Econimics Essay

1476 WordsJul 30, 20146 Pages
Tourism is one of the driving forces of economic development in industrialized, less developed and developed countries. The travel and tourism industry contributes substantially to: * strong economic growth * creation of skilled and semi-skilled jobs * greater export returns * foreign investments and currencies * economic well-being and social stability Travel and tourism is one of the world’s largest industries and generators of jobs. The tourism industry is labour intensive and provides a wide range of employment opportunities, especially for women and young people, helping to break the vicious cycle of poverty by enhancing human capital and also creating new prospect for future generations. The availability of jobs created by the tourism industry makes that jobs are spread across a wide range of industries and also offering a broad range of remuneration. Surely visitors’ expenditure in a destination flows directly to industries that serve or provide services to visitors and indirectly to the many other businesses that supply goods and services to the tourism businesses. In this way, the benefits from visitors’ expenditure flow right through local, state/provincial and national economies and throughout communities. To show how the tourism and travel industry are important, according to the World Travel and Tourism Council (WTTC), tourism and travel currently accounts for: * more than 100 million employed * over US$2 trillion in travel and tourism-related demand * approximately US$400 billion in export earnings Statistic received from the National Bureau of Statistic as per table below clearly shows that the number of workers employed in the tourism industry has for the past 6 years continued to increase. Table 1: Average employment in Tourism Industry | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | Tourism Industry | 8,310 | 8,877 |

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