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An Overview On Tourism'S Contribution To Gdp

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  • CRISTIAN Mihai Gabriel

    (Lucian Blaga University of Sibiu)

Abstract

Tourism has been developed into the fourth industry in sense of contribution to GDP worldwide. This paper analyses the role of tourism industry to gross domestic product (GDP) of some European countries like as Germany, Italy, France, Spain and Romania, but also countries like USA, China, Japan, Great Britain, Mexico. The objective of this research was to determine the top five tourism markets in 2019 according to annual report of the World Travel and Tourism Council (WTTC, 2020). Romania's tourism industry had a direct role of 3.16 billion USD to the Gross Domestic Product (GDP) in 2018, a little more higher than in 2017, placing Romania on the 64th place in the world. The analysis the World Tourism and Travel Council (WTTC, 2020) estimates an economic impact of the COVID-19 epidemic on tourism and travel 5 times greater than that of the global financial crisis.

Suggested Citation

  • CRISTIAN Mihai Gabriel, 2020. "An Overview On Tourism'S Contribution To Gdp," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 72(2), pages 19-26, July.
    • Handle: RePEc:blg:reveco:v:72:y:2020:i:2:p:19-26
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    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/72202cristian.pdf
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    References listed on IDEAS

    as
    1. Nikolaos Dritsakis, 2012. "Tourism Development and Economic Growth in Seven Mediterranean Countries: A Panel Data Approach," Tourism Economics, , vol. 18(4), pages 801-816, August.
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    More about this item

    Keywords

    GDP; Tourism Industry; WTTC; TLEG;
    All these keywords.

    JEL classification:

    • Z31 - Other Special Topics - - Tourism Economics - - - Industry Studies
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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