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Questions and Answers
What is a direct result of tourism development projects?
What is a direct result of tourism development projects?
What is a significant source of revenue for governments due to tourism?
What is a significant source of revenue for governments due to tourism?
What is a positive impact of tourism on local residents?
What is a positive impact of tourism on local residents?
What is a characteristic of the tourism industry?
What is a characteristic of the tourism industry?
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What is a benefit of working in the tourism industry?
What is a benefit of working in the tourism industry?
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What is the estimated amount spent by international tourists on local airfares, accommodation, meals, shopping, goods, and attractions every year?
What is the estimated amount spent by international tourists on local airfares, accommodation, meals, shopping, goods, and attractions every year?
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What percentage of the world's Gross Domestic Product (GDP) is generated by international and domestic tourism?
What percentage of the world's Gross Domestic Product (GDP) is generated by international and domestic tourism?
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In how many of the 49 poorest countries in the world is tourism the largest foreign exchange earner?
In how many of the 49 poorest countries in the world is tourism the largest foreign exchange earner?
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How many people are employed worldwide in the Travel and Tourism industry?
How many people are employed worldwide in the Travel and Tourism industry?
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What is the rate at which job creation in tourism is growing compared to other industrial sectors?
What is the rate at which job creation in tourism is growing compared to other industrial sectors?
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What is a characteristic of many tourism jobs?
What is a characteristic of many tourism jobs?
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What benefits can tourism provide to development?
What benefits can tourism provide to development?
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What is a characteristic of travel agents or consultants today?
What is a characteristic of travel agents or consultants today?
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Study Notes
Importance of Tourism
- International tourism is the world's largest export earner and a significant factor in the balance of payments of many countries.
- Tourism is an "export" for any country that hosts or receives foreign visitors, generating revenue from foreign visitors' spending on local goods and services.
Economic Impact
- International tourists spend over $1 trillion US dollars on local airfares, accommodation, meals, shopping, goods, and attractions every year.
- Tourism generates up to 10% of the world's Gross Domestic Product (GDP) and often a higher percentage in small nations and developing countries.
- In 46 of the 49 poorest countries, tourism is the largest foreign exchange earner, creating employment, empowering citizens, and raising living standards.
Jobs in Tourism
- The travel and tourism industry employs over 200 million people worldwide, with job creation growing one-and-a-half times faster than in any other industrial sector.
- Many tourism jobs are in smaller or medium-sized, family-owned businesses, and often created in underdeveloped regions of a country, balancing economic opportunities.
Infrastructure Development
- The tourism industry stimulates governments and suppliers to invest in new infrastructure, improving living conditions for local residents and tourists.
- Tourism development projects build or improve airports, roads, marinas, sewage systems, water treatment plants, and restore cultural monuments, museums, and nature centers.
Tax Revenues
- Tourism generates hundreds of millions of dollars in tax revenues each year through accommodation and restaurant taxes, airport users' fees, sales taxes, park entrance fees, and employee income tax.
Key Learning Point
- Tourism is the world's largest growth industry with no signs of slowing down, offering opportunities for operating or working in a successful travel consultancy.
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Description
This quiz explores the significance of tourism in a country's economy, highlighting its impact on the balance of payments and its role as an export.
