Author:
Khalil Samina,Kakar Mehmood Khan,. Waliullah
Abstract
Tourism activities are considered to be one of the major
sources of economic growth. It can be regarded as a mechanism of
generating the employment as well as income in both formal and informal
sectors. Tourism supplements the foreign exchange earnings derived from
trade in commodities and some times finance the import of capital goods
necessary for the growth of manufacturing sectors in the economy. On the
other hand rapid economic growth in the developed economies attracts
foreign travels (Business travels), which leads to an increase in the
foreign reserve of the country. Over the past several decades,
international tourism has been gaining importance in many economies of
the world. According to the World Tourism Organisation (2002),
expenditures by 693 million international tourists traveling in 2001
totaled US $ 462 billion, roughly US $ 1.3 billion per day worldwide. In
addition, tourists spending have served as an alternative form of
exports, contributing to an ameliorated balance of payments through
foreign exchange earnings in many countries. The rapid growth of tourism
led to a growth of household incomes and government revenues directly
and indirectly by means of multiplier effects, improving balance of
payments and provoking tourism-promoted government policies. As a
result, the development of tourism has generally been considered a
positive contribution to economic growth.
Publisher
Pakistan Institute of Development Economics (PIDE)
Subject
Development,Geography, Planning and Development
Cited by
78 articles.
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