IMAGES

  1. 10 Economic impacts of tourism explanations examples

    economic impacts of tourism development

  2. The Importance of Tourism in Any Country

    economic impacts of tourism development

  3. Impact of Tourism Industry on Economy- Orient Exchange

    economic impacts of tourism development

  4. The Economic Impact of Tourism: What You Need to Know

    economic impacts of tourism development

  5. 10 Economic Impacts Of Tourism + Explanations + Examples

    economic impacts of tourism development

  6. PPT

    economic impacts of tourism development

COMMENTS

  1. 10 Economic impacts of tourism + explanations + examples

    Development of the Private Sector. Negative economic impacts of tourism. Leakage. Infrastructure cost. Increase in prices. Economic dependence of the local community on tourism. Foreign Ownership and Management. Economic impacts of tourism: Conclusion. Further reading on the economic impacts of tourism.

  2. What is the impact of tourism on development?

    After surpassing 1 billion international visitors in 2012, we are expecting 1.8 billion by 2030. Tourism is growing faster than the global economy and, for the first time, the statistics for 2015 are expected to show that there were more trips taken to the developing world than to the developed world. But what does this actually mean?

  3. Tourism and its economic impact: A literature review using bibliometric

    Through several channels, tourism may bring poverty relief in a broader context of economic growth (Blake et al., 2008); for many countries, tourism development may represent a good prospect for poverty reduction, despite governments do not take necessarily tourism seriously, failing to support a direct connection with the economic growth ...

  4. Tourism's Importance for Growth Highlighted in World Economic ...

    According to the World Economic Outlook (WEO) Report, the global economy will grow an estimated 3.0% in 2023 and 2.9% in 2024. While this is higher than previous forecasts, it is nevertheless below the 3.5% rate of growth recorded in 2022, pointing to the continued impacts of the pandemic and Russia's invasion of Ukraine, and from the cost-of ...

  5. Role of Tourism in Sustainable Development

    Background. Tourism is one of the world's largest industries, and it has linkages with many of the prime sectors of the global economy (Fennell, 2020).As a global economic sector, tourism represents one of the largest generators of wealth, and it is an important agent of economic growth and development (Garau-Vadell et al., 2018).Tourism is a critical industry in many local and national ...

  6. 4. Key findings

    Several key findings have been identified in the Travel & Tourism Development Index (TTDI) 2021 results and research.First, the need for T&T development has never been greater as it plays a critical role in helping the global economic recovery by supporting the livelihoods of some of the populations hardest hit by the pandemic and by building resilience, especially when it comes to lower ...

  7. Economic contribution of Tourism and beyond: Data on the ...

    Implementation of standards accounting tools to monitor the economic and environmental aspects of tourism sustainability (indicator 12.b.1) Indicator 12.b.1 shows the preparedness of countries to "develop and implement tools to monitor sustainable development impacts for sustainable tourism" called for in target 12.b under Goal 12 on Sustainable Consumption and Production.

  8. Tourism and economic development: A literature review to highlight main

    After the publication of a significant number of papers analyzing the tourism-led growth hypothesis (TLGH), a new line has arisen within the scientific literature, which attempts to analyze the capacity of tourism as an instrument of economic development, given that this concept has been widely linked to both economic aspects and socio-economic conditions of the resident population.

  9. Tourism and COVID-19

    Tourism is one of the sectors most affected by the Covid-19 pandemic, impacting economies, livelihoods, public services and opportunities on all continents. All parts of its vast value-chain have been affected. Export revenues from tourism could fall by $910 billion to $1.2 trillion in 2020. This will have a wider impact and could reduce global ...

  10. Modeling the link between tourism and economic development ...

    Having previously analyzed the relationship between tourism and economic growth from distinct perspectives, this paper attempts to fill the void existing in scientific research on the relationship ...

  11. Sustainable tourism

    Tourism is one of the world's fastest growing industries and an important source of foreign exchange and employment, while being closely linked to the social, economic, and environmental well-being of many countries, especially developing countries. Maritime or ocean-related tourism, as well as coastal tourism, are for example vital sectors of the economy in small island developing States ...

  12. Economic development, tourism

    Economic impact. Much work on tourism development focuses on the economic benefits to host destinations, including increased income, taxes, employment, and economic diversification and regeneration. Tourism, as an economic activity, is being used to help support or bolster an economy and regional development. Tourist spending is a prime source ...

  13. The relationship between tourism and economic growth ...

    Tourism has become the world's third-largest export industry after fuels and chemicals, and ahead of food and automotive products. From last few years, there has been a great surge in international tourism, culminates to 7% share of World's total exports in 2016. To this end, the study attempts to examine the relationship between inbound tourism, financial development and economic growth ...

  14. Toward an accurate assessment of tourism economic impact: A systematic

    Three concepts—economic growth, economic development, and economic impact—are frequently utilized to measure the economic output of tourism development (Comerio and Strozzi, 2019). Economic growth refers to long-run growth in national outputs caused by increases in capital and productivity ( Lucas, 1988 ; Song and Wu, 2022 ).

