Answered: Tourism Economics focuses on…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Tourism Economics focuses on understanding the economic impacts of tourism on a destination's economy. A key component of this field is the analysis of how tourism affects local employment. In many destinations, tourism acts as a major employment driver, offering various job opportunities in sectors such as hotels, restaurants, transportation, and entertainment. For instance, a coastal town that becomes a popular tourist destination might see a surge in employment in these sectors. This economic impact is significant as it: A) Decreases overall employment in the town B) Increases unemployment rates C) Contributes to job creation and economic growth D) Has no effect on the local job market*

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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