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The Impact of the International Tourism Receipts on GDP: The Case of Republic of Macedonia

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  • Sashko Gramatnikovski
  • Ace Milenkovski
  • Daliborka Blazheska

Abstract

In the past few decades’ tourism has played a major role in the EU and global economies. By the estimates of UNWTO tourism is accounted for 9% of the world economy’s GDP, and it’s considered the third largest socio-economic sector after the period of the financial crisis. More so tourism’s impact on the economic and social development of a country can be enormous; opening it up for business, trade and capital investment, creating jobs and entrepreneurialism for the workforce and protecting heritage and cultural values. However, measuring the exact impact of the tourism and tourism related activities on the GDP poses a serious challenge. Even though the impact of the tourism on the GDP is highly recognized the correct measurements of his impact differ from country to country depending of their national practices and their legal framework. Also, the impact of tourism is widely spread and besides the direct impact on the GDP and, tourism also contributes with indirect impact to a variety of other socio economic categories, which makes it more difficult to estimate the total impact.

Suggested Citation

  • Sashko Gramatnikovski & Ace Milenkovski & Daliborka Blazheska, 2016. "The Impact of the International Tourism Receipts on GDP: The Case of Republic of Macedonia," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 6(4), pages 220-225, October.
    • Handle: RePEc:hur:ijaraf:v:6:y:2016:i:4:p:220-225
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    References listed on IDEAS

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    2. Anca-Adriana Cristea, 2012. "History, Tradition and Continuity in Tourism Development in the European Area," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(Special 1), pages 178-186, May.
    3. Jarvis, Diane & Stoeckl, Natalie & Liu, Hong-Bo, 2016. "The impact of economic, social and environmental factors on trip satisfaction and the likelihood of visitors returning," Tourism Management, Elsevier, vol. 52(C), pages 1-18.
    4. Okan Veli Safakli & Kaan Kutlay, 2016. "Potential Multiplier Effect of Tourism Sector in Northern Cyprus," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 6(4), pages 44-51, October.
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    1. Naqib Ullah Khan & Wajid Alim & Abida Begum & Heesup Han & Abdullah Mohamed, 2022. "Examining Factors That Influence the International Tourism in Pakistan and Its Nexus with Economic Growth: Evidence from ARDL Approach," Sustainability, MDPI, vol. 14(15), pages 1-15, August.

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