Tourism: Economy and Government

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Presentation transcript:

Tourism: Economy and Government

Tourism Figures Gross Domestic Product 10.3% 234+ million jobs 1/18 jobs in the US Annual revenues $1.3 trillion in the US

Science– wants vs. scarcity Wants Scarcity Resources Economics? Science– wants vs. scarcity Wants Scarcity Resources

Supply vs. Demand Supply- selling what it does not own? Demand- how has this changed over time? Impact of prices

Supply and Demand Everest Government action?

Economic Leakages– High v. Low Options

Externalities

Government Influence Paid holidays Incentives for business Bank holiday, paid vacation Incentives for business Grants and loans Low interest rates Tax breaks Easier visa and passport rules Schengen zone Boycotting travel-- protest

Examples Florida Myanmar