  15. U.S. Tourism: Economic Impacts and Pandemic Recovery

    Further, while gross domestic product (GDP) for the United States as a whole grew at a 5.9% rate in 2021, travel and tourism GDP grew by 64.4% that year.2 Congress has taken an interest in tourism generally for decades, and has specifically been interested in the industry's recovery following the pandemic.

  16. World Economic Impact Report 2023

    St Lucia Economic Impact Report 2023. Discover the importance of Travel & Tourism to the World economy with this new report from the World Travel and Tourism Council. Featuring granular detail across many metrics and facets of the sector, this report will give you an insight into how Travel & Tourism is growing and changing, as well as ...

  17. Aligning tourism's socio-economic impact with the United Nations

    1. Introduction. Tourism economic impact studies are regularly conducted to estimate the industry's contribution to economic growth and development (Comerio & Strozzi, 2019).As addressed by the United Nations Sustainable Development Goals (SDGs), it is globally recognized that regional development should aim for environmental, economic and sociocultural sustainability (UN, 2020).

  18. Sustainable Tourism Development and Economic Effects: Recent ...

    This Special Issue aims to contribute to the sustainability literature by exploring the economic effects of sustainable tourism development. Sustainable tourism development is related to the environmental, economic, and sociocultural aspects, and a proper balance should be developed between these three dimensions to guarantee its long-term ...

  19. (PDF) Socio-economic Impacts of Tourism Development and Their

    Tourism contributes to the economic development of businesses and governments, provides employment and income opportunities for locals, foreign exchange inflows for countries, and supports the ...

  20. UN report Underscores Importance of Tourism for Economic ...

    The latest edition of the UN World Economic Situation and Prospects report uses key UNWTO data on international tourist arrivals and tourism receipts to illustrate how the pandemic's impact has been felt beyond the sector itself. International tourist arrivals plunged by 73% in 2020, dropping to levels not seen for 30 years.

  21. (Pdf) Positive Vs Negative Economic Impacts of Tourism Development: a

    The current paper reviews and compares positive and negative economic impacts of tourism development as tourism has become an important economic sector and a major contributing driver of economy ...

  22. The Economic Impact of Tourism: What You Need to Know

    The impact of tourism on the economy extends beyond generating income and employment. It acts as a growth engine, stimulating investment in infrastructure, promoting sustainable development, and fostering the conservation of cultural and natural heritage. This multifaceted influence demonstrates how tourism is fundamental to global economic ...

  23. The impact of economic and environmental factors and tourism policies

    In any country, the tourism industry has great significance to economic development and social prosperity. It creates revenues for the country in the form of national currency or foreign exchange from the tourists, generates taxes from tourism, and stimulates the productivity of other related commercial enterprises (Xu and Gu 2018).It can achieve many progressive opportunities from economic ...

  24. Tourism as a Tool for Socio-Economic Development

    Tourism is widely seen as a major economic driver, with a multiplier effect on related businesses such as hospitality. Inbound tourism earnings spill over into other industries, improving the local population's financial well-being and standard of living. The most essential economic element of tourism-related activities is that they help developing countries achieve three high-priority goals ...

  25. On the Optimal Relationship between Tourism and Economic Development

    This note explores the association existing between the relevance of tourism in an economy and the level of economic development attained. Using the Human Development Index (HDI) as a development measure and data on tourism's contribution to GDP and employment in Spanish regions in 2021, we analyze this relationship to determine its functional ...

  26. Assessing the socio-economic impacts of tourism packages: a ...

    Purpose. The effects of tourism extend beyond purely economic considerations; they also have an impact on both the environment and people. Development of tools and procedures that foster consensus among practitioners and enable the measurement and benchmarking of impacts are required for tourism managers to be able to work on lowering and mitigating the sector's effects, while enhancing the ...

  27. Tourism's impact in Washington County

    By Jeff Kotula A study by the Pennsylvania Department of Community and Economic Development (DCED) again demonstrated that Washington County's tourism industry continues to be a major driver in our local economy and a leader in our region. ... According to the report, travel and tourism direct impacts for visitor spending in Washington County ...

  28. Innovation, Science and Economic Development Canada's 2024-2025

    From the Minister. It is our pleasure to present the 2024-25 Departmental Plan for Innovation, Science and Economic Development Canada (ISED), which lays out the key priorities the Department is working to advance for the benefit of all Canadians. In 2024-25, ISED will continue working with the Innovation, Science and Economic Development ...

  29. Sustainable development

    "Tourism that takes full account of its current and future economic, social and environmental impacts, addressing the needs of visitors, the industry, the environment and host communities" ... Sustainable tourism development guidelines and management practices are applicable to all forms of tourism in all types of destinations, including mass ...

  30. Does tourism development, financial development and ...

    Tourism development is generally agreed upon to be a key tool in promoting economic growth, and green development has emerged as a significant idea and an efficient approach to accomplish this goal in a manner that is environmentally responsible. It is common knowledge that making the switch to renewable sources of energy may act as a catalyst for economic development in both developed and ...