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Economic impact of tourism
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Economic importance of tourism

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Economic importance of tourism

  1. 1. Socio-Economic Importance of Tourism<br />BY:<br />SHANTIMANI SATHWARA<br />ASST.PROF. PCTE<br />
  2. 2. SOCIAL IMPORTANCE OF TOURISM<br />Relation between the tourist as an individual or a member of group and the social network such as family, friend, neighbour, where the tourist is seen as a representative of the home reference group.<br />Social relations of the tourists group itself, its composition, its tour programme and relations with other groups it encounters.<br />Guest host relations including those who serve the industry and the host population at the destination.<br />
  3. 3. SOCIAL IMPORTANCE OF TOURISMContd……<br />When the tourist comes into contact with the places he visits and its population, a social exchange takes place. His social background affects the social structure and mode of life of his destination, he is in turn affected by it and sometimes carries back home with him new habits and way of life. Travel experiences often are among the most outstanding memories in the traveller.<br />The early motivation of travel is regarded as cultural and tourism is been a carrier for the cultural propagation, which is necessary for a deeper understanding of people and broadening of knowledge. <br />
  4. 4. Economic Importance of Tourism<br />Tourism is the one of the most important aspect for developing countries.<br />Both domestic and international tourism must be considered to evaluate the impact of tourism on the economy.<br />To the host region/area travel provides a basis for developing tourism as an export industry, which means that the level of economic activities of the area shall increase through the sale of products and services to the tourists.<br />
  5. 5. Economic Importance of TourismContd….<br />Tourism provides foreign exchange without exporting anything out of the country and it provides more stable earning for the country than any other industry.<br />It increases export earnings and a rate of growth of the economy. <br />The income in the form of foreign exchange earning from an invisible exports helps in off setting the loss if any, which the country may have from a visible export.<br />
  6. 6. Economic Importance of TourismContd….<br />This balance of payments may also be defined as “ a statement of income and expenditure on international accounts”.<br />Payments and receipts on international account are of three kinds:<br />A) Visible balance of trade (relating to the export and import of goods and commodities manufactured). <br />B) Invisible items(relating to services such as transport, shipping, banking, insurance)<br />C) Capital Tranfers<br />
  7. 7. Economic Importance of TourismContd….<br />Apart from revenue increase the tourism also has impact on employment generation.<br /> Accelerate the development of an area.<br />The amount of visitors expenditure that remains in an area and provides a source of income to residents and businesses is called Direct effect and this money is further paid to suppliers, wages of workers and other items used in producing the products or services purchased by the visitors is secondary effect. <br />
  8. 8. Economic Importance of TourismContd….<br />Tourism and Tax earning: The government of almost all countries have always vested interest in the financial gains through tourism industry.<br />Depending upon the tax and fiscal policies government derives substantial income from tourism industries and direct and indirect taxes are levied on different forms of income and economic activities.<br />
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