Question

In: Economics

discuss factors that affect tourism’s contribution to GDP?

discuss factors that affect tourism’s contribution to GDP?

Solutions

Expert Solution

The Tourism is considered as a development factor in a country. The tourism sector of a country increases the economic growth and therefore it lead to the development of the country. When we consider the ​​​​​​GDP for the measurement of development and the role of tourism, the international arrivals in tourism come bigger than the GDP. The growth in GDP will positively related to the growth in tourism. The type of goods that tourists demands such as accomodation, food, transport, entertainment, etc in tourism having great impact on economy. For the tourist's satisfaction the tourism-connected industries produces there good and services, which lead to increase production in this industries and then income for the supply industries rises. Increase in the production positively influence the government revenue in the means of taxes and government interventions increases. The government interventions contribute in economic growth in large extent.


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