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Economic impacts of tourism

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  • Course
  • Introduction to Tourism and Hospitality Studies
  • Institution
  • Introduction To Tourism And Hospitality Studies

The economic impacts of tourism presentation is about overview, beneficial economic impacts, price and income elasticity, the economic impacts of tourists spending, foreign exchange, measuring economic impacts, direct, indirect and induced multiplier effects, the direct level of impact, indirect mu...

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Document information

  • November 29, 2022
  • 29
  • 2014/2015
  • Presentation
  • Unknown

Subjects

  • overview
  • foreign exchange
  • direct
  • indirect and
  • economic impacts of tourism
  • beneficial economic impacts
  • price and income elasticity
  • the economic impacts of tourists spending
  • measuring economic impacts

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  • Introduction to Tourism and Hospitality Studies
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Content preview

Introduction to Tourism and
Hospitality Studies



The Economic impacts of tourism

, Overview
• Travel & Tourism is an important economic activity in most
countries around the world. As well as its direct economic

• impact, the industry has significant indirect and induced impacts.

• It is the economic impacts that are the driving force for tourism
development

• Tourism is a service based industry and the reason for service
sector growth

• Tourism, a major element of the service economy has a
sustained and rapid growth
2

, Overview
• Despite recessions over and over again tourism has continued
to grow

• The economic significance of tourism is determined by the type
and nature of the economy being considered- e.g.- tourism
generating economy and economies dependent on tourism
activity

• Despite progressive downgrades to growth forecasts through
2011, the industry grew by 3% over the course of the year (in
terms of Travel & Tourism’s contribution to GDP

• Tourism’s direct contribution to GDP in 2011 was US$2 trillion
and the industry generated 98 million jobs. 3

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