Saturday 22 March 2014

India’s Economic Liberalisation and Tourism Sector After 1990s

Manali is considered to be the Switzerland of India. With the white snow mountains valleys, Manali easily resembles the Alps and thounsands of tourists from across India goes to Manali. It is also a huge and popular honeymoon destination for young couples.

Kullu manali tour packages from Kerala are also popular in Kerala, and people especially Kochi throng to Manali every summer.

Historically, Manali being not too far from the capital Delhi was the official summer retreat of the British when they were ruling India in the last century. After 1990s economic reforms, India went through unprecedented prosperity since independence, which created millions of people with huge disposable income. This new neo-middle class enjoyed spending their hard earned money than saving it, as was the norm one generation before.

It created a tourism boom in the domestic sector in India. Thousands of people started exploring other states in India and mingled with other people in other regions. Manali became a hot destination among these new middle class for their summer vacations.

Economic liberalisation in the 1990s was a turning point in the history of independent India. It abolished the license raj that crippled Indian economy and businessmen in starting new businesses. Tax policies and other economic policies became more liberal and businesses started to boom. That was followed by stock market boom which was followed by a real estate boom.

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