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The Impact of Tourism Industry in the Economy. The Case of the Black Sea Region Countries

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  • Daniel Bulin
  • Nela Miru
  • Georgica Gheorghe

Abstract

The Black Sea region is an area of high importance, both geopolitically and economically. In terms of socio-human and tourism resources, the region is characterized by a high degree of heterogenity; this generates a special interest for tourists around the world. If on the social and environmental dimensions of development tourism activity effects are both positive and negative, the tourism and travel industry bring indisputable benefits to the economy. Based on this premise, this paper proposes to evaluate the impact of tourism in the economy of the Black Sea region. The importance of tourism in the economy is given by the share of tourism in GDP and employment, and also by the multiplier effect of tourism and industry efficiency. Calculating the Tourism Multiplier Coefficient for the 12 countries in the region, and making the ratio of the share of industry in GDP and the share of industry in employment has been determined in comparison, the degree that the tourism industry is a key sector in the economy.

Suggested Citation

  • Daniel Bulin & Nela Miru & Georgica Gheorghe, 2014. "The Impact of Tourism Industry in the Economy. The Case of the Black Sea Region Countries," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(2), pages 74-79, June.
    • Handle: RePEc:khe:journl:v:6:y:2014:i:2:p:74-79
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    References listed on IDEAS

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    1. Nishaal Gooroochurn & Guntur Sugiyarto, 2005. "Competitiveness Indicators in the Travel and Tourism Industry," Tourism Economics, , vol. 11(1), pages 25-43, March.
    2. Bichaka Fayissa & Christian Nsiah & Badassa Tadasse, 2008. "Impact of Tourism on Economic Growth and Development in Africa," Tourism Economics, , vol. 14(4), pages 807-818, December.
    3. Stanislav Ivanov & Craig Webster, 2007. "Measuring the Impact of Tourism on Economic Growth," Tourism Economics, , vol. 13(3), pages 379-388, September.
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    Cited by:

    1. Nur Feriyanto, 2014. "Determinant of gross regional domestic product (GRDP) in Yogyakarta special province," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 6(2), pages 131-140, April.
    2. Meng-Chang Jong & Ann-Ni Soh & Chin-Hong Puah, 2022. "Tourism Sustainability: Climate Change and Carbon Dioxide Emissions in South Africa," International Journal of Energy Economics and Policy, Econjournals, vol. 12(6), pages 412-417, November.

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    More about this item

    Keywords

    Tourism; economic impact; tourism multiplier coefficient; GDP; employment;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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