Research by VisitBritain concludes that this growth means that tourism-related employment now accounts for 3.1m jobs in the UK – this is almost 10% of the entire UK workforce. It is therefore no exaggeration to say that tourism has been at the forefront of the UK’s economic recovery since the start of the Global Financial Crisis in 2008. What’s more, the growth created by the tourism industry has provided the UK economy with other employment-related benefits. Firstly, the growth and employment that has been generated by tourism has been spread widely across all regions. There is now only one region in the UK where tourism-related employment provides less than 100,000 jobs, while almost half the regions have over 200,000 people working in the industry.
Tourism is often referred to as a ‘multi-product industry that encompasses a number of different economic activities’ (Wall& Mathieson, 2006). The rapid development of the world economy in the past two decades alongside with global integration and globalization has led to a significant increase in the number of tourists travelling abroad for leisure and entertainment. According to the United Nations World Tourism Organization (UNWTO), the number of tourist arrivals reached an astonishing figure of 1.1 billion visits in 2014. Currently, tourism is one of the fastest growing and dynamic sectors of the world economy accounting for nearly 1.5 trillion US Dollars in receipts and exports accounting as one of the top 5 export earning sectors of the
According to the World Tourism Organization (WTO), tourism is something which goes ‘beyond the common perception of tourism as being limited to holiday activity only’, as people ‘travelling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business, and other purposes’. Tourism can be domestic or international, and international tourism has both incoming and outgoing implications on a country’s balance of payments. Now, tourism is a major source of income for many countries and affects the economy of both the source and host countries. Tourism brings in large amounts of income into a local economy in the form of payment for goods and services needed by tourists, accounting for 30% of the world’s trade of services and 6% of overall exports of goods and services. Tourism also creates opportunities for employment in the service sector of the economy associated with
Topic 2 The tourism industry constitutes a major economic sector for Hong Kong. The multicultural society, the modern lifestyle, and the impressive beauty of the countryside attract millions of tourists from around the world every year. However, recently there have been major problems such as dependent on mainland visitors, attraction of Hong Kong tourism, strong emphasis on expanding tourism, unfair treatment of visitors, with the tourist industry in Hong Kong. If action is not taken, an economic crisis may occur as the tourism industry may not support sufficiently for Hong Kong’s economy. This essay will examine the issue of tourism industry problems and suggest some solutions that overcome these crises.
Tourism is commonly related with international travel, but may also refer to travel to another place within the same country. Tourist is define as people “traveling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes” (The World Tourism Organization (UNWTO technical manual: Collection of Tourism Expenditure Statistics, 1995). Agreeing to UNWTO (2012), Tourism brings in large amounts of income into a local economy in the form of payment for goods and services needed by tourists, accounting for 30% of the world 's trade of services, and 6% of overall exports of goods and services. It also creates opportunities for employment in the service sector of the economy associated with tourism. Over the decades, tourism has experienced continued growth and expanding change to become one of the fastest growing economic sectors in
Compared to 2012, the direct value creation in tourism is therefore increased by 3%. Considering the indirect value added, this results in a value of 25 billion euros for 2013. The total expenditure of tourists and business travelers and relatives and friends visit amounted in 2013 to about 35.81 billion euros - of which 46.3% of foreign, 53.4% of domestic guests and 0.3% in the course of the stay in weekend houses and period residences. The majority of the spending by visitors accounted for the overnight tourism (62% for residents and 83% for foreigners). The expenses of day visitors thus amounted to 38% and 17% of total expenditure.
This trait of shopping emerge is many researchers (Jones, 1999). Empirically established that a large proportion of retail shoppers are recreational shoppers. (Bellenger and Korgaonkar, 1980). Tourism destinations have been attracted international tourist and great change economic impact and tourism development understood to improving a country’s economic growth and social well-being. (Eccles1995).
Most studies on economic impacts of tourism have dwelled on the positive side and slightly giving a blind eye on the negative imperatives (Andereck, Valentine, Knopf & Vogt, 2005:2). Tourism is widely perceived as a potential economic base, it provides elements that may improve quality of life such as employment opportunities, tax revenues, economic diversity, festivals, restaurants, natural and cultural attractions,and outdoor recreation opportunities. Arguably, tourism is the second largest industry in the world; estimates from the World Travel and Tourism Council (WTTC) suggest that it generates around 200 million jobs worldwide and accounts for10% of global GDP (WTTC, 2013). Tourism is a consumption-based industry and cannot be wholly
The bulk of tourist arrivals are in developed countries but now developing countries are also increasingly sharing in the tourism boom. Tourism has come to play an important role in the socio-economic development of a country. It is both cause and consequence of economic development. Travel today, is sold like any normal consumer product through retail outlets, wholesalers and even departmental stores of many countries. The reasons for travel too have changed over the span of time.
In 2004, more than 9000 tourist visited the country, which generated a revenue of us$12.45 million. (This is according to the geography supplementary text for class XII p.44) Unplanned and unrestricted growth of tourism has detrimental effects in the environment.