The Impact Of Travel And Tourism

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The travel and tourism industry is an increasingly significant part of the employment structures of advanced industrial nations and lesser-developed countries as the largest industries in the world in terms of both number of employment and revenue. According to United Nation World Tourism Organization (UNWTO), a total of US$ 1,075 billion in international tourism receipts were generated by 1,035 million international tourism arrivals in 2012, the highest number ever recorded (UNWTO, 2013). Tourism offers great experiences for tourists and provides employments (albeit sometimes seasonal) and incomes for people. In 2012, travel and tourism accounted for 9% of global gross domestic product (GDP), one in 11 jobs, 5% of global investment and 5% of world exports (World Tourism and Travel Council, 2013). The industry’s direct contribution to global GDP is projected to grow by an average of 4.4% per annum over the next ten years and to outpace growth in the wider economy and other industries such as retail and public services (WTTC, 2013). In addition, the international arrivals are expected to reach nearly 1.8 billion by the year 2030 (UNWTO, 2013).

The growth of tourism industry means open more opportunities for investment because it has become a highly dynamic spatial network production and consumption. It is implicated in some of the critical theoretical issues of current concern to economic geographers such as the globalization of capital and firms, deindustrialization and
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