This document discusses different types of tourism and their economic impacts. It defines inbound and outbound tourism for both international and domestic tourism. It then explains some of tourism's key economic effects, including generating income through wages, taxes, and business profits; creating employment opportunities both directly and indirectly; stimulating a multiplier effect through re-spending of tourism dollars in the local economy; and contributing positively to a country's balance of payments by bringing in foreign currency from international visitors. It notes that tourism is a major income generator for many countries and regions.
Differentiate the difference among direct, indirect, induced, and dynamic impacts of tourism on the economy;Identify the positive and negative impacts of tourism on the economy.
Differentiate the difference among direct, indirect, induced, and dynamic impacts of tourism on the economy;Identify the positive and negative impacts of tourism on the economy.
What is international tourism?
• Tourism is the generic term used to cover both demand and
supply that has been adopted in a variety of forms and used
throughout the world. International tourism essentially
refers to the activities undertaken by visitors, also known
as the visitor economy. The tourism industry encompasses
all activity that takes place within the visitor economy.
• This includes activities that are directly related to the
tourist, such as staying in a hotel, ordering a meal or
visiting a tourist attraction. It also includes indirect
activities, such as the transport company which delivers
the food to the restaurant in which the tourist eats or the
laundry company that has a contract with the hotel for
cleaning bed sheets.
• It is largely due to the indirect contributions to tourism,
that defining and measuring the tourism industry is so
difficult!
International tourism definitions
• Tourism is a phenomenon with no universally accepted
definition, owing to the complexity and individualism of
the travellers themselves and the activities that they
choose to undertake.
• The most widely utilised definition of tourism, proposed
by the World Trade Organisation (WTO) and United States
(UN) Nations Statistics Division (1994), prescribes that
in order to qualify as a tourist one must travel and remain
in a place outside of their usual residential environment
for not more than one consecutive year for leisure,
business or other purposes.
• Matheison and Wall (1982) on the other hand, do not impose
a timeframe, simply stating that one must travel to a
destination temporarily.
• Leiper (1979) believed that defining tourism is more
complex than this, proposing that there are three
approaches that can be taken. The economic stance focuses
on tourism as a business, the technical stance focusses on
the tourist in order to provide a common basis by which to
collect data and the holistic stance attempts to include
the entire essence of the subject.
• The Cambridge Dictionary define tourism quite simply as;
‘the business of providing services such as transport,
Tourism is travel for pleasure or business; also the theory and practice of touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tours.
Unwto paper Macroeconomic Analysis ToolsDavid Vicent
Exploring the Full Economic Impact of Tourism for Policy Making:
Extending the Use of the Tourism Satellite Account through Macroeconomic Analysis Tools
The Employment Effect of Tourism: A Dynamic AnalysisAJHSSR Journal
ABSTRACT: The tourism industry can bring various positive economic developments on Gross Domestic
Product, employment opportunities, national income and international trade throughout the economy. In recent
years, the tourism industry has attracted the attention of most governments including the Sri Lankan government
as the most promising sector to be a potential tool for generating income and employment. In this line, it has
proficient to create both direct and indirect employment for skilled workers and unskilled workers as well. This
study attempts to investigate the relationship between tourism and employment creation in Sri Lankaduring the
period of 1977-2017by employingeconometric techniques namely the Johansen cointegration test, Vector AutoRegressive (VAR) analysis, and Granger-causality test. Johansen Cointegration test was used to find the longterm association between tourism and employment creation and found that the absence of a long-run
relationship between two indicating tourism would not determine the employment creation in the long-term.
Furthermore, the Granger causality test was employed for investigating the short-term relationship and it
confirmed the existence of unidirectional causality between tourism and employment creation showing that the
tourism industry of Sri Lanka would lead to employment generation in the short term.
KEYWORDS: Employment creation, Granger causality tests, Tourism, Vector Auto Regressive
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6. Economic Impact Tourism is a powerful economic force providing employment, foreign exchange, income, and tax revenue. The generators of economic impact for a city, a state, a province, a country, or a destination area are visitors, their expenditures, and the multiplier effect
7. Economic Impacts We can say that incoming tourist spend is an export, while outgoing tourist spend is an import. Economic impact is measured in four ways: effect on income, on employment, on the area’s balance of payments and on investment and development
8. Effect on Income Income is generated from wages and salaries, interest, rent and profits. In a labour intensive industry such as tourism, the greatest proportion is likely to be derived from wages and salaries paid to those working in jobs either directly serving the needs of tourists or benefiting indirectly from the tourists’ expenditure.
