Tourism has emerged as a key sector of the world economy and has become a major workforce in the global trade. It has been making a revolutionary and significant impact in the world economic scenario and it is also been identified as the major export industry globally. The multifaceted nature of this industry is a catalyst to economic development and helps in balanced regional development. It is a low capital, labour intensive industry with economic multiplier and offers opportunity to earn foreign exchange at low social cost. Tourism industry acts as a powerful agent to both economic and social change. It stimulates employment and investment, modifies economic structure and makes positive contributions towards balance of payments. The money spent by the foreign tourists in a country is multiplied several times. In the process, the total income earned from tourism is a number of times more than the actual spending. The multiplier effect of tourism receipts is completely recognized as spreading to secondary and tertiary spheres of the economic activities of a nation. It encompasses economic, social cultural, educational and political significance. Marketing and promotion are of vital importance in tourism because of the competitive nature of the industry both within and between the generating countries. Tourism creates direct, indirect and induced employment. It produces a vast spectrum of employment from highly qualified and trained managers of five-star hotels to room boys, sales girls, and artisans. With its faster growth, new horizons of employment open up for the unemployed and underemployed youth of the developing countries.