Tourism Component

Topics: Tourism, Economics, Economy Pages: 2 (468 words) Published: April 28, 2013
he main purpose of this report is to show the impor
tance and the role of the indirect economic
effects of tourism on growth and GDP, employment an
d foreign trade.
Tourism's role in the economy is often perceived as
being limited to the hospitality industry
(cafes, hotels and restaurants) and outbound and in
bound travel agencies and carriers, which form
the leading service sector in many countries. Howev
er, the economic impact of tourism is much
greater, since many inputs are needed in order to p
roduce tourism and leisure services, spanning
the whole range of farm, agrifood and industrial pr
oduction, including the production of capital goods
as well as construction and public works.
Highlighting these indirect impacts of tourism is r
egarded as a priority by the T20 countries
and the World Tourism Organization (UNWTO), which h
as produced methodological tools such as
Tourism Satellite Accounts (TSAs). Assessing the ec
onomic impacts of tourism helps to inform the
conduct of stimulus policies in response to interna
tional economic and financial crises. It shows that
tourism can become a driver of recovery, fostering
stable and sustainable economic growth,
provided that sectoral support policies are impleme
nted taking the central role of tourism into
The first part looks at currently available method
ological resources
for measuring the
indirect impacts of tourism on the economy. It high
lights the central role of calculations based on
Tourism Satellite Accounts and shows how multiplier
-based analysis can give an overall evaluation
of the economic impact of tourism, distinguishing b
etween direct, indirect and induced effects.
The second part considers how the indirect economi
c impacts of tourism affect
output (GDP), employment and certain sectors
. It shows that tourism is an essential contributor
to GDP and job creation in all the T20 countries. I
n particular, it illustrates the sectoral impact of...
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