INTRODUCTION

1.1. Introduction

Tourism is a major industry and plays a vital role in the growth of an

economy. Its contributions are primarily related to increase foreign exchange earnings,

provide employment opportunities, fair return on investment, and conservation of

resources. It offers immense socio economic development potential. Tourism is a people

oriented industry. It rejuvenates people and gives livelihood to the host people. Tourism

is a basic and most desirable human activity which deserves the praise and

encouragement of all people and all governments (Rome, 1963). Modern Tourism is

closely linked with development and it encompasses a growing number of new

destinations. These dynamics have moved tourism into a key-driver for socio-economic

progress (United Nations world Tourism organization). The technological advances,

development of communication system, better transportation, mainly rail, road and air

transportation, marketing and promotional technique etc. had given boost to

international as well as domestic tourism.

1.2. Conceptual Framework

Development is a continuous process of progress meaning that leading

people from the stages of dependency to self-reliance, assuring equitable distribution of

opportunities and resources. And it ensures socio-economic justice and harmony among

all sections of the society. Development is a dynamic process that transforms an

economy and society from a relatively backward state to more advanced state

(Rajkhowa, B.B. 2009). The development process involves the qualitative enhancement

CHAPTER- I

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of various aspects of the whole society, viz. ; economic, social, political and physical

structure. Development is the qualitative in the structure, design, and composition of the

physical stocks, and flows, that result from greater knowledge, both of technique and

purpose (Daly 1992).

The real development means sustainable and fruitful use of natural

resources for the benefit of present and future generation. It means the development of

sustainable production and consumption. The concept of sustainable development is

considered sustainable use of natural resources and sustainable production and

consumption for the welfare of present and future generation.

1.3. Definition of Tourism

Austrain economist Herman V. Schullard (1910) has defined tourism as

‘the sum total of the operations, mainly of an economic nature, which directly relates to

the entry, stay and movement of foreigners inside and outside a certain country, city or

region’.

The International Association of scientific Experts on Tourism

( IASET) defines tourism as ‘the sum of total phenomena and relationship which arising

from the travel and stay of non residents, in so far as they do not lead to permanent

residence and are not connected with any earning activity’

According to Swiss Professors Hunziker and Krapt ( 1942), ‘Tourism is

the total of the relationship and phenomenon arising from the travel and stay of

strangers, provided the stay does not imply the establishment of a permanent residence

and is not connected with a remunerated activity’. This definition has drawn

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considerable attention and has been accepted by the International Association of

scientific experts on Tourism (IASET).

Thus tourism is a composite phenomenon of various segments of society.

It refers to the temporary movement of people from one place to another. Tourism in the

pure sense of the term is essentially pleasure and recreational activity in which money

earned in ones’ normal domicile, is spent in the place visited. The scope of tourism

includes all the activities, facilities and arrangements associated with tourism.

1.3.1. Tourist

According to the Nineteenth Century Dictionary tourist is a ‘Person who

travels for pleasure of traveling, out of curiosity, and because he has nothing better to

do.’

The International Union of official Travel organization (IUOTO) has

defined tourist as ‘a temporary visitor staying at least 24 hours in a Country. The

purpose of journey can be classified under the broad categories of leisure and business.

Travelers staying for less than 24 hours would be known as excursionists’.

So, tourist is a person who makes a travel for the sake of curiosity and

for the fun of traveling.

1.3.2. Foreign Tourist

The Committee of Statistical Experts of the League of Nations, in 1937

defined the term foreign tourist as ‘any person visiting a country, other than in which he

usually resides, for a period of at least 24 hours’. This definition includes following

characteristics of foreign tourist.

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� Travelling for pleasure, domestic purposes, for health etc.

� Travelling for meeting or as representative nature (scientific,

administrative, diplomatic, religious, athletic etc.).

� Travelling for business purpose.

� Travels by sea even when the stay over seas is less than twenty four

hours.

The United Nations in 1945 accepted this definition, stated that the

tourist was a person who stayed in a foreign country for more then 24

hours and less than six months for any non-immigrant purpose for the

compilation of travel statistics.

1.3.3. Domestic Tourist

The XXIII General Assembly of the International Union of Official

Travel Organisation (IUOTO) held in Venezuela (1973) defined domestic tourist as ‘for

statistical purpose, the term domestic tourist designates any person who travels within

the country where he resides to a place other than his usual place of residence for at

least twenty four hours or one night, for a purpose other than exercising a gainful

activity and which may be classified under one of the following categories:

� Leisure (recreation, holiday, health, study, religion and sport );

� Business, family, mission, meeting.’

1.4. Institutional Finance

Finance is called the life blood and nerve centre of every business

organization. Finance is needed right from the beginning of an business idea to promote

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or establish the business, acquire fixed assets, make investigation, develop product,

keep men and machine at work, encourage management to make progress and create

values (Sharma and Gupta 2002 ).

Existing business enterprise needs further finance for improvement and

expansion of business activity. Business finance involves a set of administrative

functions in an organization which relates with the arrangement of cash and credit so

that the organization may have the means to carry out its objectives as satisfactory as

possible.

Institutional finance is an important part of Industrial finance. Adequate

flow of institutional finance is extremely essential for the pace of industrial

development. Institutional finance is also playing a vital role in the process of industrial

development in various states of the country (Dhar 2001). Financial institutions are the

intermediaries; facilitate smooth functioning of the financial system by making

investors and borrowers meet. The commercial banks and investment institutions

mobilize savings of people and allocate them into productive uses.

1.4.1 Role of Financial Institutions

The Services of financial institutions needed for accelerating the

economic development of a country. These institutions provide their help in the

following ways:

� Providing Funds: Financial institutions provide financial assistance which are

needed for setting up new units and also for expansion, diversification and

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modernization of existing units. Financial institutions have large investable funds which

are used for productive purposes.

