Importance of Tourism

IMPORTANCE OF TOURISM

Tourism has become one of the world’s major industries. Current forecasts suggest that international travel will double by the year 2,000 and will account for 10% of international trade. Both developing and highly-developed nations are now taking a closer look at the potential benefits from tourism:

1.        Contribution to the balance of payments-Tourism can help correct the balance of payments deficit of many countries by earning the much needed foreign currency in international trade. Examples of counties in which the tourist industry has helped to reduce the deficit are: Spain, Mexico, Philippines, Thailand, Hongkong, and Singapore.

2.       Dispersion of development- International tourism is the best means to spread wealth among countries thus, bridging the economic gap between the rich and poor nations.

3.       Effect on general economic development- Expenditures by tourists can have beneficial effects on all economic sectors and lead to the development of different industries and other economic activities.

4.       Employment opportunities- Tourism is a source of employment. It is a service industry which could have a significant effect on those countries with surplus labor such as the Philippines. For countries where there is a high rate of unemployment, tourism can provide a ready solution.

5.       Social benefits- Social exchange takes place when touristy come in contact with the inhabitants of the places they visit. Their social background and their presence affect .The social structure and way of life of the local residents. In the same way, tourists are also affected by the experience so that they often carry with them new habits and a new outlook on life when they return home.

6.       Cultural enrichment- Tourism emphasizes a sharing and appreciation of cultures rather than the lack of trust brought about by isolation. Through tourism we can appreciate the rich human and cultural diversity that the world offers: evolve a mutual trust and respect for one another and the dignity of life on earth. Tourism likewise contributes to the preservation and development of the world’s cultural heritage. It encourages governments to preserve historical sites and monuments and motivates indigenous groups to preserve their heritage in the form of dance, music, and artifacts.

7.        Educational significance- Tourism enhances one’s education. International conferences, seminars, study trips held each year enable people of all nations to exchange ideas. Propose solutions to problems and share their concerns. They provide up-to-date information for enhancing the knowledge and skills required for the development of the tourism industry.

8.        A vital force for peace- Tourism, properly designed and developed can help bridge the psychological and cultural distances that separate people of different races, colors, religions and stages of social and economic relationships among individuals, tourism can help overcome prejudices and foster international brotherhood and world understanding. Thus, tourism can become a real force for world peace.