The Influence of Tourism in Least Developed Countries’ Economy in the Past Decade
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Economics in Tourism
The Influence of Tourism in Least Developed Countries’ Economy in the Past Decade
Today, tourism has become the most beneficial tendency, which has a considerable effect on the economy of countries. As Boz (2011) states, ‘tourism is one of the fast-growing industries … reliable indicator of economic growth’ (p198). For the majority of the Least Developed Countries in the world, tourism provides an irreplaceable profit stream, which leads to both development of the countries and gains them significant revenues, specifically, host countries improve their environment, which in turn increases tourism industry. Moreover, as a result of tourism, not only do the host countries benefit, but also tourists’ own country, as it leads to exchange profit. Consequently, the Least Developed Countries depend on this industry, in particular tourism; countries develop their income, environment and external economic grade.
It must be acknowledged that the Least Developed Countries have been developing their financial cash funds largely due to tourism; this is because tourism supports and directly contributes to an active economy and country. Moreover, tourism provides not only entertainment to visitors, but also improves some main profitable local spheres, such as job creation and local businesses, which are vital in becoming a developed country. Logically, to expediently serve visitors, which may be growing at an exponential rate, countries naturally need to create new openings and roles, to ensure that the service received is consistently high. Furthermore, as Holloway and Humphreys state (2012) ‘If tourists stay at a destination, jobs are directly created by the tourism industry there’, which means that as a direct result of tourism, countries enlarge their destinations. As a result of this, new resting areas are built to ensure these places have all of the necessary furniture and for other stuff, countries need to hire more employees...
The Influence of Tourism in Least Developed Countries’ Economy in the Past Decade
Today, tourism has become the most beneficial tendency, which has a considerable effect on the economy of countries. As Boz (2011) states, ‘tourism is one of the fast-growing industries … reliable indicator of economic growth’ (p198). For the majority of the Least Developed Countries in the world, tourism provides an irreplaceable profit stream, which leads to both development of the countries and gains them significant revenues, specifically, host countries improve their environment, which in turn increases tourism industry. Moreover, as a result of tourism, not only do the host countries benefit, but also tourists’ own country, as it leads to exchange profit. Consequently, the Least Developed Countries depend on this industry, in particular tourism; countries develop their income, environment and external economic grade.
It must be acknowledged that the Least Developed Countries have been developing their financial cash funds largely due to tourism; this is because tourism supports and directly contributes to an active economy and country. Moreover, tourism provides not only entertainment to visitors, but also improves some main profitable local spheres, such as job creation and local businesses, which are vital in becoming a developed country. Logically, to expediently serve visitors, which may be growing at an exponential rate, countries naturally need to create new openings and roles, to ensure that the service received is consistently high. Furthermore, as Holloway and Humphreys state (2012) ‘If tourists stay at a destination, jobs are directly created by the tourism industry there’, which means that as a direct result of tourism, countries enlarge their destinations. As a result of this, new resting areas are built to ensure these places have all of the necessary furniture and for other stuff, countries need to hire more employees...