Key Concepts in Tourist Studies provides a focused, quick reference guide for students exploring the fast growing and diverse field of tourist studies.Chosen by experienced teachers and researchers each concept defines, explains and develops a key topic in tourism and will act as a springboard for further reading and debate. This is an essential resource for all students of tourism.

Economics of Tourism

Economics of tourism

The economics of tourism refers to the contribution that tourism makes to global, national and local economies. This can include income, employment and exports.

The World Travel and Tourism Council (WTTC, 2008a) estimates that tourism's contribution to global economic activity and employment is expected to continue increasing over the coming ten years. Travel and tourism contribute to a number of economic areas, these being:

Gross Domestic Product: In 2008, this was somewhere around 10 per cent on average in receiving countries.

Employment: In 2008, around one in every eleven jobs was in tourism. Exports: In 2008, export earnings from international visitors and tourism goods generated around 11 per cent of total exports.

These statistics are expected to continue growing until at least 2018, ...

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