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11. Tourism is the main income generator for one-third of the developing nations, It is also a major income generator in the Western world. In Britain, to take one example, tourism is of prime importance in areas where there is little industry, such as in the Scottish Highlands Effect on Income
12. Income is also generated from interest, rent and profits on tourism businesses. This could include, for example, the interest paid on loans to an airline in order to buy aircraft, or rent paid to a landowner for a car park or campsite near the sea. Effect on Income
13. Taxation on tourism activities, such as value added tax (and occasionally additional room taxes) on hotel bills, duty and taxation on petrol used by tourists, and other direct forms of taxation which countries may choose to levy on tourists to raise additional public income. In Austria, to give one example, there is a Kurtaxe imposed on accommodation to raise money for the local authority Effect on Income
14. Employment The World Travel and Tourism Council estimates that in 2008, employment in the travel and tourism economy was 238,277,000 jobs or 8.4 percent of total employment which is 1 in every 11.9 jobs. By 2018, this should grow to 296,252,000 jobs, 9.2 percent of total employment or 1 in every 10.8 jobs. The 80,749,000 travel and tourism industry jobs accounted for 2.8 percent of total employment in 2008 and are forecast to rise to 97,983,000 jobs or 3.1 percent of the total by 2018.
15. Tourism provides both direct and indirect employment. Firms such as hotels, restaurants, airlines, cruise lines, and resorts provide direct employment because their employees are in contact with tourists and provide the tourist experience. Employees of firms providing goods and services to the direct employment firms, such as aircraft manufacturers, construction firms, and restaurant suppliers, create indirect employment. Employment
16. Multiplier Effect Tourism’s contribution to the income of an area is enhanced by a phenomenon known as the tourism income multiplier (TIM). This arises because money spent by tourists in the area will be re-spent by recipients, augmenting the total. The multiplier is the factor by which tourist spend is increased in this process
17. The multiplier can be found by applying the formula: Multiplier = 1/ Proportion of leakages So in an economy with a high proportion of leakages, such as high tax rates (although we must remember that the government may choose to reinvest this tax money in the local economy, so much of it may not be lost for all time), or where many of the goods demanded by consumers are imported, TIM may be quite low, and the economy will not benefit greatly from tourism Multiplier Effect
18. Multiplier Effect Local hotels may also be foreign owned, so that profits achieved are then transmitted to the hotel chain’s head office and so lost to the area This might be true of other tourist facilities in the area, and even local ground-handling agents or coach operators may be owned by companies based elsewhere, leading to further losses in the multiplier effect. Leakage is minimum when the firms are in the hands of the locals hence TIM is higher
19. LEAKAGES The principal reasons for leakages include: cost of imported goods, especially food and drink foreign exchange costs of imports for the development of tourist facilities remittance of profits abroad remittance of wages by expatriates management fees or royalties for franchises payments to overseas carriers and travel companies costs of overseas promotion additional expenditure on imports resulting from the earnings of those benefiting from tourism.
20. Balance of payments International tourists are buying tourist services in another country, and these payments are noted in a country’s accounts as ‘invisibles’ The money spent by an American visitor to Britain is credited to Britain’s balance of payments, becoming an invisible receipt for Britain, while it is debited as a payment against the American balance of payments The total value of receipts minus the total payments made during the year represents a country’s balance of payments on the tourism account
21. It is always beneficial to have a large number of inbound tourists rather having bigger number of outbound travelers. Countries like Germany and Japan are struggling to increase inbound tourism as these were the countries producing a large number of tourists traveling to different countries. Italy and Spain are the examples of having a high number of tourists coming to their country hence high balance of payments. Balance of payments
22. Conclusion Tourism has a great potential in generating employment (direct and indirect) Lesser the leakages from the economy greater is multiplier effect of the expenditure made in the local economy. TIM is very low for the developing countries as compared to the developed nations because of their dependency on imports of tourism products from outside. It is economically beneficial for a nation to have greater number of inbound travelers as compared to outbound.