Chapter 5 Economic Responsibility

Abstract

It is generally assumed that there is a large positive economic impact from tourism, oft-claimed to be the world’s largest industry. Economic benefits may include foreign exchange ‘hard currency’ earnings; taxation revenue; modernisation through infrastructure development and contact with the international economy; and increased local demand for goods and services, which creates business opportunities and employment. The adage “it is not tourism until it is sold” is an important reminder that tourism is both an experience and a commercial activity. But there are also negative economic impacts to be considered.