Best answer: How can tourism industry help the economy of the developing countries?

Tourism boosts the revenue of the economy, creates thousands of jobs, develops the infrastructures of a country, and plants a sense of cultural exchange between foreigners and citizens. … Governments that rely on tourism for a big percentage of their revenue invest a lot in the infrastructure of the country.

How does tourism help in developing a country’s economy?

The main benefits of tourism are income creation and generation of jobs. … The ability of the national economy to benefit from tourism depends on the availability of investment to develop the necessary infrastructure and on its ability to supply the needs of tourists.

Is tourism beneficial for developing countries?

But, is tourism good for developing countries? The short answer is yes. At its most basic level, tourism brings much needed foreign money into these countries’ economies. … While tourism is undoubtedly helpful for poor countries’ economies, it can also bring added challenges to these developing nations.

How tourism development is the major for country development?

For Nepal, tourism is the main instrument for regional development with positive economic impact on the income, employment and production. In recent years, there has been exponential growth in the number of travel agencies, tour guides, tour operators, rafting agencies and trekking agencies.

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Why do developing countries rely on tourism?

For developing countries, tourism is often the most sustainable economic development option and reduces the poverty level. It also lowers the unemployment rate with the locals providing goods and services to the tourists.

How can the tourism industry help to alleviate poverty of the country?

Sustainable tourism leads to employment diversification on a local level, which reduces the vulnerability of the poor. The UNWTO claims, “Wages can often reach $1,000 to $4,000 per worker per year.” This is enough to bring workers and their families above the poverty line.

Why tourism is important in economic growth?

By attracting international tourists, tourism contributes significantly to a destination’s economic growth by accumulating foreign exchange earnings, providing employment opportunities, and improving infrastructure, among other reasons. … These effects are widely observed in tourism-related industries.

What is tourism and economic development?

Economic development is a broad concept with no universally accepted definitions. … Tourism, as an economic ▶ activity, is being used to help support or bolster an economy and regional development. ▶ Tourist spending is a prime source of foreign exchange earnings and fiscal revenue for the host government.

How can we effectively develop tourism industry?

How can you develop this?

  1. Step 1: Connect with local communities. …
  2. Step 2: Train them in tourism. …
  3. Step 3: Create cooperative ownership. …
  4. Step 4: Create community products. …
  5. Step 5: Create partnerships. …
  6. Step 6: Think about marketing your new product.

What are the benefits and costs of tourism on the economy?

Tourism is closely associated with economic development. The tourism industry is open and promotes the development of many other economic sectors. Other benefits of tourism include improvement of the balance of payments of countries, the creation of employment opportunities and the enhancement of cultural heritage.

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