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The Economic Impact On Global Tourism

Author

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  • SOFRONOV, Bogdan

    (University Politehnica of Bucharest)

Abstract

Tourism is an important economic activity in most countries around the world. As well as its direct economic impact, the industry has significant indirect and induced impacts. The outlook for the tourism sector in 2017 remains robust and will continue to be at the forefront of wealth and employment creation in the global economy, despite the emergence of a number of challenging headwinds. In tourism, GDP growth is expected to accelerate to 3.8%, up from 3.1% in 2016. As nations seem to be looking increasingly inward, putting in place barriers to trade and movement of people, the role of tourism becomes even more significant, as an engine of economic development and as a vehicle for sharing cultures, creating peace, and building mutual understanding.

Suggested Citation

  • SOFRONOV, Bogdan, 2017. "The Economic Impact On Global Tourism," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 17(2), pages 127-139.
    • Handle: RePEc:ris:sphecs:0261
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    File URL: http://anale.spiruharet.ro/index.php/economics/article/view/1728/pdf
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    Citations

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    Cited by:

    1. Theodora Karanisa & Alexandre Amato & Renee Richer & Sara Abdul Majid & Cynthia Skelhorn & Sami Sayadi, 2021. "Agricultural Production in Qatar’s Hot Arid Climate," Sustainability, MDPI, vol. 13(7), pages 1-25, April.
    2. S. Nyasha & N.M. Odhiambo, 2021. "Determinants of Tourism Development: Empirical Evidence from Three Developing Countries," Working Papers AESRI-2021-19, African Economic and Social Research Institute (AESRI), revised Jan 2021.
    3. Nyasha, Sheilla & Odhiambo, Nicholas M., 2021. "Determinants of Tourism Development: Empirical Evidence from Three Developing Countries," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 74(3), pages 335-368.
    4. Nyasha, Sheilla & Odhiambo, Nicholas M., 2021. "Determinants of Tourism Development: Empirical Evidence from Three Developing Countries," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 74(3), pages 335-368.
    5. Yasir Jehan & Muzian Batool & Naveed Hayat & Dostdar Hussain, 2023. "Socio-Economic and Environmental Impacts of Tourism on Local Community in Gilgit Baltistan, Pakistan: a Local Community Prospective," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(1), pages 180-199, March.
    6. Sheilla Nyasha & Nicholas M. Odhiambo & Simplice A. Asongu, 2021. "The Impact of Tourism Development on Economic Growth in Sub-Saharan Africa," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 33(6), pages 1514-1535, December.
    7. Syafruddin Syafruddin, 2021. "Potential and Contribution of MICE Service Business Development in South Sulawesi," Technium Sustainability, Technium Science, vol. 1(2), pages 59-74, July.
    8. Rafał Kaźmierczak & Agnieszka Szczepańska & Cezary Kowalczyk & Grzegorz Grunwald & Artur Janowski, 2021. "Using AR Technology in Tourism Based on the Example of Maritime Educational Trips—A Conceptual Model," Sustainability, MDPI, vol. 13(13), pages 1-22, June.

    More about this item

    Keywords

    economic impact; tourism; global tourism; travel; tourism economics;
    All these keywords.

    JEL classification:

    • Z30 - Other Special Topics - - Tourism Economics - - - General

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