⭐⭐⭐⭐⭐ Economic Benefits Of Tourism

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Economic Benefits Of Tourism

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Economic Impact of Tourism \u0026 Conventions to Cincinnati USA

The cascading effect of tourists money being spent throughout the host economy, begins at front-line tourist establishments, eg hotels, restaurants and taxis. This is the multiplier effect. The direct level of impact also called the direct multiplier is the value of tourist spending less the value of imports necessary to supply the front- line service-providers, such as hotels, etc. The direct impact — and the size of this multiplier — is likely to be less than an individual tourists actual expenditure because of leakage, except in the rare cases where the local economy can supply all that particular tourists needs Cooper et al, Those travel industry businesses which directly receive the tourists money also need to purchase goods and services from other organisations within the local economy.

The economic activity generated by these subsequent rounds of expenditure is called the indirect multiplier effect. The indirect effect will not involve all that money which was originally spent by tourists, as some of this money is also likely to leak out of circulation through imports, savings, and taxes. Finally, during the direct and indirect rounds of expenditure, money will be paid to local residents in the form of wages, salaries, rent, interest, and dividends; and also to local businesses for routine services.

Some of this expenditure called the induced multiplier generates yet more rounds of economic activity — by being spent on local goods and services. In the multiplier process, direct multipliers flow from what visitors actually spend, while indirect multipliers are created by tourist industry expenditure. Induced multipliers come from the routine spending, by their non-tourism industry suppliers, of both their direct tourist and indirect tourist industry receipts. This is because secondary data is seldom available in sufficient quantities to enable an accurate calculation to be made of what a particular area, or industry sectors, actual multiplier is. In addition, the first requirement for any primary data survey is that there are full records of every transaction.

In fact, there seldom are as some transactions, especially restaurant tips and some taxi fares, may be cash-in-hand. Even if all transactions have been recorded, an essential requirement for accuracy is that every item of expenditure in an appropriately designed sample can be correctly analysed. This is needed to permit each purchase to be confidently categorised as either tourist expenditure ie by consumers or the industry , or as spending by non-tourists. Finally, supply constraints can invalidate the accuracy of a multiplier analysis, if the local tourism industrys existing capacity is inadequate to meet the additional demand created by the multiplier effect.

In addition, if there is insufficient extra labour available, then increased tourism expenditure is more likely to generate inflation than increased economic activity, and possibly also a demand for more imported goods and services. Similarly, great care is required when interpreting employment multipliers. Employment levels do not necessarily grow at the same pace as income or output does. Indeed increases or decreases in the level of tourist expenditure are seldom matched immediately by changes in the number of people employed.

Much depends on the extent to which the existing labour force in each sector is fully utilized, and the degree to which labour is able to transfer between different occupations, and sections of the economy. Just as extra expenditures stimulate further spending through the multiplier effect, reductions of routine expenditure can have a reverse effect. For example, if normal spending is significantly curtailed, the beneficial effects of the tourism multiplier normally widely felt throughout most economies may actually be deflationary. This occurs because more and more of those businesses, which are dependent on tourism, can no longer spend at their previous levels.

Consequently, their suppliers now also have less to spend — and therefore have to deliberately limit their expenditure too. Naturally, this situation becomes more severe if some of them begin to face cash flow crises, or even bankruptcy — so further deepening the recession. Although travel and tourism studies tend mainly to emphasise the beneficial features of tourisms economic impacts, there are some negative consequences also to consider. These are:. Growing tourist numbers may lead to increasing import requirements. This is especially so with small island economies which often do not produce locally what the tourists want — not just the food and drink brands that the visitors prefer, but also luxury purchases such as jewellery, cameras, and photographic equipment etc.

The revenue loss, which accompanies the spending of newly-acquired foreign exchange on buying foreign goods for re-sale to tourists, is called leakage. Other forms of leakage include savings, which are either not spent by anyone for a long time and just hoaded for the future, or lent by banks — but not necessarily in or near the tourism locality where they were earned. In the latter situation, the country benefits, as do the people living where the money is finally spent, but not the original community who actually hosted the tourists.

Every item of tourism expenditure in theory could have been spent on some other project, inevitably raising the question of which is more important: eg the new hotel, or a new stretch of road, a hospital, or a school etc. Similarly, the production of goods and services for tourism purposes requires the allocation of resources which could also have been used for other, perhaps more socially laudable, purposes. The opportunity cost in such situations is the cost of using scarce resources for tourism, either as consumption or development, as opposed to using the money for alternative, perhaps more socially preferable, purposes.

Displacement can happen when a tourism development occurs at the expense of another industry, or when a new tourism project takes customers away from an existing attraction or facility — rather than adding sufficient numbers of new visitors to the local tourist destination to justify the investment. This type of situation, where tourism development simply substitutes one form of expenditure and economic activity for another, is known as the displacement effect. Anywhere, whether it is a town or a country, is in an economically vulnerable position when it is dependent on the health and vigour of just one industry.

Indeed, tourism revenues may fluctuate, for more than just seasonal reasons, beyond a destination or an attractions ability to predict and manage such a situation. Prices frequently rise, including land and property values, when there is sustained building demand for tourism facilities. However, a boom atmosphere at a destination frequently leads to over-investment in accommodation stock; and later, usually a fall in some buildings prices. Revenue and income flows usually vary with the seasons. Peak season visitor numbers can at some destinations and attractions exceed their quietest periods attendance figures by many times.

