HBM 235 Lecture Notes - Lecture 16: Comparative Advantage, Opportunity Cost, World Tourism Organization
7 Dec 2016
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Document Summary
Tourism impacts, made up of: socio-cultural, environmental and economic (the triangle, all related, cant talk about 1 without talking about others) Sandals does what they do, for economic interests. Collection of many industries: souvenirs, transportation, attractions etc. Typically, focus has been on economic bottom line: aka profit. Experiences (created in destination ends up w/ traveler) Economic benefit of tourism attractive: especially to developing nations, exports huge part of economic development formula (have to have more going out than you"re buying) Three pro-tourism arguments for developing nations: (1) demand for international travel continues to increase. Demonstration effect: when local residents exposed to foreign goods/tastes/styles and begin demanding those goods for themselves. Either increase exports to generate money or import substitution: substitution of local products for imported ones. Economic implications of tourism: agriculture, textiles/manufacturing, fisheries logging/mining. Not sustainable: so for many developing nations, tourism is only industry in which they may have a comparative advantage.
