NRRT 1100E Lecture Notes - Lecture 13: Investment, National Accounts, World Trade Organization

• School: University of Georgia
• Department: Natural Resource Recreation and Tourism
• Course: NRRT 1100E
• Professor: Bertrum

Document Summary

Overview: economic impact statistics, optimization, multipliers, elasticity of demand, price, tsas. Touris(cid:373)(cid:859)s eco(cid:374)o(cid:373)ic i(cid:373)pact o(cid:374) the us: total tourism expenditures- billion, domestic billion. International billion: employment 7. 4 million jobs, domestic 6. 5 million. International 880 thousand: notice the i(cid:373)porta(cid:374)ce of (cid:858)do(cid:373)estic touris(cid:373)(cid:859) Ga does not have a good economic impact of tourism video, but nc does: overview of how tourism can provide a lot of positive economic benefits across a state. Indivisibilities- have to build a large hotel or airplane: legal constraints- land owning policy, self-imposed constraints, lack of knowledge, limits on supportive resources. Tourism as an export and import: when is tourism an export or import, export- selling an experience. Import- if you are the us and a lot of the population goes over to europe a spends their money there then you are importing tourism. Export: balance-of-payments, want it to be a net exporter, exports-imports. Calculating economic multipliers: direct spending = ,000,000 in direct expenditures.