State whether right or wrong with reasons:

Tourism is an invisible trade.

Yes, the statement is correct. An invisible trade is a business transaction that occurs with no physical exchange of goods. The transfer of services occurs in invisible trade. In such a case, tourism is an invisible trade. It involves the exchange of services in hotels, restaurants, travel agencies and concerned financial institution. It involves the flow of money even if there is no direct transfer of commodities. Also, many people are connected by the tourism industry. It leads to the generation of income with no physical trade. Thus, tourism can be called an invisible trade.