How Beneficial is Travel and Tourism to an Economy?
Tourism lies at the heart of many economies in the world today. According to the World Trade Organization (UNWTO), this sector is a powerful driving force for the growth and development of an economy. From creating part-time and full-time jobs to developing a country’s infrastructure, travel and tourism is inarguably the largest sector of most economies. Apart from providing revenue to the government, highlighted below are other ways that travel and tourism benefits an economy.
Positively Impacts other Sectors of an Economy
Tourism creates demand for other sectors of an economy. Sectors like local travel, entertainment, hospitality, accommodation and food and shopping thrive more when tourism is at its peak. These sectors work in concert with tourism to ensure the tourist’s experience is memorable and enjoyable. The increased demand for local services brings value and helps grow a country’s economy.
Creates a Demand for the Casino Industry
The casino industry is another sector that thrives on tourism. Research suggests that people enjoy gambling more when on holiday than during other times. It could be due to many reasons, though the main one is the thrill and excitement of being in an actual foreign casino.
Online casino doesn’t necessarily require you to travel, but it’s still more fun on holiday. Some sites like https://www.pika-kasinot.co enable you to play quick casino online without having to create an account. If one of your hobbies when on vacation is playing online casinos, you wouldn’t want to be bogged down by the lengthy registration process. With quick casino, you don’t have to give your personal information. You just need to provide your bank ID, make a deposit then proceed to play.
Promotes Small Business Growth
Tourism brings revenue for small and local businesses, which increases their incomes and allows them to grow. When tourists visit a country, most may want to partake in the cultural and leisure activities upheld in the country. They may want to shop, buy souvenirs, dine in local restaurants, travel, and visit the beauties that the country offers. By engaging in these activities, the tourists directly or indirectly promote local businesses, thus motivating more citizens to start their own.
Creates an Urge for Development
Tourism creates an urge for the growth and development of an economy. In order to attract and sustain tourism, a country needs to develop its infrastructure, improve its resources and guarantee health and safety for both tourists and citizens. The desire to bring in more tourists is what drives the country to improve its infrastructure and resources.
To Sum Up
Tourism has the potential to drive the growth and development of an economy. At face value, this sector creates jobs, provides revenue for governments and improves a country’s image. Other benefits that tourism brings to an economy include creating demand for other sectors of an economy, promoting entrepreneurship and small business growth and creating an urge for growth and development. These benefits are perhaps why many countries hold tourism in high regard.
Japan closes borders, bans all foreigners from entering the country
Japanese authorities announced today that the country’s borders will be closed to all foreign visitors from December 28 until the end of January, after a new strain of COVID-19 virus was found in foreign nationals who had traveled from the UK. The announced measures are the harshest restrictions yet instituted in response to the new virus threat.
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Star Air flies nonstop to Surat from Belagavi and Ajmer
Star Air, after running successful operations in Ahmedabad, has now expanded its wings further, by launching its services to one more city of Gujarat. This airline vertical of prominent Indian business conglomerate – Sanjay Ghodawat Group recently commenced its operations in the Silk City of India i.e. Surat from 21st December 2020.
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Montenegro kills its National Airline to Start a New one
The Montenegro Minister of Capital Investment in the newly elected Government announced yesterday, on Christmas Eve, that the Government will not grant any more state aid to the national airline Montenegro Airlines.
The decision equals a death verdict for the airline, as it’s the only chance of survival was the 2019 Law on Investment into Consolidation and Development of the Company for Air Transport of Passengers and Goods “Montenegro Airlines”
According to a report in Serbia based BDK media, on 3 September 2020, the Montenegrin Agency for Protection of Competition issued a decision to open a formal investigation procedure into the compatibility with the state aid rules of the state aid granted by virtue of Lex MA.
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The new Bhutan – Israel relationship
The tiny South Asian nation only has diplomatic relations with a small number of countries and measures its success based on a national happiness index
Israel on Saturday announced that it had established diplomatic relations with Bhutan, the fifth country to do so in recent months alongside United Arab Emirates, Bahrain, Sudan and Morocco.
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Can a multi-cultural industry such as tourism be inclusive?
In William Shakespeare’s play Romeo and Juliet the playwright places into the mouth of hisleading character, Juliet, the declarative or r hetorical question: “What’s in a name? That which we call a rose by any other name would smell as sweet.” Shakespeare’s point is that the name matters less than the action described; what something is called is less important than what it does.
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The virus that shut down the world
Over the past 12 months, COVID-19 has deepened those inequalities, a view highlighted in February, by the UN’s labour-focused agency, ILO, which declared that the two billion people working in the informal sector were particularly exposed.
In March, the agency followed up with projections which suggested that millions could be pushed into unemployment, underemployment, or the grinding condition of working poverty.
“This is no longer only a global health crisis, it is also a major labour market and economic crisis that is having a huge impact on people”, said ILO Director-General Guy Ryder.
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Domestic tourism in Kilimanjaro takes shape this Christmas
Setting the agenda for domestic and regional tourism in East Africa, Christmas and New Year trips in Northern Tanzania and parts of Kenya have been planned with good experience for future development. Tens of thousands of people from different parts of East Africa, Africa, and rest of the world are celebrating Christmas and New Year […]
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Sandals Resorts Announces Expansion to Curaçao
Sandals Resorts International (SRI), the world’s leading all-inclusive company, announced today the signing of an agreement that will bring Sandals® Resorts to a brand-new destination, at the Santa Barbara Resort on the island of Curaçao. This will mark the ninth island destination for the brand in the Caribbean region. The new Sandals Curaçao will initially include 350-luxurious rooms and […]
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Seychelles authorities take steps to address new COVID-19 variant
Following this week’s Safe Tourism Task Force meeting led by the Seychelles Minister for Foreign Affairs and Tourism, Mr. Sylvestre Radegonde, the Public Health Authority has proposed new measures for the destination. As of Monday, December 28, 2020, the United Kingdom will no longer feature on the list of countries from which visitors may travel […]
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