[Impacts of Tourism Growth in Thailand and its Sustainability]
* Executive Summary
Tourism growth has a great impact on the economy of any state; where on one hand it helps the economy to grow, on the other hand it creates socio-economic, environmental and cultural challenges which produce negative impacts on the overall economic development and sustainability of the country. First of all we will provide the introduction to the topic and will make the critical literature review which will include the work which has been already published by the researchers and scholars. Then we will be discussing the positive impacts which have been seen in the economy of Thailand due to the growth of tourism; and as well as the negative impacts which are crucial to be handled well for the sustainability of its economic growth. And in the end we will conclude our topic with the concluding remarks and will provide some important recommendations for Thailand at governmental, corporate and individual level in order to manage the tourism growth and handling the socio-economic, environmental and cultural issues arising due to the challenges of tourism in order to achieve growth in the economy as well as sustainability in its economic growth through increased standard of living and overall economic development of the country.
Table of Contents
3.1.1Contribution to GDP7
3.1.2Contribution to Employment9
3.1.3Contribution to Visitor Exports:10
3.1.4Contribution to Capital Investment11
This report is intended for creating understanding about the Impacts of Tourism Growth in Thailand and its sustainability. Tourism plays an important role in the economic development of a country [ (Ashley et al., 2007) ] and for the country like Thailand its role in the economy is even crucial as it is one of those countries where tourism is popular and it contribute great to its economy and plays an important role in the related businesses, its employment, governmental policies and national standards [ (Chumni, 2001) ]. But it is very important to know that if on one side tourism helps in the growth of the economy on the other hand it also creates number of socio-economic challenges for the state and in order to make efficient decisions the government needs to understand the factors which influence the demand for tourism in the country [ (Vanegas & Croes, 2000) ], so there is a strong need for understanding the issues like the impacts of tourism growth in Thailand and its sustainability for policy making in public as well as private sector, in Thailand. Literature Review
Tourism consists of the activities which are related to the travelling of a person or persons to a place other than the environment in which they usually live for more than 24 hours and the purpose for their visit could be for the sake of leisure [ (Cooper et al., 2009) ] which may include holiday, recreation, or for business or meeting [ (UNO, 1996) ]. Tourism has a great impact on the economy of the country as well as on its overall environment and culture [ (Wall & Mathieson, 2006) ] and it is one of the most important factors for any country’s economic development (WTO, 2000), which means increase in the standard of living in the country with increased and sustained GDP, per capita income, employment opportunities, business and investment [ (Todaro & Smith, 2008) ]. The following tables will help in understanding the key impact of tourism growth on the economy of Thailand by the help statistical figures of key indicators of the economy for the last decade [ (WTTC, 2011) ]:
Table [ 1 ]: Contribution of Tourism in the Economy of Thailand Source: [ (WTTC, 2011) ]
Table [ 2 ]: Contribution of Tourism in...