Relationship Between Tourism And Global Econom

Introduction

The tourism industry is one of the most prominent sectors of the worldwide economy as it serves both local and foreign travelers on business, study and leisure. These travelers are often attracted to nations based on social factors such as culture and location, but a prominent factor in terms of generating tourists is the nation’s economic wellbeing. This is due to the fact as economic factors such as gross domestic product, financial resources as well as proximity to neighboring countries to attract potential travelers. Furthermore, national governments have taken note of this booming industry and have put forth serious effort to make luring both local and foreign visitors a prominent aspect of their domestic economy. This report will examine the relationship between tourism and the global

Methodology

To prepare this investigation, I acquired five data spreadsheets from The World Bank’s World Development Indicators on the following factors: Sizes of National Economies, Structure of Global Service Imports, Structure of Global Service Exports, Global Travel/Tourism Trends and Global Consumption Growth. For the purposes of this assignment, I utilized the fields that had the strongest connection to the objectives of this study such as eliminating the purchasing power parity column in the “Economy Size” spreadsheet. In addition, I created additional fields to both highlight particular trends within the data and also make it easier to understand. One notable instance of this was my addition of the global region and GNI per capita columns which better identifies the differences in GNI among nations and also facilitates the process of sifting through the large number of countries. Once I chose the data sets that best answered my research questions, I analyzed