ABSTRACT
Microfinance as a tool for poverty reduction and sustainable development of tourism has received extensive recognition in various parts of the world. Microfinancing activities have shown a tremendous impact on various developing countries like Bangladesh, India, Bolivia, Cambodia, Mangolia, Indonesia, and Philippines. The microfinance programs have proved to be a successful tool in reaching out to the poor and solving issues like poverty, removing gender disparity, unemployment, regional imbalances, alongside boosting tourism industry across the world. In India also, microfinance has proved to be effective and successful in transforming lives of the poor people residing in rural areas without access to financial services and in the process enhancing tourism potential through encouraging nature-based tourist activities, particularly in the regions having natural grandeur. If these programs are aligned with effective management strategies and if more emphasis is laid 126on their communicative dimensions, these can promote, as well as enhance, tourism and entrepreneurial activities in the socially excluded sectors of the society, and thereby connect them with rest of the world. Moreover, if certain NGOs come forward in effective training and development of the neglected parts of the society, it can work wonders. Communication with the marginalized/excluded sections of societies has been lacking at various levels in India. It is also true about people from various communities, castes, tribes, and societies across the globe. To connect with the marginalized with a view to benefit them, effective communicative strategies can surely play a great role in creating awareness about microfinance/microcredit. This chapter is a qualitative piece of work and its theoretical foundation is based on the review of literature and secondary data to support and develop a conceptual perspective. Moreover, an attempt has also been made to create a theoretical model to guide the policy makers or voluntary organizations in coming forward to initiate/support activities concerning empowerment of poor/deprived chunk of rural population through microfinance.
