Ch14Notes_06 - HTM 2454:Tourisms Economic Impact...

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HTM 2454:Tourism’s Economic Impact Optimization Economic Multipliers Elasticity TSAs Summary of Principle Economic Effects
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Optimization Optimization insists that you maximize: Psychological benefits and experiences of tourists. Profits for the business firms serving tourists.  Maximize direct and indirect impacts of visitor  spending 
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Constraints to Optimization Demand Supply of Attractive Resources Technical and Environmental Constraints Time Constraints Indivisibilities Legal Constraints Self-Imposed Constraints Lack of Knowledge Limits on Supportive Resources
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Generators of economic impact are a function of…. . The number of both domestic and  international visitors Their expenditures Tax receipts and employment The various multipliers in that particular  area 
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Economic multipliers Tourist expenditures create direct and indirect  impacts. Various types of multipliers:
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Ch14Notes_06 - HTM 2454:Tourisms Economic Impact...

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