The satellite account (TSA) generally creates a broad picture of the industry that allows it to compare to conventional industries for instance agriculture, retail trade and manufacturing (Doan 2000, p. 267-288). However, more in the focus has been on the economic aspect of tourism and the positive impacts the industry has on the economies of respective countries. The gross domestic product of tourism (TGDP) estimates and tourism gross value added generally relate to the impact of tourism activity directly, but there is more to the impacts of tourism than just the economic value (Richards and Hall 2000, p.89-97). It is great to look into tourism in the economic field before conducting analysis of whether the practice is overly positive or negative.
Tourism is ideally a multimillion-dollar industry for many countries. According to the World Tourism and Travel Council (WTTC), it is the world’s stable and fastest growing industry predicted that ideally, by the end of the coming decade at least a quarter of billion persons will be working within the tourism and travel sector (Richards and Hall 2000, p.89-97). Out of this, there is a perception that this is the best development tool for many less developed countries. Looking at it from this perspective, it is highly arguable that overly, the industry is more positive with impacts in such sectors (Croall 1995, p.67). However, there is a negative impact on the same note.
Although communities within a local region gain a financial infusion in tourism, many factors determine the proportion of income that remains within the local economy (Croall 1995, p.67). This is because many large multinational corporations for instance tour operators retain the largest proportion of tourism’s profits, with the remainder lost via several forms of leakage, for instance soft drinks, that are, imported particularly from outside the local community ideally at a high cost (Richards and Hall 2000, p.89-97). This is, therefore, negative is a terrific way because it drains away most of the countries revenue and drags down the economy.
However, looking at it in a more positive way (Murray 2009, p.186-208), the industry in maintenance, construction, and operation of tourist facilities, complements the drained capital therefore no cause of alarm to overrule the positives of the industry (Deardon and Harron 1994, p. 81-102). On a different perspective, tourism is impressive and controls its operations, therefore, maintaining as a stable practice across the globe, which has more of positive affects (Doan 2000, p. 267-288). In the modern tourism industry, the practice has taken a different approach, and it I now practiced as ecotourism (Acott and La Trobe, 134-156).
Ecotourism ideally draws on many concepts. It can be defined generally as, a sustainable tourism form focusing on learning and experiencing about nature. It should be ethical in management in order to be oriented locally, low-impact, non-consumptive and small scale (Acott and La Trobe, 134-156). Richards and Hall (2000, p.89-97) suggested that sustainable tourism practically takes into account many features. These are social, environmental, cultural, economic, political, managerial and governmental (Croall 1995, p.67). Although it is accepted widely that sustainability is among the most relevant issues faced by the industry, there has been claims that because of sustainable tourism ideally being a loosely defined concept, the industry has to simple terms adopted it for the purposes of marketing (Richards and Hall 2000, p.89-97). However, sustainable tourism is a positive impact and one that should be hailed in the industry because it conserves the environment and adds to the sustainability of the ecological niche (Acott and La Trobe, 134-156).
More to the positive of the tourism industry, it generates jobs for many economies and the people in respective countries. This, therefore, makes it an exciting industry and one that is critical in any economy (Deardon and Harron 1994, p. 81-102).
Read More