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Tourism And Its Significance To The Economy - Education - Nairaland

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Tourism And Its Significance To The Economy by gomtas: 2:18pm On Oct 02, 2018
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. Tourism may be international, or within the traveller's country. The World Tourism Organization defines tourism more generally, in terms which go "beyond the common perception of tourism as being limited to holiday activity only", as people "traveling to and staying in places outside their usual environment for not more than one consecutive year for leisure and not less than 24 hours, business and other purposes".

Today, tourism is a major source of income for many countries, and affects the economy of both the source and host countries, in some cases being of vital importance. In this regard, researchers most especially final year students of economics frequently dedicate some pages of their undergraduate research thesis in underscoring the significance of tourism to the economy.

Significance of the Tourism

Employment : Employment, and both its availability and exclusivity, are subsets of economic impacts of tourism. Travel and tourism create 10.7 percent of the total available jobs worldwide, in both the direct and indirect tourism sectors. Direct tourism jobs, those that provide the visitor with their tourism experience include, but are not limited to: accommodation (building, cleaning, managing), food and drink services, entertainment, manufacturing, and shopping Indirect tourism employment opportunities include the manufacturing of aircraft, boats, and other transportation, as well as the construction of additional superstructure and infrastructure necessary to accommodate these travel products (airports, harbours, etc.)

Enhances Economy : Also, tourism helps enhance the economy of the region, and creates revenue for the local government. In addition, tourists also use public services, creating funding for public services, such as health, the police and the fire department, as well as increasing the demand for public transport.

Moreover, tourism helps to generates foreign exchange, stimulates trade, income and entrepreneurship especially in small business sectors, increases regional development particularly in isolated areas, generates greater collection of taxes and revenues.

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