UNWTO Tourism Highlights

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Ng, Jocelyn 11279699
HMTREND/HMB31 January 27, 2015
The tourism industry creates important economic benefits to both host countries and tourists' home countries. Especially in developing countries, one of the reason for a region to promote itself as a tourism destination is the expected economic improvement. The economic importance of tourism to a destination is commonly underappreciated and extends well beyond core hospitality and transportation sectors. It benefits the tourism supply chain and the economic gains through the spending of tourism wages. It also provides a tourism-generated sales, production, employment, wages, and taxes. Tourism creates jobs, both through direct employment within the tourism industry and indirectly in sectors such as retail and transportation. When these people spend their wages on goods and services, it leads to what is known as the "multiplier effect," creating more jobs. The tourism industry also provides opportunities for small-scale business venture, which can be for the benefit of provincial areas, and can add up extra tax revenues which can be used for government projects such as building schools, hospitals and housing project. GDP which came from tourism receipts is the biggest and widest showing the economic contribution of tourism. There is a growing agreements on the importance of tourism as a major sector for economic growth as it provides an important contribution to the economic well-being of the people of that country, contributes in achieving economic objectives of governments and to create a more innovative economy Europe on the top position for earning the largest share of international tourism receipts because it contains a wide variety of products and destinations involving many different historical landmarks and structures. The demand of tourist inspired the development of many new cultural attractions and cultural tourism marketing strategies. Tourists take part of all visitor...