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The economic contribution of tourism is felt in both direct and indirect ways, where direct economic impacts are created when commodities like the following are sold: accommodation and entertainment, food and beverages services, and retail opportunities.
An economic impact analysis only covers specific types of economic activity. Some social impacts that affect a region's quality of life, such as safety and pollution, may be analyzed as part of a social impact assessment, but not an economic impact analysis, even if the economic value of those factors could be quantified. [2]
The WTTC performs and publishes research in conjunction with Oxford Economics on the economic and social impact of the travel and tourism industry. [3] The foundation of the WTTC's research activity is a set of annually produced Travel & Tourism Economic Impact Reports. These include a global report as well as 24 regional and 184 country reports.
The global travel and tourism council and Oxford Economics collected data from the U.S. bureau of economic analysis and Miami-Dade County to zero in on economic impact specifically from tourism ...
Impacts of tourism. Tourism has a significant impact on destinations, influencing their economy, culture, environment, and communities. Tourism positively affects many parties in society but can also be detrimental in certain situations. In general, tourism positively affects the economy of its destination.
Sustainable tourism is a concept that covers the complete tourism experience, including concern for economic, social, and environmental issues as well as attention to improving tourists' experiences and addressing the needs of host communities. [1]
High-income tourism may well significantly increase leakage, as that industry likely involves importing more goods and services than usual. Ecological or adventure tourism may exhibit a very small degree of leakage, however, as they place value solely on what the host country has to offer.
Impact investing is a strategy that aims to generate both financial returns and positive social or environmental change. Impact investing aims to support certain companies while also netting a ...