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CHAPTER 14 TOURISM’S ECONOMIC IMPACT LEARNING OBJECTIVES Know the economic generators and impact of tourism. Perceive the economic importance of tourism in various regions of the world. Know about tourism satellite accounts. Understand multipliers. Know about balance of payments. Comprehend elasticity and inelasticity. CHAPTER OUTLINE Outline Summary Points of Emphasis 1. Generators of economic A function of the number of both domestic and international visitors, impact their expenditures, and the various multipliers in that particular area. Tax receipts and employment are additional measures. 2. Number of Visitors Examine tourism activity in the regions of the world based on Table and Receipts 14.1. Europe dominates both arrivals and receipts. 3. Optimization Maximize psychic benefits and experiences of tourists. Maximize profits for business firms serving tourists. Maximize primary and secondary impacts of visitor spending. All of the above can be and should be compatible. Any economic activity is limited by various constraints: demand, supply, technical, environmental, time, indivisibility, legal, self-imposed, lack of knowledge, limits on supportive resources. 4. Economic multipliers Income, transaction, capital, and employment multipliers. Tourist expenditures create direct and indirect impacts. Direct – to suppliers and indirect to those firms serving the direct tourist suppliers, such as a laundry serving a resort hotel. Savings by these businesses not lent to another spender and imports reduce the multiplier. Benefits widely distributed. 5. Tourism satellite
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This note was uploaded on 04/15/2009 for the course HTM 2454 taught by Professor Bjmihalik during the Spring '06 term at Virginia Tech.

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