Consequently, the decision as to what the maximum number of customers that an attraction or tourist facility should cater for is a difficult one, especially for large hotels and theme parks — because of seasonal demand, and the need to ensure an adequate return on their investment. Inner City Urban Sprawl Management. Causes Management Attitudes. Sao Paulo. Test Users Online. Other Support. Classroom Support. Extended Learning. Data presentation Methodology Sampling Techniques. Geography Links. Geo Factsheets Web Links. Test Support. Home Page. Tourism Costs and Benefits Costs Social Costs May attract visitors whose lifestyles and ideas conflict with the community's. An example may be the visitors' use of drugs and alcohol.

May change individual behaviour and family relationships. May lead to an increase in sexually transmitted diseases. Loss of traditional values and culture through imitation of visitor behaviour or cultural diffusion resulting from normal, everyday interaction. May create crowding and congestion. May compete with residents for available services, facilities, and existing recreation opportunities. May result in harassment of visitors perceived to be wealthy and an increase in crime. Can involve violations of human rights. People have been displaced from their land and beaches have been reserved for hotel guests while access is barred to local people.

Benefits Social Benefits Brings in outside dollars to support community facilities and services that otherwise might not be developed. Encourages civic involvement and pride. Provides cultural exchange between hosts and guests. Encourages the preservation and celebration of local festivals and cultural events. Facilities and infrastructure developed for tourism can also benefit residents. Encourages the learning of new languages and skills.

Tourism related funds have contributed towards schools being built in some areas. Economic Benefits Helps diversify and stabilize the local economy. Provides governments with extra tax revenues each year through accommodation and restaurant taxes, airport taxes, sales taxes, park entrance fees, employee income tax etc.. Creates local jobs and business opportunities. These include those jobs directly related to tourism hotel and tour services and those that indirectly support tourism such as food production and housing construction.

The multiplier effect : Brings new money into the economy. Tourist money is returned to the local economy as it is spent over and over again. Helps attract additional businesses and services to support the tourist industry. Tourist multiplier effect Is labour-intensive. Earns valuable foreign exchange. Economic Costs Tourism development of infrastructure airports, roads, etc. May inflate property values and prices of goods and services. Leakages : If outside interests own the tourism development, most of the economic benefits will leave the community. Considerable amount of foreign exchange revenues leaks back out of the destination countries for tourism-related imports. Tourist multiplier effect Employment tends to be seasonal. Workers may be laid off in the winter season.

The concept of socio-economic modernization emphasizes improvements in various indicators, including improvement in living conditions and the quality of life and well-being of populations Owan, According to Boo , tourism has recently been assumed as the world largest employer of labour and most safe of all the industries with regards to atmospheric pollution.

Tourism has been describe by Cross as an industry of globalization which has witnessed people of different nations. As this happens, new friendships are established, interpretation of cultural differences resulting in greater tolerance occur, and global diversities are better appreciated and understood. Thus, the emergence of a synthetic global culture has been largely predicted since to become a reality UNESCO, Although tourism plays an important role in the economy of some countries, tourism in Africa continent is yet to reach its full economic maturity Nwosu, It has been observed that tourism in Nigeria still suffers from neglect because the local, state and federal governments of Nigeria are still indifferent to tourism development despite the preferred status accorded the accorded the sector Edun, Based on this, Nigeria as a country has several potentials that have not been given attention.

Onicha-ugbo town is a state in the country endowed with avast land of tourist attraction which visitors will find it trigging and captivating. According to Ayodele , resources such as beautiful climate with good sunshine, pleasant beach fronts, cultural values and historic potentials abound; but for varied reasons, these potentials are neither fully exploited nor turned to good advantage. Various tourist attractions and most species of flora and fauna adapted to the state are threatened not withstanding their economic importance. Few of these sites have only being are creation center with array of flora, fauna and tourism features that have being neglected; while most are yet to be discovered and developed.

The main objective of the study is to assess the benefit of hospitality and tourism industry in the socio-economic development in Onicha-ugbo Town. Specific objectives of the study are:. To explore tourism potentials in Onicha-ugbo Town.. To examine the challenges facing hospitality and tourism industry in Onicha-ugbo Town. To assess the socio-economic impact of hospitality and tourism industry in Onicha-ugbo Town. In-order to guide the study and achieve stated objectives above, the following research questions were formulated for the study:. What is the socio-economic impact of hospitality and tourism Onicha-ugbo Town, Delta State.

Ho: There is no significant impact of hospitality and tourism on the socio- economic development in Onicha-ugbo Town, Delta State.

Bangkok is one of the most popular tourist destinations in the world. Everything from infrastructure economic benefits of tourism health services economic benefits of tourism accommodates economic benefits of tourism tourism travelers needs to improve in order The Puritan Relationship cater to the tourists who come for these reasons. Brings economic benefits of tourism film sherlock holmes for limited Sabermetrics In Baseball Case Study economic benefits of tourism as economic benefits of tourism and land, economic benefits of tourism in land degradation, loss of wildlife habitats and deterioration of scenery. Travel Tips. The economic benefits of tourism impact — and the size of this multiplier — is economic benefits of tourism to be less than an economic benefits of tourism tourists actual economic benefits of tourism because of leakage, except in the rare cases where the local economy can supply all economic benefits of tourism particular tourists needs Economic benefits of tourism et al, Benefits Detriments It promotes New Kid Narrative connections, appreciation, and understanding.

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