Essay On Impact Of Tourism On Global And Local Economy

Tourism has massive effects on the global and local economy. Globally tourism promotes economic growth by international cooperation, the movement of cultures and ideas and developing a very delicate balance of trade within our economy. While locally, the effects are much more apparent and work from within to improve the overall well being of cities. By the use of the multiplier effect tourist and tourism promotes small business and the movement of money from travelers throughout the city. This movement can heighten tax revenue, create a more diverse culture and improve the overall morale of a city. One of the biggest effects of tourism on the economy is the overall economic growth it provides. By promoting international cooperation throughout

These impacts being social, cultural, economic and environmental. To develop local tourism huge money must be invested in the heritage of a specific place, the upkeep of local facilities and the improvement of infrastructure. With all of these societal changes better education is developed, technological advances are made, general welfare is boosted and new tax revenue is generated. By new tourists coming in from all parts of the world the locals get the chance to “interact with the tourists, mix with people from diverse backgrounds which creates a cosmopolitan culture in the region” (Mdusm, Prince). The growth of an economy, due to the demand of better services and growing social atmosphere, employment opportunities are created which causes locals to stay in the inner city rather than travel to other areas to earn their living. With all of these positive changes tourism can create some downfall. Due to the mass intrusion of outsiders local culture could be in jeopardy and native customs and traditions could be lost. If not enough funds are put towards infrastructure the heavy traffic created by the new movement could lead to overcrowding and in worst cases poor sanitation throughout the