� Infrastructure facilities: Financial institutions also help in creating infrastructure

facilities needed for the industrialization of the country. These institutions invest in

those areas which can help in the development of the country i.e. road, communication,

electricity etc.

� Promotional activities: An entrepreneur faces many problems for setting up a

new business unit. Financial institutions have skilled manpower resources and take up

the promotional activities on behalf of entrepreneurs.

� Development of backward area: Financial institutions provide special assistance

to the entrepreneurs for setting up new units in backward areas. This assistance will be

certainly helpful in increasing the economic development of those areas.

� Accelerating industrialization: Financial institutions have been playing a pivotal

role in the pace of industrial development. Financial institutions provide requisite

financial, managerial, technical help for setting up of new unit as well as for growth and

development of existing units.

1.4.2. Type of financial institutions

Financial institution can be categorized into two categories:

� Banking Institution, and

� Non-Banking Financial institutions.

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Banking sector consists of commercial banks, co-operative banks,

Regional Rural Banks, and Foreign Banks as organised sector, Indigenous bankers,

money lenders, Seths etc. carrying out banking activities are in unorganized banking

sector.

Non-banking institutions may be classified as organised financial

institutions viz.; Development Finance Institutions, Investment Institutions, and

unorganized financial institutions i.e. non-banking financial companies (NBFCS),

leasing companies, housing finance companies, merchant banking companies etc.

1.5. Tourism Components

The existence of tourism sector includes certain components and the

major ones of them:

� Local,

� Transport,

� Accommodation.

The term ‘Local’ includes the holiday destination. It may also offer

natural attraction i.e. Sunshine, Sightseeing, sporting facilities etc. (Singhal 2006). A

tourist must travel by some mode of transport to get his destination. Tourism is to a

great extent dependent on the range and type of accommodation, available at the

destination. It is one of the core areas of tourism sector which plays a vital role in the

development of tourism industry (Bhatia 2003).

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1.5.1. Peter’s Inventory of Tourist Attractions

Peter has developed an inventory of the various attractions which is very

significance in tourism sector. His inventory of tourist attractions includes three

categories which are as:

� Culture: Sites and areas of archaeological interests, historical buildings and

monuments, places of historical importance, museums, modern culture, political

and educational institutions, and religious institutions.

� Traditions: National festivals, arts and handicrafts, music, folklore, native life

and customs.

� Scenic : National Parks, wild life, flora and fauna, beach resorts, mountain

resorts.

1.5.2. Robinson’s Geographical components of Tourism

Robinson’s Geographical components of tourism includes following

elements.

� Accessibility and location.

� Space.

� Scenery.

a) Landforms, e.g. mountains, hills, canyons, cliffs, volcanic features,

coral reefs, etc.

b) Water, e.g. rivers, lakes, waterfalls, geysers, glaciers, the sea, etc.

c) Vegetation, e.g. forests, grasslands, health, deserts, etc.

� Climate: Sunshine and cloud, temperature conditions, rain and snow.

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� Animal life.

d) Wild life, e.g. birds, game reservations, zoos.

e) Hunting and fishing.

� Settlement features:

a) Town, Cities, villages.

b) Historical remains and monuments.

c) Archaeological remains.

� Culture: Ways of life, traditions, folklore, arts and crafts etc.

1.5.3 The Elements of Tourism

Besides the three major components of tourism, there are six elements of

tourism for the fundamental attraction of tourism. These are:

� Pleasing weather,

� Scenic beauties,

� Historical and Cultural factors,

� Accessibility,

� Amenities,

� Accommodation.

1.6. Travel Motivation

Travel motivations are the inspiration of a person to travel and also to

become a tourist. Motivation is psychological activity related with individual choices.

Travel motivations include certain factors which are recreation, leisure, excitement,

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socio-economic aspects, status, adventure, sports, religious activity, relief from stress

and routine work.

The study conducted by McIntosh (1972) has revealed that the basic

travel motivators may be grouped into following four categories:

� Physical motivators: These are related to physical relaxation and rest,

sporting activities and medical treatment. All of these are connected with

the individual’s bodily health and well being.

� Cultural motivators: These are related with individual’s desire to travel

in order to learn about other countries and their peoples and their cultural

heritage expressed in art, music, literature, folklore etc.

� Interpersonal motivators: These are concerned to a desire to visit

relatives or friends, or to escape from one’s family, workmates or

neighbours, or to meet new people and forge new friendships, or simply

to escape from the routine of everyday life.

� Status and prestige motivator: These are identified with needs of

personal esteem and personal development; these are concerned to travel

for business or professional interests, for the purpose of education or the

pursuit of hobbies.

Robinson (1976) has illustrated these motivating factors and stated that

people travel for eight main reasons. These are refreshment of body and

mind, health, participation in sports, pleasure, curiosity and cultural

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factor, ethnic and family, spiritual and religious reasons, and professional

and business motivators.

1.7. The Rational of the Study

In the scenario of globalization, liberalization and competition among the

global players, the tourism related service industries are inevitable. The global village

concept has considerably increased the expectations of the people from all spheres. In

such a situation, organizations capable of creating competition edge can continue their

survival and achievement. Tourism is an essential activity to the life of nations, because

of its direct effects on social, cultural, educational and economic sectors of societies.

Tourism sector has earned over $ 735 billion (US) world Wide, generated by 842

million international travelers in 2006 and the number of tourists has increased to 898

million in 2007 ( UNWTO ). Domestic tourism has also increased up to at least 9000

million worldwide. The contribution of tourism industry in world trade is 30 percent,

and in world GDP, it continued to be 10.6 percent in 2005 and employment generated

by tourism industry was 221.57 million worldwide, which was 8.3 per cent of the total

employment in 2005-06. World Tourism and Travel Corporation in its vision 2020

forecast that till 2020, the number of tourist traveling across the world will be nearly

1600 million and they will spend nearly $ 2000 billion on it.

