President Rafael Correa quadrupled the budget from US$40 million to the US$150 million per year which it currently is in 2017. Across the country over 30 touristic projects are in development, representing around US$1.6 billion in investments since 2013 from local and foreign funding. The public policy towards tourism is based on five core values: Safety, Quality, Destinations and Products, Connectivity and Promotion. Domestic financing has been the main aid in positive development but a substantial amount of foreign investment has contributed. The successful “Invest Ecuador Tourism” campaign helped immensely in attracting investment from abroad.
For example, portals can be great tools to let people around the world know about interesting places in your country and therefore attract tourists worldwide and hence improve the economy of your country. Portals can also exhibit many information about different places in Oman or other countries, which might not be famous. Raising people’s awareness about many important cites is also another benefit of tourism portals. Festivals and important events in a country can be known from tourism portals also. All these things can lead to improvement of tourism and hence the economy of the country.
Their businesses contributed over 600 billion dollars in revenue to the national economy in 2015. Hispanics continue to experience a higher rate of self-employment than the general American population. This means that soon Hispanics will have more economic power, employ a larger proportion of the population and purchase and consume considerably more goods and services than they are doing today. This dynamic growth of Hispanic-owned business is really likely to transform the economic landscape in the United States in the years to come as they collectively contribute to
Cruise tourism is one of the largest components in tourism industry and also one of the fastest growing industry in the world. It has generating revenue and creating job opportunities in many country. The growth rate of cruise tourism has been almost twice the average rate of traditional land-based tourism. Cruise tourism has provide few real jobs and business opportunities for local resident. The impact of cruise tourism on a location are not only positive but also has its negative.
Economical Factors China is seen as one of the most energetic countries in the world when it comes to economic development. The new reforms in 1978 stimulated the Chinese GDP growth from 364 billion RMB to 63.6 trillion RMB within 30 years (chinability.com, 2015). China has persisted to be a primary beneficiary of the world’s destination of Foreign Direct Investment in the latest period. FDI reports 27% of the value added production, 4.1% of national tax revenue, and 58% of foreign trade (usi.edu, 2010). China was facing an economic growth and a huge development, even though the international financial crisis of 2008 left some marks on several aspects of China, above all the export-oriented light industry in southern China (chinapolitik.de, 2009).
Over the past few decades, tourism has experienced the sustained growth and deepening diversification to become one of the fastest growing economic sectors over the world. Nowadays, the business volume of tourism can be said to be equals to or even surpasses the business volume of food products, automobiles or oil exports. Tourism plays an important role in almost every country due to it has a greater impact on the development of country economy. The main benefits of tourism are creating extra money for national income and creating more career opportunities for locals. One of the easiest benefits to determine is the career opportunities that the tourism brings.