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Global recession and Indian Tourism Industry
Dr. Pawar A.N. ,Sarwade wk
INTRODUCTION: The term financial crisis is applied broadly to a variety of situation in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries many financial crises were associated with banking panic and many recessions coincided with these panics. Financial crisis includes stock market crashes, currency crises, credit crunch and liquidity crises. This lead to arrival of the foreigners from one country to another country. The financial meltdown, morphed in to a global economic downturn with the collapse of Lehman Brothers on 23 rd September 2008, the impact on the Indian economy was almost immediate. Because the arrival of foreigners was get down in the year 2009 and it leads to the decrease in the foreign exchange income.