3/23/2017

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The Tourism Industry

Tourist are people who travel to locations other than their immediate surrounding in search of pleasure, relaxation, and recreation. In certain instances, business travel can be placed in the tourism category when the traveler takes in the sights and sounds of his or her business destinations.

The tourism industry plays a huge part in economies all around the world. Many countries, large and small, promote tourism as a way of bringing in much needed revenue to their economies. In some countries, especially island nations, tourism may be the one and only source of income for the locals.

The reason: When people travel, they spend their money. And when they spend their money, it boosts the income of businesses in the area and that creates much needed employment opportunities to local citizens.

That money, in return, has a ripple affect on the economic well being of the entire country. How? Business have to pay local governments for licenses to operate in the area, sales taxes are charged on the money spent on the purchases made by tourists, taxes are paid on the incomes of workers, and products are bought and sold for profit.

The tourism industry is responsible for hundreds of billions of dollars in revenue worldwide. Although some people travel often, others may only get to travel once or twice in their lifetime. Together, the totals add up and the money spent in any particular year is tremendous.

Tourists spend money on airline, bus, and train tickets, luggage, cab fares, bus tours, souvenirs, food, clothing, cameras, hotels, rental cars, gas, insurance, and much, much more.

Cruises have become a billion dollar industry in itself, taking travelers to exotic locations while spending days, and sometimes weeks, on the open seas around the world.

Sightseeing has become popular on a global scale. What people hear and read about is what they usually want to see and experience. In popular tourist areas, companies have set up sightseeing tours that cater to those who want to take in as many sights as possible while they are vacationing or on business.

The ups and downs of the worldwide economy has a lot of impact on the tourism industry. When there is an economic boom, people tend to have extra money to spend, especially to travel. They take longer trips, stay for longer periods of time, and are willing to spend more money. But when there is a strong recession, many people tend to stay close to home.

Hotels and motels, bed and breakfast inns, casinos, amusement parks, state and national parks, malls, restaurants and eateries, museums, theatres, service stations, and other venues profit greatly when people travel.

By all accounts, the tourism industry will continue to grow as countries like China, India, Brazil, and Argentina continue their quests to become economic powerhouses, thereby giving more and more of their citizens the money to afford to travel abroad.

 

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