The world tourism conference held at Manila, Philippines in October

1980 recognized the economic dimension of tourism. The Manila Declaration on world

tourism considered almost all aspects of tourism phenomenon which included

economic, social, and cultural and environment aspects. This declaration considered that

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economic returns of tourism were real and significant for employment generation,

balance of payment, and improved national economy. The United Nations Conference

On International Travel and Tourism held at Rome in 1963 had included that tourism is

not only significant as a source of foreign exchange but also as a factor in the location of

industries and in the development of marginal and backward areas.

Earning from international and domestic tourism both contribute to the

development of national economy of a country. The benefit arising from tourism

infrastructure, such as airports, roads, water supply, public utility services etc. are used

also by the other section of people for their economic development. Other tourist

facilities like clubs, museums, sports complex, public transport, national park, heritage

site etc. have also become essential for domestic tourists, common people, business

men, though major portion of the cost may have been incurred by the international

tourist.

India is famous mainly for tourist attraction because of unique unity in

diversity. The country is also famous for beautiful scenery, historical monuments,

bountiful agriculture, colossal industries, cities, open country sites, sea-coast, various

dialects and languages, arts, culture etc. Association of British Travel Agency (ABTA)

has ranked India as first destination among top 50 places in year 2006. Another worlds’

leading travel and Tourism Journal ‘Conde Nast Traveller’ has ranked India as top 4

preferred holiday destinations in the world. The Indian philosophy ‘Atithi Devo

Bhavah’ (Guest is God ) and ‘Vasudhaiva Kutumbkam’ (All world is a family) are the

integral part of our tourism. In 1951, only 16,800 foreign tourists came to India, the

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Foreign Tourist Arrival (FTA) increased to 5.28 million in year 2008. So Foreign

Exchange Earning (FEE) also increased to U.S. $ 11.7 billion in year 2008. The industry

With low capital investment and corresponding to high labour involvement can be an

effective solution of unemployment problem of developing country like India. Planned

approach to travel and tourism has become an urgent requirement for national

development.

Assam has immense potential for successfully promoting tourism

industry. The state is the gateway of the North Eastern Region. It is a land of unique

natural beauty and rich culture. Assam is famous for wild life in various national parks

and sanctuaries, tea industry, pilgrimages, historical monuments, tea garden with its old

bungalows, golf courses, and worlds’ largest riverine island Majuli. Assam has emerged

as one of the favourite tourist destination in India both for domestic and foreign tourists.

There has been a rise in the flow of tourists to the state. In 2005-06, the state received

25, 86, 428 domestic tourists and 8,309 foreign tourists. But in 2009-10 state recorded

an inflow of total 39, 10,224 tourists out of which 38, 95,525 were domestic and 14,699

were foreign tourists.

The state government has taken various steps for the development of

tourism infrastructure project viz., tourist lodges, restaurant and way side amenities,

tourist reception centre, luxury cruise vessel project, wild life circuit, information

technology project etc. State government continuous efforts in increasing plan allocation

in tourism sector also helps to boost state tourism. The total annual plan allocation for

state tourism in the year 2008-09 was Rs. 23.92 crore as against Rs. 12.23 crore in

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2007-08. Out of the total plan allocation in 2008-09, Rs. 9.59 core was utilized for

infrastructure development, Rs.0.60 core was for training and maintenance of existing

tourist lodges, and Rs. 1.00 core was utilized for ‘Assam Vikash Yojana’, an

employment generation scheme. An amount of Rs 2.50 core was also provided for

promotion and publicity for state tourism. The Ministry of Tourism, Government of

India has providing financial assistance and sanctioned Rs. 6,110.39 lakh in 11th plan.

State government also announced ‘New Tourism policy 2008’ with it vision to manage

comparative advantage in tourism resources and attractions in a sustainable and

integrated manner to make Assam a major national and international tourist destination.

The North –Eastern Council (NEC) has also started the process of

promoting tourism in this region from the 11th plan period which includes the

development of tourism infrastructure, holding of fairs and festivals , capacity building ,

tourist Circuit development etc. The Ministry for Development of the North Eastern

Region (DONER) has been playing a vital role in realizing the region’s tourism

potential. DONER has taken up connectivity as a major thrust area of this region. The

Ministry has recently introduced L.T.C. Tourism (Leave Travel Concession) to

encourage the domestic tourist to this region with certain incentives.

Financial institutions can play a vital role for the growth and

development of tourism industry. Proper finance is must for the upliftment of state

tourism industry in all domains, because finance is most important ingredient for

industrial development. Lack of adequate and timely allocation of fund is one of the

main causes of slow growth of tourism industry in Assam.

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The present study is taken up to know the present status of tourism sector

in Assam, the role of financial institutions, government and tourism agencies, for better

future prospect of state tourism industry. The study covers Assam as a whole with

special reference to Jorhat and Golaghat districts.

1.8. Review of Literature

The literatures on tourism development of various dimensions,

concerning financial aspects, have been stated below to have a background for the

present study.

John Butler (1855) had intended to describe the habits, customs and

manners of the hill tribes of Assam. The adventure and travel had also illustrated the life

of an officer in Civil Service in Assam. The study concluded with statistics of realizing

the revenue in the period between 1833 to 1853.

The Report of Reserve Bank of India on Financing of small scale Industries July

1959, revealed that in industrially advanced countries, small business do not experience much

difficulty in obtaining working capital from commercial banks, or from financial institutions, for

example in Japan 56 per cent of all loans granted by the local banks and about 26 percent of all

loans granted by the city banks were made to small business. These loans amounted to about 54

per cent of the loans granted to small business by all financial institutions

Ernest w. walker (1971) revealed the characteristics of lending activities

pertaining to short term credit financed by various financial institutions. Banks are the largest

group of financial institutions which provide short term credit. Financial institutions also play a

vital role in supplying short term credit to business enterprise.

