Contribution from Tourism and Travel to GDP by Country
Globally, travel and tourism is an important part of the world economy. However, the importance of the sector compared to other economic activities varies greatly by country and region. Contribution from Tourism and Travel to GDP by Country is an important way to see the impact of Tourism on the economy of a country. It differs from amount of tourism in dollar amounts because it is compared to the GDP of the country. The country that has the most tourist or revenue from tourism is different from the country whose GDP is made up primarily from the tourism industry.
Methodology [edit][edit]
Total Travel and Tourism (T&T) contribution to GDP consists of Direct, indirect and induced contributions.[1]
-Direct contribution reflects all internal spending on travel and tourism by all residents and non residents, as well as the government spending on services directly linked to tourism, travel and the visitors. Direct Contribution consists of three sections: Commodities, Industries and Sources of Spending.
- Commodities include, Accommodation, transportation, Entertainment and Attractions.
- Industries Include, accommodation services, food and beverage services, retail trade, transportation services, and cultural, sports and recreational services.
- Sources of spending include, Residents domestic T&T spending, Businesses domestic travel spending, visitor exports, and individual government T&T Spending.
-Indirect contribution consists of T&T investment spending, government T&T spending, and impact of purchases from suppliers.
-Induced Contribution is the spending of direct and indirect employees and consists of food and beverages, housing, clothing and household goods.[2]
Overview[edit]
The travel and tourism sector accounts for 10.4% total contribution of Global Gross Domestic Product (GDP). 9.9% of total employment, or 313 million jobs as of 2017. The Tourism and Travel sector accounted for 4.6% of global GDP growth in 2017[3].The total economic contribution (direct, indirect and induced) from the travel and tourism sector was over 7.6 trillion U.S. dollars in 2016. The tourism industry has been experiencing steady growth every year for many years. Worldwide the international tourist arrivals increased from 528 million in 2005 to 1.19 billion in 2015.[4]
The Maldives is the country where tourism represents the largest portion of the economy, measured as percent contribution of tourism and travel to Gross Domestic Product. As of 2017 the % GDP contribution from travel and tourism in the Maldives was 76.6%, meaning over three quarters of the economic output of the Maldives is tourist related. The top five countries where tourism is a large portion of their economic activity include: Seychelles, Macau, Antigua and Barbuda, and the Bahamas.[5]
Analysis on the top country: The Maldives[edit]
The Maldives are located in the indian ocean, right above the equator. It has a population of 300,000 and it consists of 1192 islands, 192 of which are inhabited. The islands are formed around twenty six different atolls. It spans 90,000 square kilometers which makes it the most geographically dispersed country in the world. Most of the resorts in the Maldives are located by the Ari atoll and the Kaafu atoll, which surround the international airport. The growth of the tourism sector in the Maldives has been growing at at average rate of 5.2 percent over the last five years, the global average for tourist growth in 2016 was 3.9%. In 2016 the number of tourists that visited the country was 1,286,135. The majority of the economy and all jobs are related to the tourism industry due to its high portion of GDP. They have a law that states 50% of all employees must be locals. To maintain the tourism sector in the country, the government has set up a variety of marine and land protected regions, including the UNESCO Heritage Biosphere at Baa Atoll.[6] The maldives have won numerous awards for their tourism industry including World's Leading Beach Destination, World's Leading Dive Destination, Indian Ocean’s Lading Destination and many more.[7]
Data[edit]
The chart below displays total contribution to GDP (as a percentage) from the Tourism and Travel sector by country for the year of 2017.
References[edit]
- ↑ "Economic Impact" (PDF).
- ↑ "Economic Impact" (PDF).
- ↑ "Economic Impact" (PDF).
- ↑ https://www.statista.com/topics/962/global-tourism/. Missing or empty
|title=(help) - ↑ https://knoema.com/atlas/topics/Tourism/Travel-and-Tourism-Total-Contribution-to-GDP/Contribution-of-travel-and-tourism-to-GDP-percent-of-GDP. Missing or empty
|title=(help) - ↑ http://matimaldives.com/maldives/. Missing or empty
|title=(help) - ↑ https://www.hoteliermaldives.com/2016-maldives-tourism-industry-review/. Missing or empty
|title=(help) - ↑ https://www.britannica.com/topic/list-of-countries-1993160. Missing or empty
|title=(help) - ↑ https://knoema.com/atlas/topics/Tourism/Travel-and-Tourism-Total-Contribution-to-GDP/Contribution-of-travel-and-tourism-to-GDP-percent-of-GDP. Missing or empty
|title=(help)
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