The interaction between tourists and poor communities can provide a number of intangible and practical benefits. These can range from increased awareness of cultural, environmental, and economic issues and values, on both sides, to mutual benefits from improved local investment in infrastructure. At the world conference held in Manila on tourism in 1980, importance of tourism and its effects were recognized in the declaration, which stated as; ‘’tourism is an essential activity both on the life of the nation since its direct and indirect effects on economical, social, cultural, and educational sectors of the society and their international relations’’. Economic benefits of tourism 1. Contribution to Gross Domestic Product; Tourism is being one of the world’s largest industries and contributes directly and indirectly (total contribution) to the global economy.
12. Through the wide range of services needed to satisfy its requirements, tourism creates new activities of considerable importance which are a source of new employment. In this respect, tourism constitutes a positive element for social development in all the countries where it is practised irrespective of their level of development. 13. With respect to international relations and the search for peace, based on justice and respect of individual and national aspirations, tourism stands out as a positive and ever-present factor in promoting mutual knowledge and understanding and as a basis for reaching a greater level of respect and confidence among all the peoples of the world.
Tourism is viewed as an environmentally friendly way to revitalize distressed rural communities and economies (Sekhar, 2003). Tourism has emerged as the largest global industry of the 20th century and is projected to grow even faster in the 21st century. Recently, academicians have paid attention to the changing patterns of tourism as an embodiment of broader societal changes and the shift towards post-modernism. It is said that leisure related activities have become increasingly commoditized, reflecting a global “culture of consumption” (Gupta, 2011). Tourism is one of the world’s most rapidly growing industries and it has emerged as a fast growing sector in terms of employment and income generation.
As tourists, are we responsible for exploiting workers, upsetting cultures and damaging the environment? Tourism is the world 's fastest growing industry, worth several trillions of dollars. Developed countries, such as Italy or France continue attracting tourists all over the world , hence promoting a constant economic growth. On the other hand, developing countries such as Thailand, have harnessed the rapid expansion of global tourism, to promote fast economic growth. Due to economic and political differences between growing and developed countries, tourism and tourists differently affect countries they visit.
Chapter One First, Introduction: Tourism is the fastest growing industry, which provides enormous compensation to both local and global community. The sector participates in financial activities all over the world and it creates wide job opportunities. Great development in the tourism sector remains to have a vast influence on financial growth in several fields as it works as a motivation for economic development. Furthermore, financial growth of the nations improves development of the tourism sector; consequently, an economic fluctuation will have an unfavorable result on tourism. Current credit crunch crisis has evolve from other key crises that have happened in industrial world in recent decades and spread to emerging economies and less
“I think every country has to recognize its competitive advantage and liberate its strengths to be a partner in global trade, and that 's the only way you can survive and succeed.” - N. R. Narayana Murthy, Founder Infosys International Trade, External Trade or Foreign Trade has only increased in scope and impact in the world today. 1.1.1. (i) Meaning of Foreign Trade: Trade is the lifeline of a nation. What does the term Foreign Trade mean? It is simply the trade carried on between two or more countries.
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.
Cunha(1997) adds that there have always been several tourist motivations to travel, be they religious, commercial, sport, leisure or the simple desire to know other people and cultures.Tofurther enhance the growth and development of tourism, Macintosh (1995) highlighted the following factors: the onset of motor traffic, the extension of paid leave, the trend of annual real wages, the tendency to a certain economic smoothing, reduction of hours work and the consequent increase of free time available, the increasing life expectancy, the reforms and the monotony of some current professions. Cooper, Fletcher, Wanhill, Gilbert and Shepherd (1998) believes that tourismindustry is a major economic activity worldwide, and is now a vital activity for various countries and regions with a continuous growth of this activity over the past few years (Krippendorf, 1989).Beni (2003) considered that all tourism activities that make up the tourism, hotel is one of the most important sub-sectors, with the housing to establish itself as a key component of this activity by checking the increase in the number of hotel establishments, while growing tourist activity (Batista, 2003). Pine (1995) considered that the evolution of transport, technologies and the phenomenon of the globalization, along with the changes
The report also revealed the astonishing fact that the region showing the strongest demand for international tourism was South East Asia with growth of 10%. Tourism as an industry can no longer be ignored as its total contribution in the year 2013 towards world GDP has been estimated at 6,990 billion dollars which is almost 9.5% of total world GDP and employs 266 million people directly or indirectly which forms one in every eleven individuals in the world . Therefore every country which has the potential of attracting tourists will have to gear up to grab this opportunity as this industry has outpaced other sectors such as manufacturing, transport and even financial