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Traditionally, banks have been one of the major sources of short term and intermediate

term capital for business firms.

The Report of the Banking Commission, Government of India, 1972

included the function of commercial banks and state financial corporations. Commercial

banks and financial corporations are by far the most important institutions for meeting

the short term and long term requirements of small scale unit both from the view points

of amount lent, and the number of units assisted.

J.M Bryden (1973) had revealed that tourism and recreation must be

planned carefully like any other industry. Though the tourism is seen as a source of

income, foreign exchange, jobs and amenities for the resident population, generally

economic benefit of this sector have been over estimated.

A.K. Bhatia (1978) observed that India is a vast and diverse country

which has something to offer to everyone. The Indian history fascinates the tourism

development of our country. India’s cultural heritage, traditions, customs and

conventions, civilizations, fauna and flora, art, architecture, natural beauty etc. are the

wealth of appeal in tourism sector.

H. Robinson (1979) stressed on the need of tourism for socio economic

development of a Country. Government of a country is also responsible for promotion

of tourism in their appealing tourist destinations. The study also dealt with formulations

and implementation of tourism policy. Government is also concerned with, various

allied activities of tourism such as passport and visa, customs regulations, foreign

currency allowances, etc.

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Ram Dawar (1986) had mentioned that small scale and tiny Units

requires money for their day to day expenses. Most of the entrepreneurs in this sector,

are economically weak. The capital formation of small sector is generally poor because

they are not in a position to plough back much into the business due to limited amount

of profit.

P.C. Goswami ( 1988 ) had illustrated the various aspects of state

economic development and focused on investment opportunities in industrial sector.

The local people in Assam do not have sufficient capital to start any industry.

Entrepreneurs from other places are not attracted to Assam as there are sufficient

investment opportunities at their home places, where the transport system is good and

market is assured.

Kalchetty Eresi (1989) had pointed out that the raising adequate and

timely finance constitute one of the important facets of finance function because almost

all units normally resort to borrowing one time or another. However borrowing is not

free. They have a cost in term of interest payable and other expenses. This cost is

significant in determining profits. A high cost will have a crushing impact on the

finance of the firm. So the owner-manager of a small unit has to be aware of different

source of finance, their terms of lending, duration of loan and so on.

Rani Mudia Deka (1992) studied on institutional finance relating to small

scale industries in Assam, and focused on the financial problems faced by the micro

entrepreneurs in the state. The local entrepreneurs are unable to start or run an unit with

their own fund and they have to look to other sources for financing their units. Modern

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industries need more fund and it is impossible to run an unit entirely from one’s own

fund.

The Report of the Advisory Committee on Industries, Assam, 1996

viewed that tourists need certain common demands and these are clean, hygienic and

comfortable accommodation, good transport system to take them from one place to

another, decent shops and entertainment representing cultural heritage of the tourist site.

R.D. Singh (1996) focused on the all known and unknown tourist

destinations in Assam. Guwahati is the Gate Way of North East Region. Every tourist

destination in Assam has something different and a unique diversity to offer.

Nicholas Siropolis (1998) had viewed on the need of financial plan for

the entrepreneur to know how much money they need. Unfortunately, many

entrepreneurs do not often have financial plan because they have failed to work out a

business plan. Yet the very act of preparing such a plan enables entrepreneurs to

crystallize their thinking on how best to launch their ventures. It forces them to move

logically and systematically from the stage of dreams and ideas to that of action and

results.

P.N. Seth and S.S. Bhat (1998) included the economic multiplier effect

of tourism which is much larger than any other industry. Every industry has a multiplier

effect, but tourism, particularly international tourism, helps the economy of a country by

multiples of the tourist’s original dollar. The money spent by a tourist on hotel

accommodation, food, beverages, shopping, entertainment and transportation does not

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stagnate, but provides an income to hotel staff, taxi owners, shopkeepers and suppliers

of goods and services.

Anil Kumar Bora ( 1999) expressed his view that Assam has immense

potential for development of tourism sector. But the pace of development of tourism as

an industry has been rather slow, the major obstacles being paucity of fund towards

development of infrastructure facilities, like inefficient network and comfortable

accommodation.

Godfrey Harris and Kennath M.Katz (1999) stressed on the improvement

of domestic resources to attract international tourists. Communities need way to

enhance elements of their tourism infrastructure to make first time foreign visitors feel

welcome and comfortable and improve their chances of later attracting the friends,

relatives and associates of their visitor.

Nirmal Kumar Choudhury and others (2000) expressed their view that

infrastructure and other facilities need to be spruced up and the image of Assam as a

‘Safe’ place.

Gulab Nabi (2000) studied the economic benefits generated by tourism

and its impact on the social lifestyle of the people. The study is a case study of the state

of Rajasthan. It emphasized on the special schemes of Rajasthan Tourism Development

Corporation ( RTDC) and the role of Indian Tourism Development Corporation ( ITDC)

and their various schemes.

Sudip Roy Choudhury (2000) had emphasized on the recent banking

trend and potentials in Assam. The lending operations of commercial banks must be

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connected in a profitable and safe manner. Safety is essential to commercial banking

since banks hold crores of deposits of individuals, business people, and government.

Profits are also necessary for the successful operation of bank. Lending is most

profitable as well as the risky function performed by commercial banks. So it must be

done efficiently and with a minimum risk.

The Report of the Expert Committee on Rural Credit NABARD (2000),

reviewed the totality of rural institutions and recommended strategies and approaches to

meet the challenges of the future.

A.K. Bhatia (2001) emphasized on financial planning of tourism

industry. He observed that financial planning is very must essential for successful

tourism development plan. Public and private finance play an important role in tourism

development programme.

