<Can someone tell us why the 500 crore INCREASE in foreign exchange THIS fiscal year? And how much has translated into increased state tax receipts? This 500 crore (increase) is into Goa's local economy spent by tourists' consumers at the retail level. And of course this does not include the tourist expenditures by Indians / non-foreigners who visit Goa. They are reported / estimated to be 60% of Goa's tourists. We are told this year, IFFI and SFX exposition cost the Goa government 125 crore (75 + 50). By my calculations, and I hope the accountants come to the same conclusions, that is some pretty good 'return on investment' for native Goans. Please educate me otherwise. I am all ears.> [Gilbert Lawrence, Dec 27]
Not so fast! The Seminar issue is dated NOVEMBER 2004. Hence the material predates IFFI/SFX. The estimate of a Rs 500 cr increase in tourist FX earnings over the "average" figure of previous years (not the actuals for 2003-04) may be based on projected increases in tourist arrivals in Goa based perhaps on international trends etc. It would be premature to ascribe the increase in FX earnings to IFFI/SFX and conclude about good ROI from it.
