The importance of Travel and Tourism as a mechanism for economic development and job creation is clear. Tourism plays an important role in the socio-economic development of a country. It also has become an extremely important industry in Malaysia. Tourism industry can be indicated as an important sector for the Malaysia economy. It has been identified as the second largest foreign exchange earning sector and helped to strengthen the Malaysian economy in terms of international trade (2011).
2. Impact Of Tourism Industry In Singapore Tourism industry growth has been a major booster to increased economic activity throughout Singapore and the world. Visitors or tourists contribute to sales, profits, jobs, tax revenues, and income to the country. Hence, it is often cited to capture primary and secondary effects of tourism spending. In consequence of the multiplier effect, small changes in government spending can create much larger changes in total turn- out.
The impact of tourism on the economic growth is constantly rising due to increasingly growing size of the tourist market. Domestic tourism also play an important role in achieving the country’s objectives like promoting cultural, Social and national integration. d) Cultural integration: Culture is the most important lifeblood of tourism. Culture and tourism both have a significant relationship. Cultural tourism refers the person’s movement to cultural attractions that is away from their normal place of
Event tourism is proving to be one of the most efficient ways to promote economic development in a region. Through the developing of event tourism, host communities are commonly able to establish themselves in the tourism market industry. This promotion through events can lead to a number of positive impacts which include attracting large numbers of visitors for recurring and extended stays who generally would not normally visit the specific area. This in turn can stimulate the local hospitality and tourism industries through an increase in marketing and an overall increase in business. Once businesses begin to grow this can result in a large number of jobs created for the host community, this can be through the hospitality and sector but more importantly through the construction sector where a majority of jobs are found.
Tourism leads to the creation of job opportunity, improvement in the level of development and infrastructural expense. Developed and developing countries where tourism activities are more pronounced is likely to rise due to a high level of employment. According to other studies by Sharma, the levels of benefits obtained in the two categories of countries vary (Dowling, 2006). The related opportunities and the positive impacts associated with tourism have persuaded cruise industry to increase their expenditures in order to boost the local economy. Opportunities presented by venturing into cruising are believed by many communities to be a way of solving economic problems.
The socio-cultural impacts of tourism refers to the effects on host communities of direct and indirect relations with tourists, and of interaction with the tourism industry. Tourism improves the quality of life in an area by increasing the number of recreational opportunities, attractions, and services. Tourism offers the host residents’ opportunities to meet a variety of people, make acquaintances, learn about the world, and expose themselves to new viewpoints. By experiencing different cultural practices, it enhances experiences and increases insight and appreciation for diverse styles to
Since economic impacts are first on the list, I will start explaining this first. There are many economic impacts towards tourism. This can be proven by all the money the government collects through touristic industries, from hotel, restaurant, airport, sales, park entrance employee income tax and much more. In addition to this, tourists return to the country, so more and more money is received in the touristic industry. There is also the tourist multiplier effect, in which will increase the number of tourists due to other factors, and this can be seen as the tourist industry will help develop other industries in Thailand as well, which will all benefit tourists.
Moreover such table also indicates that, the main contributor to the total tourism expenditure was inbound tourism expenditure. The economic impacts of tourism industry normally focus on indirect impacts which change in sales, income and employment in a region resulting from tourism activity (Daniel J.Stynes, 1999). In Malaysia, tourism is main source and the biggest contribution in economic country. Tourism has potential to contribute sales, profits, jobs and tax revenues, it is the most important reason why the government is attempting to support and boost tourism development. Currently, tourism industries become increasing essential... ... middle of paper ... ...l Airport 2 (KLIA2) is built to replace the Low Cost Carrier Terminal (LCCT) in order to cater for the explosive growth in low cost travel.
Tourism is a social, cultural and economic signs which involves the movement of people going to countries or places outside their normal environment for leisure, business and other purposes. Tourism industry is an industry which its activities produce tourism characteristics products ("World Tourism Organization", 2014). Some of the products are accommodation services, transportation services, food and beverage serving services, travel agency services, recreational services and etc. Singapore is known as one of the most developed countries where its residents enjoy a very high standard of livings ("Singapore Profile", 2014). In addition, it is deemed as one of the world's most prosperous places and safe havens for foreign investors.
Having these attractions, it will support Hong Kong economy and expand upon their existing status. The benefits and costs of the tourism is explicitly analyzed in this essay. Tourism forces immediate costs on the host nations. Such cost is utilized to give products and ventures to vacationer and tourism