Shalini Modi (2001) illustrated the demand of tourism which also

includes the number of components of tourism. Effective or actual demand comprises

the actual number of participants in tourism i.e. those who are actually traveling. This is

the component of demand most commonly and easily measured and the bulk of tourist

statistics refers to effective demand. Suppressed demand is made up of this population

who do not travel for some reason. Two elements of suppressed demand can be

distinguished. First potential demand refers to those who will travel at some future date

if they experience a change in circumstances, for example increase in Purchasing power.

Second deferred demand is a demand postponed because of Scarcity or problem in

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supply of goods or services. In other words both deferred and potential demand may be

converted in the effective demand at some future date.

The study Report of NEDFi (2001), on pre investment feasibility study

on tourism projects, based on tea estates, adventure sports, wildlife and pilgrimage in

Assam, viewed that infrastructure should be developed in world famous National Parks

and wildlife sanctuaries in the state. Though Guwahati is the major city in N.E. Region,

accessibility from this important city to other places in Assam is very weak. Air access

is limited and rail services are inadequate. The roads in the state are mostly in a poor

conditions and road transport system are generally primitive in nature.

Ashok Singh (2002) compiled and published seminar paper relating to

case studies of various aspects of tourism. In this edition ‘Role of state Government in

promoting culture Tourism- A Case study of Tourism Corporation of Gujarat Limited’

illustrated the development of tourism resources of the state government and tourism

policy1995-2000. This policy is the state government’s maiden tourism policy to

introduce a forward looking policy to rejuvenate and boost the tourism sector because

till 1990 Gujarat was not a tourism oriented state.

Robert Hickson (2002) made a survey on micro finance institutions of

very poor slum dwellers and tried to highlight how these institutions help the poor

people to get the micro credit to set up micro enterprises. Micro finance institutions

rarely managed to serve the extremely poor people. Micro finance institutions reached

the upper poor in greater numbers than the very poor.

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Crowell Daniel (2003) Carried out a study on Self -Employed Women’s

Association’s (SEWA) on rural development programmes and its remarkable success in

fostering the economic and social well being of rural women in informal sector in

Gujarat, despite heavy odds like hostile weather condition, marginal land, acute scarcity

of water, an unforgiving environment and limited access to capital.

Munin Phukan (2003) compiled and edited seminar papers in Tourism

Development in Assam and North East. In this edition ‘Tourism Development in

Assam- A few preliminary Tasks’, Achintya Kumar Baruah stated that Assamese

entrepreneurs must take the cue from tourism. There is a possibility of creating paying

guest facility in traditional homes. But such villages should be located in an area already

receiving international tourists or has the potential to do so. Majuli, Panidihing, orang,

Suwalkuchi, Haflong and Kaziranga are places where this can be established.

Syed Ajaz Farid (2003) stated that the generation of income from

tourism is closely related with employment. Income in general comes from wages and

salaries, interest, rent and profit. In Kashmir, most of the sites have a buoyant level of

tourism, labour intensive accommodation such as hotels and house boats, the number of

attraction is large and ground handling arrangement are available. These areas create

income mostly directly. The generation of more income here depends upon the higher

amount of laobur employed.

S. Bora and M.C. Bora (2004) illustrated the secrets beauty and tourist

paradise in North East Region’s states. The authors stressed on the problems and given

some suggestions of future prospects of tourism in this region.

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The Micro Finance Report of NEDFi (2004) included the case study of

Bangladesh Grameen Bank, and Agricultural Co-operative Bank of Thailand. The case

study of both of the banks suggest that it is possible to develop a profitable financial

institution that exclusively works with the poor and provides financial services at

unprecedented levels to millions of the rural poor. As on April 2004, the Grameen Bank

of Bangladesh has 1,456 branches covering 51,681 villages having borrowing of 4.48

million with 98.91 per cent recovery rate.

A.K. Bhattacharya (2005) compiled and edited a series of articles on

various aspects of tourism sector. In the article ‘Eco-Tourism Potential in Madhya

Pradesh’, A.K. Bhattacharya, Yogesh Dubey, and Alark Saxena, emphasized on vast

tourism resources of this state in the form of natural landscape, bio-diversity, heritage

sites, and adventure sites. Madhya Pradesh has recently announced state bio-diversity

strategy and Action plan 2002, which underlines the need of eco- development in the

state to conserve its biodiversity heritage. The state government has also announced it

new eco and adventure tourism policy 2001-02. These Policy initiatives provide a

consistent framework to explore possibilities in the eco-tourism sector.

Anand Singh (2005) had elaborately discussed the development of

tourism in India. Tourism thrives on the history of the country. In fact, tourism can’t be

isolated from history, in a country like India whose cultural heritage has a wealth of

attraction. Its magnificent monuments attracted a large number of visitors from all over

the world. Beside its cultural heritage, India also occupies a unique geographical

position. Few countries in the world provide such varied interest to visitors.

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James C.Van Horne (2005) made an attempt to critically analyse the

goals and functions of finance. Finance function has to estimate the financial needs of

an enterprise in suitable terms and finding out source of fund.

Jogmohon Negi (2005) illustrated the function of tourist guide who plays

most important role in the daily life of a tourist, because it is only the guide who as a

individual spends the maximum time with a tourist. The tourist guide must understand

the need of tourist and should feel proud of his profession and of the contribution that he

can make in the building up the image of his country abroad through the tourist.

S.A. Rahman (2005) stated that the state of Assam is well endowed with

aesthetic scenery and offers enough sights for the national and international tourists. Its

mighty rivers, evergreen forests, invigorating climate, religious places, national parks

and cultural milieu are unparallel in the country. The valley of Brahmaputra river was

once littered with a plethora of temples, brick-built as well as stone built as the existing

ruins scattered all over the state. Most of these temples belong to the 13th century. The

temples of the medieval period constructed with the patronage of the koch, the Ahom

and the Kachari Royal dynastic are the places of interest for the pilgrims and

international tourists.

