Tourism Industry Essay

Tourism Industry a Major Source of Income Essay

670 Words3 Pages

Tourism is recognized as a big industry worldwide which is a key sector of development in several countries and a major source of income, jobs and wealth creation and also influencing complementary investment and domestic policies. This range of influence and importance creates challenges to measurement in tourism. The most industry activities can be measured by clear statistics such as agricultural industry and automobile or electronics manufacturing. While, Tourism is a large and complex industry which is rather difficult to measure is a key component of the services economy.

Tourism industry basically can be measured by research reports and statistical data which are conducted by various related organizations on tourism and economic…show more content…

Tourism is recognized as a big industry worldwide which is a key sector of development in several countries and a major source of income, jobs and wealth creation and also influencing complementary investment and domestic policies. This range of influence and importance creates challenges to measurement in tourism. The most industry activities can be measured by clear statistics such as agricultural industry and automobile or electronics manufacturing. While, Tourism is a large and complex industry which is rather difficult to measure is a key component of the services economy.

Tourism industry basically can be measured by research reports and statistical data which are conducted by various related organizations on tourism and economic sector as The United Nations World Tourism Organization (UNWTO), The World Tourism and Travel Council (WTTC), The Organization for Economic Co-operation and Development (OECD) and Tourism Satellite Account (TSA) that is a basic economic tool to measure the tourism industries on the economy. In terms of indicators based on the purpose of this paper seeks to measure the impacts or benefits, competitiveness and future development in tourism. indicator Core Supplementary Future development
Tourism performance and impacts -TDGDP
-Inbound tourism expenditures
-Exports of tourism services Ability of a destination to deliver quality and competitive tourism services -Labor productivity -Air connectivity and inter-modality -Government budget

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Essay on The Tourism Industry

1222 Words5 Pages

The Tourism Industry

Tourism is regarded as one of the most efficient, organised and marketed commodities in the world. Accounting for more than $655 billion of global income per year and 70 million jobs worldwide, the tourism industry has become the largest in the world; exceeding the oil and car industries.The World Trade Organisation definition of tourism is activities that require travel from home and staying away from home for at least 24 hours. It not only includes holidays (although they do account for 70% of all journeys), but business trips or visiting friends or relatives.

The tourism industry can be separated into two different categories. These are international tourism, where a…show more content…

In addition, as more tourists enter the country, more money is earned through tourist spending, which can be used for further development. For example, the 27.8 million overseas visitors who came to the UK in 2004 spent over £13 billion (which was a 12% increase in the number of visitors compared with 2003, and a 10% increase in spending).

Britain was the first European country to industrialise by 1800 and the industrial society was the first society to offer time for leisure to a growing number of people. Initially this did not apply to the working masses, but rather to factory owners and traders. These comprised the new middle class. The British origin of the tourism industry is reflected in many place names. For example, in Nice, one of the first and best established holiday resorts on the French Riviera, the long boulevard along the seafront is known as the ‘Promenade des Anglais’.

Tourism did not spread to LEDCs or NICs, such as those in South America and South East Asia, until the 1980s due to the lower living standards and lower rate of economic development. However, as countries in these regions, such as Brazil, Singapore and Malaysia, are beginning to industrialise, living standards are increasing. For example, in 1995 GDP per capita in Brazil was $6150

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