it.  The tourism sector is in fact a significantly large employment generator, besides being an important source of foreign exchange. In the Union Budget for FY 2022-23, Rs. 2,400 crores had been allocated to the Ministry of Tourism which is 18.42 % higher than the allocation for FY 2021-22. The Indian eco-tourism industry is at an early age and it is valued at $2.2 billion as of 2019 it is expected to cross $11.6 billion by 2028 growing at a CAGR of 20%. India is recognized as a biodiversity hotspot with an unrivaled natural heritage. Currently, there are about 80 national parks and 441 sanctuaries in India, which work towards the preservation of wildlife resources in India. There is also a multitude of Botanical and Zoological Gardens in India that work towards the enhancement of the Ecosystem in a sustainable way. An intentional attempt to protect the attractiveness of a naturally beautiful area and to protect species in their natural habitats is ecotourism. Ecotourism promotes unusual locations, their vibrant cultures, and their unique traditions in the process. In states like Jammu & Kashmir, Sikkim, Himachal Pradesh, and Uttaranchal, the Government of India has declared ecotourism as a “thrust industry.”

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