S.K. Sarma and Usha Sarma (2005) Compiled and edited a series of

articles on economy, geography, history, culture, religion and society of the North East

India. In the article ‘Development of North-Eastern Region’ Mrs. Indira Gandhi, former

Prime Minister of India lays emphasis on the development of the region, particularly

25

transport, communication, agricultural practices, marketing, training and institutional

finance.

A.Iqbal Fazili and S. Husain Ashraf (2006) highlighted on the parameters

of tourism which are wide and far reaching. From a small beginning of individuals,

travelling along in search of adventure, knowledge, trade and pilgrimage, the mass

movement of people all over the world has given rise to sophisticated, multidisciplinary

industry- Tourism- to develop and promote tourist activities, to serve tourist facilities so

as to ensure visitor satisfaction and thus generate more traveling. Tourism promotes

exchange of ideas and views and provides interaction of people and their culture; it can

be a potent instrument for achieving national integration, better international

understanding and peace, feel co-existence for the people of the world.

B.S. Badan and Harish Bhatt (2006) analysed the tourism development

scenario in Maldives. Tourism development has been carefully managed in the

Maldives so that it does not generate any serious environment or social problems. The

first tourism plan was prepared in early 1980’s, provided some ideas for tourism

development. Most of the tourism planning and environmental management for the

country has resulted from government initiatives, based on its evaluation of the best

forms and standards of development. Many of government’s presents approaches and

standards have evolved through monitoring of the earlier phases of development to

determine what is most suitable. Approaches and standards are refined and some may be

discarded based on the experience gained from previous types of development.

26

G. Ganes and K.C. Rao (2006) studied the performance of Tamilnadu

tourism to measured, in ordered to know the present status of the tourism sector and

improve the same. Tamilnadu Tourism Development Corporation (TTDC) is actively

working towards the development of tourism industry in Tamilnadu by creating

different centres exclusively for tourism related activities.

Michael P. Todaro and Stephen C.Smith (2006) had examined the role of

development as both Physical reality and a state of mind in which society has, through

some combination of social, economic and institutional processes, secured the means for

obtaining a better life. Development in all societies must have at least three objectives,

viz., increase the availability and widen the distribution of basic life sustaining goods

such as food, shelter, health and protection. The second object is to raise level of living,

including, in addition to higher incomes, the provision of more jobs, better education,

and greater attention to cultural and human values, all of which will serve not only to

enhance material well being but also to generate greater individual and national self

esteem. The third object includes the range of economic and social choices available to

individuals and nations.

Nivedita Goswami (2006) stated the enhancement of entrepreneurial

capability which needs the creating an environment for industry to motivate

entrepreneurs. Such an environment should have institutions like banks, and other

financial institutions, training agencies, government departments, research institute etc.

work in close collaboration to provide a supportive network to the entrepreneur.

27

Prasanta Athma and Nijaya Lakshmi (2006) forecasting that eco-tourism

is the largest growing sector with an annual growth rate of 10-15%. Andhra Pradesh

Tourism Development Corporation in the year 2002 set up ‘Eco-Tourism wing’ to

develop the eco-tourism destination in this state. The financial contribution of central

and state government have also discussed in this study.

Prem Nath Dhar (2006) focused on the emerging challenges and future

prospects of tourism industry. This industry is highly fragmented, with many different

participants, ranging from one person operations selling homemade souvenirs or

offering guided tours to large multi-billion dollar airlines. Thus although establishing an

airline requires substantial capital, entering the tourism business can be easy as renting

out a space room to travellers or guiding visitors around for a small fee. The low

barriers to entry and its labour intensity make this industry attractive to governments

and development agencies alike. Tourist destination also needs to maintain

environmental quality as a part of tourism experience. Environmental degradation has

already affected the fortunes of some destinations; consumers have boycotted beaches

which gained a reputation for being polluted.

B.C. Barua and A. Bhowal (2007) studied the need of Leave Travel

Concession (LTC) tourism which is a facility to employees, provided by organizations,

whereby they can travel different destinations. As per prevailing LTC rules, these travel

benefits can be availed throughout the work life of an employee at specific time

intervals with family, and within certain specific cost limits. It is economically helpful

as it is a free of cost opportunity to travel different destinations. It acts as a refreshing

28

tool leading to healthy and energized mind and body when the employees come back to

his place of work. Now-a-days LTC tourism is also a government policy to developed

tourism industry of a particular region.

L.M. Bhole (2007) discussed on micro-finance as a tool for channelising

credit for poverty alleviation directly and effectively. The micro credit extended

bybanks to individual borrowers directly or through any agency is regarded as a part of

bank’s priority sector loans.

Rekesh Sarma (2007) stressed the need of micro enterprise in rural

economy of a country. Micro enterprises face considerable obstacles at pre-investment

stage, investment stage and post investment stage. They suffer from the problem of

finance, raw material, marketing, socio-cultural problem, and many other problems. If

these problems are addressed properly, micro enterprises can generate employment and

income in rural areas.

Sunil Gupta and S.P. Bansal (2007) examined the role of Himachal

Pradesh State government for the development of state tourism sector. Himachal

Pradesh State government declared state tourism as industry in 1993. To identify

tourism activities in the districts and encourage investors to invest in state tourism

industry, the government had appointed tourism officer in each district. The ban area of

tribal districts of Kinnaur and Lahaul and Spiti was recently opened to domestic and

foreign tourists.

A Satish Babu (2008) studied the performance of Andhra Pradesh

Travel and Tourism Development Corporation, which was incorporated with a view to

29

bring vitality to glorious past by exhibiting Buddhist monuments, vibrant handicrafts,

amusement parks, water sports, trekking, camping tourism, wild life and Andhra-

Culture to visiting dignities. A perusal of the past history of this corporation records that

there was no sign of earning profits. In the history of this corporation no dividend was

paid to the principal investor state government.

