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Details for Selected Issues of T&T Competitiveness
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NameSelected Issues of T&T Competitiveness
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Travel & Tourism (T&T) is a critical source of economic growth and development in many countries around the world, rendering the measurement of its competitiveness an important undertaking. Over the past several decades, Travel & Tourism has become a key sector in the world economy. In 1950, international tourism receipts totaled a mere US$2.1 billion; by 2004 this had grown to an impressive US$622.7 billion.1 Tourism has become an extremely important employment and revenue generator internationally, providing jobs directly through the tourism industry itself (for example, hotels, visitor attractions, restaurants, tourist transport, and so on) and indirectly through the supply of many goods and services that are inputs to the tourism industry.2 In addition, there are many local revenue-generating activities that are not formally registered in the national accounts (for example, informal employment such as street vendors and informal guides).This indirect tourism revenue has been estimated to have a magnitude equal to that of direct tourism expenditures

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Created On: 12/13/2010 16:21
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