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GATT

  By: Astha Raghav.  The  General Agreement on Tariffs and Trade  ( GATT ) is a  legal agreement  between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as  tariffs  or  quotas . According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." The GATT was first discussed during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). It was signed by 23 nations in Geneva on October 30th, 1947, and was applied on a provisional basis January 1st, 1948.It remained in effect until January 1st, 1995, when the World Trade Organization (WTO) was established after agreement by 123 nations in Marrakesh on April 15th, 1994, as part of the Uruguay Round Agreements. The WTO is t

TOURISM- THE MOVING FORCE

 

By: Astha Raghav 


In recent years, India's tourism industry has made considerable progress. Tourism provides a travel based recreation with a change of place and a break from the monotony of daily life. It offers opportunities to move through the galleries of our glorious past, natural scenic beauty and brings people of different nations closer, offering them an opportunity to be familiar with the customs, traditions and culture of the society. In addition, the knowledge and experience gained can lead to harmonious and peaceful relationships.


Tourism has the power to transform the social, economic and cultural fabric of a country. 

The outlook for the tourism sector remains highly uncertain. The coronavirus (COVID-19) pandemic continues to hit hard, with international tourism expected to decrease by around 80% in 2020. Domestic tourism is helping to soften the blow, at least partially, and governments have taken impressive immediate action to restore and re-activate the sector, while protecting jobs and businesses. Many countries are also now developing measures to build a more resilient tourism economy post COVID-19. These include preparing plans to support the sustainable recovery of tourism, promoting the digital transition and move to a greener tourism system, and rethinking tourism for the future.


Coming off the worst year in tourism history, there’s little sense of optimism in the travel industry in early 2021. Following an estimated $1.3 trillion loss in export revenue in 2020, travel restrictions are being reintroduced at the start of the new year, as governments are trying to curb the spread of new, potentially more dangerous variants of the novel coronavirus.

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