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Papers > Foreign > TOURISM INDUSTRY ITS IMPACT ON LOCAL ECONOMY
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TOURISM INDUSTRY ITS IMPACT ON LOCAL ECONOMY |
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... Tourism Industry, an important part of the Export Industry Tourism industry counts for 11% of the worldwide GDP and is the most important export industry worldwide, ahead of petroleum, food and automotive products. Every 9th employee worldwide is directly or indirectly involved in the tourism industry. ... For 83% of the countries worldwide, the tourism industry is one of the top GDP contributors of the export industry. Tourism also creates strong linkages with other sectors in the economy, magnifying its economic benefits and importance. ... Trends / Expectations The tourism industry is continuously growing, with the exception of the year 2001, which has been the first year of negative growth (-0.6%) for international tourism since 1982, mainly due to September 11th. The World Tourism Organization (WTO) expects international tourist arrivals to double within 20 years (2000 – 2020). ... Developing countries currently have only a minority share of the international tourism market (approximately 30%) but this is growing. ... TOURISM 2020 VISION (according to WTO) 2. Impact on developing countries 2. ... Positive Impacts Economic improvement (increase of GDP): Tourism industry can contribute to a high extent to the wealth of a country and has a positive effect on the GDP. In some countries, where there is no other export industry, tourism plays an even more important role. ... Much is earned from tourism also through informal employment such as street vendors, informal guides, etc. The positive side of informal or unreported employment is that the money is returned to the local economy. Direct Income from tourism: Hotels / Transports / Tourist taxes / Restaurants / Souvenirs Indirect Income from tourism: Food / Energy industry / Construction industry / Services like Banks Foreign (hard) currency: $$$ Tourism expenditures and the export and import of related goods and services generate income to the host economy and can stimulate the investment necessary to finance growth in other economic sectors. For 38% of the countries worldwide, tourism is the main source of foreign currency. Employment: Tourism is a labour intensive industry. It generates jobs directly through hotels, restaurants, nightclubs, taxis, and souvenir sales, and indirectly through the supply of goods and services needed by tourism-related businesses (like banks). Unfortunately, in some regions the seasonal character of the tourism industry creates economic problems for destinations that are heavily dependent on it. ... There are countries where employees can make a good living of working in the tourism industry (an average tour guide in Egypt earns more than a scientist, teacher, etc). Other countries have the reputation of paying very low salaries in the tourism industry, employing mainly foreigners and women. In Switzerland for example, salaries in the tourism industry are amongst the lowest (apart from agriculture, which is even lower). Preserving natural resources and local culture: As a natural resource-dependent industry, tourism also creates economic incentives to preserve and manage the natural resources in a sustainable manner. ... However, this may be judged also as a negative impact. Improved Infrastructure: Infrastructure that has originally been improved and built in order to push the tourism industry, is also of beneficial to the locals (Airports, Train networks, Roads). ... Negative Impacts Living costs for locals increase: Increasing demand for basic services and goods from tourists will often cause price hikes that negatively affect local residents whose income does not increase proportionately. This makes it more difficult for local people, especially in developing countries, to meet their basic daily needs. Tourism development and the related rise in real estate demand may dramatically increase building costs and land prices. |
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Title: TOURISM INDUSTRY ITS IMPACT ON LOCAL ECONOMY
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