A Comprehensive Study of The Economic Impacts of Homestay Accommodations on Operators In Himachal Pradesh

Abstract

This study explores the economic impacts of homestay accommodations on operators in Himachal Pradesh, India. The growing popularity of homestays has generated income, improved living standards, and transformed occupations for operators, particularly in rural areas. Using factor analysis, five distinct factors were identified: Economic Impact and Income Generation, Standard of Living and Financial Independence, Employment and Community Development, Business Adaptability and Market Flexibility, and Rural-Urban Economic Benefits and Occupational Transformation. Regression analysis using SPSS revealed that economic impacts significantly empower operators, while financial independence and market flexibility also play vital roles. The study concludes that homestays are an effective tool for regional economic development, with policy implications for expanding the industry.