D.C. Deka (2008) Compiled and edited articles relating to cultural

heritage of Assam. The historical place Sivasagar is related with the archaeological,

architectural, sculptural and engineering skill of Ahom Kingdom. Sivasagar has

enormous potentiality of developing in to a tourist spot if we properly expose our rich

heritage in national and international arena.

M.R. Biju(2008) included number of research Papers Contributed by

renowned academic and tourism experts on various aspects of tourism, both in

theoretical and practical terms and makes valuable suggestions for revamping and

revitalizing India’s Tourism policy. ‘Redefining Tourism Marketing; A research on

customer and some stakeholders Engaged in Tourism Marketing Based on West

Bengal’, Devmalya Dutta and Kaushik Mandal observed that the development of tourist

site such as creation of accommodation at tourist site and other facilities by first level

stakeholders and promoting it through vehicle of subjective preference may not be

called marketing, as it is not surely called customer-centric. The second level marketers

are of two types: one is big corporate sector and other is small scale entrepreneurs. Both

of these groups are promoting some of the destinations as well as marketing their

services in their own ways. Corporate sectors have the capacities of carrying research in

30

relation to perceived media preference of the consumer, Perceived sources of

information collected from consumers, perceived motivation for site selection of the

consumer, business environment related perceived factor, and importance of the

consumer. But the local level entrepreneurs based on any sector have no such

capabilities of financing in the research over consumers.

Yashodhara Jain (2008) had studied the tourism potentiality of Lucknow

City. Lucknow is one of the tourist places in India which offer manifold attractions to

tourists. This city has immense potential for development of tourism and it has not been

fully harnessed. Department of tourism, Uttar Pradesh, and Uttar Pradesh State Tourism

Development Corporation are the department to promote and monitor tourism within

the state. At present the corporation has 37 information centres and 22 Regional offices

in state and 6 liaison offices in New Delhi, Mumbai, Kolkata, Madrass, Ahmedabad and

Chandigarh. State tourism sector need proper finance with certain incentives, viz., non

refundable capital grants from state and central government, loans from state

government and other financial institutions, user charges or entry fee and transport fleet.

The NEDFi data bank quarterly, Tourism Issue, Vol. No.6 (2008)

focused on Assam tourism and included that the state has been a melting pot of various

racial stocks, viz., Indo-Burmese, Mongoloid, Austro-Asiatic, Aryan, and Dravidian etc.

The state is peopled by large number of tribal groups, major among them are the Boro-

Kacharis, Deori, Lalungs and Rabhas etc. The state has a reputation for warm

hospitality. People are homely, charming and openhearted.

31

B.S. Badan and H. Bhatt (2009) revealed that ecotourism is a sustainable

form of natural resource based tourism. It primarily focuses on experiencing and

learning about nature, and which is ethically managed to be low impact, non-

consumptive and locally oriented. The amount of investment in ecotourism is moderate

and low investment.

Misra and Puri (2009) focused on the development of financial

institutions in India. Financial institutions performed well till the turn of the century.

Aggregate assistance Sanctioned and disbursed by all the financial institutions increased

considerably till 2000-01. In 2000-01 assistance sanctioned and disbursed by all

financial institutions stood at Rs. 1,20,580 Crore and Rs. 75,364 crore respectively. The

Narasimham Committee II had recommended that with the convergence of activities

between banks and development financial institutions, the development financial

institutions should, over a period of time, Convert themselves into banks paving the way

for only two forms of intermediaries viz., banking companies and non-banking financial

institutions. The merger of ICICI with ICICI Bank was approved by the Reserve Bank

in April 2002. The ICICI had accounted for a substantial part of the sanctions and

disbursements of all India Financial Institutions. With its merger with ICICI Bank, the

role of all –India financial institution has subsided further.

P. Chaudhary (2009) illustrated need of the Central and State

government tourism Policy to encourage the direct investment in tourism sector.

Tourism policies in Kerala, brand Kerala as ‘God’s Own Country’. Beaches, warm

weather, hill stations, waterfalls, wild life, Ayurveda, year round festivals and diverse

32

flora and fauna make kerala a unique destination for tourists. The Department of

Tourism, Kerala Tourism Development corporation (KTDC), District Tourism

Promotion Council (DTDCs), Bekal Tourism Development Corporation (BTDC), Local

Governments and Private Sectors are playing major role for the tourism development in

Kerala.

Sunetra Roday and others (2009) studied the feasibility analysis relating

to the investment in tourism sector. Any tourist attraction needs proper amount of

investment and investors are interested in knowing whether the attraction will provide a

fair return on their investment. The feasibility analysis studies the, potential demand for

the attraction and its economic feasibility tells us whether the attraction we plan to

develop will make money.

Bedanta Bora and others (2010) stated that the tiny state of Sikkim has

emerged as prominent ‘Green Tourism Destination’ in North Eastern region. The

government has recognised the importance of Green Tourism and has declared it as a

thrust sector in its policy documentation. Tourism industry in Sikkim has proved to have

an exceptional interest and universal value, the encouragement of which should be a

preconceived priority of all concerned stakeholders. The state government has been

prioritized implementation of tourism projects in financial years. Central government

has been also providing financial assistance for development of tourism infrastructure in

the state. To promote village tourism, 30 model villages having all basic modern

amenities are being constructed in different areas of the state.

33

M. Menon (2010) pointed out that India’s tourism industry is

experiencing a period of strong growth. The industry is substantial and vibrant and the

country is fast becoming a major global destination. The travel and tourism industry is

one of them most profitable industries in the country, and also created with contributing

a substantial foreign exchange.

