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n the oil price on the economy is not supported by economic growth contraction and this remarkable fall in the oil price has been experienced by the economy for the first time. The present decrease in the oil price on the economy is not due to the fall in demand but increase in supply of oil on the economy. The consumption of oil on the economy is directly related to the economic growth. The fall in the oil price has negative impact on the exporters of the world. The fall in the oil prices will result in the deficit budget of the government and this requires the increase in the taxes and cut in the government spending. The decrease in the oil prices will result in the situation of budget deficit on the economy and emergence of various social problems. The fall in the oil price leads to the situation of weak global demand of oil on the economy and it leads to the decrease in the investment and consumer spending and increase in the debt burden.
The fall in the oil price has negatively affected the economy. The crash of oil price on the economy has an adverse affect on the global economy. The decrease in the oil prices were considered as favourable for the countries like US and Japan where the price of Gasoline was very low . On the contrary the decrease in the oil price has affected severely to the oil exporting countries like Russia and Venezuela since Venezuela may encounter unrest on the economy and increase in the debt obligation and the fall in the oil prices have adversely affected the oil rich countries like Saudi Arabia as they will face severe loss if the price of oil continued to remain low.
And this fall in the oil price experienced by the economy in the year 2014 has resulted due to the fact that the price of oil has rouse significantly in the year 2000 and with the increase in the oil price many of the energy companies gained profit through the extraction of oil from the difficult oil drilling places .In U.S they adopted the technology of drilling
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Globalization has added dimensions to all kinds of fields which people avail to intermingle with one another in a better way. Although globalization is generally talked about in a positive manner and the positive consequences are overemphasized upon, yet the fact that globalization has exposed the world to a whole range of challenges cannot be denied.
Tourism is usually one of the biggest income earners for many countries,and in Canada,the sector accounts for a lot of revenue.From definition of tourism in Canada, it is evident that tourism is the various activities conducted by individuals travelling out of their usual environments to places in Canada mostly for pleasure.The biggest facet of tourism in the Canadian economy comes from international visitors who come into the country to visit the diverse environment.The tourism sector is made up of different businesses and individuals who make the sector thrive and provide an income for the economy.The tourism sector in Canada has many advantages to the three main sectors of the industry and
International tourism is influenced positively by the increased use of electronic and other technologies, and adversely impacted by the rise in fuel prices and airline fees. Coles and Hall (2008) assert that challenges faced by international tourism include the development of a destination’s built resources, the conservation of the social, cultural, natural, and wildlife resources, and supporting the socio-economic progress of the local community.
It was also able to set up a record of having 1.03 million visitors in a single day. The World Expo has set new standards for encouraging tourism within a country. A good tourism package, in the past, only used to consider visitor attractions, entertainment, transportation, hospitality and good accommodation.
The host city has to work in collaboration with the Organizing Committee of the Olympic Games (OCOG) and their National Olympic Committee.
London is brimming with joy at the moment for being voted as the center of such a mega event. Polley has rightly observed in Smith and Porter (2004, p.
Tourism has become today, one of the biggest industries in the world and has proved beneficial in many ways. USA has decided to showcase its immensely rich heritage, mainly of Native Americans, less of immigrants who occupy the whole of America today.
For the promotion of sustainable tourism the tourists should be sensitive to the dangers they are likely to pose to their destinations and they should therefore protect their destinations and the tourism industry in general. The tourists can achieve this by acquiring adequate information in advance concerning the politics, economy and culture of the communities they intend to visit, by respecting and anticipating the local cultures of the communities visited their assumptions and expectations.
routine conferences, celebrations, or sporting events—by the tremendous amount of resources that go into their implementation and the physical legacies for host cities. (Greene, 2003: 164-165)
Mega-event tourism refers to the tourism that is generated by such mega events.
Citizens from these countries have as well gained from various employment opportunities resulting from economic development of the regions visited by tourists. Some of the highly developed Western nations such as Switzerland, Italy, and Austria have