STHM 1311 Lecture Notes - Lecture 1: Transfer Pricing
6 Apr 2016
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Document Summary
The role of tourism in economic development. The increasing fascination with tourism worldwide in the past 50 years has been motivated largely by its potential economic benefits for communities of all sizes. Tourism is one of several alternative development options available to a destination area to promote economic growth and diversification. Tourism is a powerful economic force providing employment, foreign exchange earnings, tax revenue, etc. The economic impact of tourism spending is a function of the number of domestic and international visitors and their expenditures. Tourism as a new economic generator can replace declining activity in agriculture and manufacturing. Can play a role in both developed countries and developing countries. Enclave tourism (ie. entire stay at the same cruise ship or resort) Economic dependence of the local community on tourism. Leakage-the value of goods and services that must be imported to serve the needs of tourism.