M. Husain (2011) mentioned that tourism in India has emerged as an

instrument of employment generation, poverty alleviation and sustainable human

development. During 2008-09, direct employment in the tourism sector was estimated

to be over 50 million. Tourism promotes national integration and international

understanding and gives support to local handicrafts and cultural activities.

The studies conducted so far in financial aspect and development of state

tourism has not dealt elaborately. The present study has been trying to trace some of the

important dimensions and fulfill the research gap in the field of institutional finance for

tourism development.

1.9. Objective of the Study

The objectives of the present research study are as follows:

1.9.1. To identify the financial institutions and funding agencies which provide

financial assistance to state tourism sector;

1.9.2. To examine the performance of financial institutions and tourism developing

agencies for tourism development in Assam with special reference to Jorhat and

Golaghat districts;

1.9.3. To examine the performance of State and Central Government efforts;

34

1.9.4. To study the new prospective areas which can attract the financial institution;

1.9.5. To examine the tourism products in order to attract tourists.

1.10 Research queries investigated.

To achieve the above objectives, attempt has been made to enquire into

the following queries:

1.10.1 Whether the existing infrastructure facilities are sufficient for the development of

tourism industry in Assam with special reference to Jorhat and Golaghat

districts?

1.10.2 Whether the financial involvement of financial institutions for tourism

development in Assam is adequate or not?

1.10.3 Whether the government tourism policy and fiscal incentives to the private

entrepreneurs are proper?

1.10.4. Whether the Central government financial assistance to upgrade the facilities

and infra-structure development of state tourism are used properly?

1.10.5 Whether effective methodology has to be evolved and implemented to forge

coordination of various departments and organizations associated with tourism?

1.11. Methodology

The study is based on both primary and secondary sources of

information. So far as information from secondary sources are concerned, these are

collected mainly from various financial institutions, tourism development agencies and

government tourism officials in Assam for a period of ten years from 1999-2000 to

35

2008-09. Information are also collected from other states tourism development agencies

for the sake of better analysis.

1.11.1. The secondary information have been collected from various sources such as (i)

Annual budget of Assam Government, (ii) Directorate of Tourism, Govt. of

Assam, (iii) Assam Tourism Development Corporation (ATDC) Ltd.,

(iv) Ministry of Tourism, Government of India, (v) Financial institutions, viz.,

Tourism Finance Corporation of India, North Eastern Development Finance

Corporation Ltd. (NEDFi), NABARD, and other scheduled commercial Bank,

(vi) Tourist information offices in Jorhat and Golaghat districts, (vii) News paper,

magazines and tourism websites.

1.11.2. So far as primary information are concerned, these are collected through cross

section interaction through discussion and interviews with Domestic tourists, Foreign

tourists, Tourism/Financial Institution officials, Private tourism promoters and Local

people of the study areas. Information are also collected through schedules, discussions

and interviews. Separate schedules have been prepared for Domestic tourist, Foreign

Tourist, Tourism/Financial institution official, Private tourism promoter and local

people respectively. All collected data have been firstly classified and tabulated

systematically and then these have been analyzed and interpreted. In this study,

management technique like Trend Analysis, Likert Five Point Scale Technique, and Co-

efficient of Correlation of financial information are used.

Samp

ling D

esign

.

Table

1.1.

Dome

stic T

ourist

Forei

gn To

urist

Touri

sm/Fi

nancia

l Ins

titutio

n Offic

ial

Privat

e Prom

oter

Local

Peop

le Di

strict

To

urist

Place

M F

Total

M F

Total

M F

Total

M F

Total

M F

Total

Jorhat

6 4

10

6 4

10

13

2 15

10

5

15

16

4 20

Jor

hat

Majul

i

20

10

30

12

8

5 -

5 7

3 10

10

5

15

Golag

hat

Kazir

anga

Natio

nal

Park

32

18

50

30

15

45

5 -

5 22

8

30

12

8 20

Go

laghat

8

2 10

-

- -

4 1

5 7

3 10

4

1 5

Total

= 330

04

Nos.

66 34

100

(30.30

%)

48 27

75

(22.73

%)

27 3

30

(9.10%

)

46 19

65

(19.70

%)

42 18

60

(18.17

%

36

37

1.12. Scope of the study

The scope of the present study has been confined in two districts of

Assam Viz., Jorhat and Golaghat districts. Four tourist destinations of these districts, i.e.

Jorhat, Majuli, Kaziranga National Park and Golaghat have been selected as ideal tourist

spot. The field survey was conducted during the period November to April in 2008,

2009 and 2010.

1.13. Chapter Plan of the Study

The present study consists of six chapters.

CHAPTER-I : INTRODUCTION

Conceptual analysis of different aspects, e.g. Tourism, Tourism

components, Travel Motivations, Tourism Awareness, Finance in Tourism, Institutional

Finance etc., has been dealt upon in this chapter. This chapter also includes objectives,

methodology, significance and the review of literature.

CHAPTER-II : PROFILE OF TOURISM SCENARIO IN ASSAM

History of Tourism Development, Tourism Development in Pre-

Independence period and post independence period, Ancient Assam, Tourist

destinations in Assam, Tourism potentiality, Tourism related product have been

discussed in this chapter.

CHAPTER-III : ROLE OF FINANCIAL AGENCIES IN PROMOTING

TOURISM

Role and Significance and performance of tourism developing agencies,

government sectors, private promoters and financial institutions have been dealt with in

this chapter.

38

CHAPTER-IV: PROBLEMS AND PROSPECTS OF STATE TOURISM

SECTOR

This chapter incorporates the main problems and future prospective areas

of State Tourism sector.

CHAPTER-V: ANALYSIS AND INTERPRETATION

Analysis and interpretation of data have been brought to light in terms of

quantitative and qualitative aspects with the help of appropriate financial tools.

CHAPTER-VI: FINDINGS AND RECOMMENDATIONS

This chapter is related to the summary of findings and recommendation

of the study.

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******