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Elaborate on the socio economic impact of tourism
Positive and negative impacts of tourism
Positive and negative impacts of tourism
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Tourism is commonly associated with international travel, but it also means to travel to another place in the same country. Tourism has become a popular global leisure activity and it is fun and you can learn many things from the countries you visit. Nowadaysit is a major source of income for many countries, and affects the economy of both the source and host countries. Greek economic krisis It is now an indisputable fact that the Greek economy is beset by a number of factors both internal and international. The negative performance of the Greek economy require to identify and. To understand the causes leading to the current reality to exercise create appropriate and effective policies to address them. The causes of crisis should be sought …show more content…
It also means that through tourism the country shows its cultural heritage. Tourism brings large amounts of income in countries and assists in economic terms, accounting for 30% of the world's trade of services, and 6% of overall exports of goods and services. It also creates new jobs opportunities. The image of a country for the rest of the world become is created by the visitors. They judge by the culture of a country, its relations with other countries, the economic situation, the political system, the environment and labor relations. Tourism has been the leading industry contributing to the Greek economy and millions of households. When people come and visit Greece they leave their money to our restaurants , shops , museums , the use buses for the tour of the town and most important in our hotels. So tourism in Greece is very important for the …show more content…
These effects are positive, but they are not few times can often be negative as well (Haley et al., 2004). Many scientists believe that tourism is a development tool (Gee et al., 1989) with many attendant financial benefits that can be measured objectively and used for further development (Cohen, 1972). However, the social impacts are considered more subjective and vague (Haley et al., 2004). In social impact assessment of weighty importance is the view of the local community, especially when it comes to a small
· Travel and tourism is a major industry in this country and is at the
This financial crisis has caused great problems to Greece, primarily but not limited to an increase in poverty, unemployment and inequality. Greece’s decline started in 2001 when they joined the Euro. From the beginning, Greece never satisfied the criteria of the Maastricht Treaty. The treaty, which forms the basis of European Union selection standards, utilized a set of criteria that a country would have to gratify in order to participate in the Euro. “Countries were required to have annual budget deficits not exceeding 3 percent of gross domestic product (GDP), public debt under 60 percent of GDP, inflation rates within 1.5 percent of the three lowest inflation rates in the EU, and exchange-rate stability” . In particular, Greece’s public debt ratio was at the value of 126.4% of GDP. Many records and interviews show that Goldman Sachs and its president Gary D. Cohne assisted Greece by “fixing” the books and formulating some transactions that eventually resulted in Greece suspiciously filling all the requirements and joining the Eurozone . This “immoral” decision to join the Euro, while having an economy that couldn’t support this position, created another greater need for loans. Greece needed the funds to keep the economy running while the “strong” neighboring countries needed Greece to have a healthy economy. Without a second thought, many members and institutions of the
The Greek economy has seen a large collapse following the recent worldwide recession. The European Union has expressed concerns for the impact that Greece’s economic collapse will negatively affect other member nations. Greece and the European Union are working to reduce the Greek deficit and to contain the economic crisis to Greece.
There are many variables that lead the current condition of Greece’s economy. It would seem that joining the euro allowed Greece, until 2008, to catch up and even surpass its richer Eurozone partners, but these gains have been completely wiped out in the years since. The adoption of the euro gave Greece the advantage in loan rates as well as low rates on the euro bond market. These actions gave Greece a boost in consumer spending which led to great economic growth. Between the years of 1997 and 2007, Greece had an outcome of an average 4% gain in GDP growth. Greece as well as its other European neighbors was hit with the financial crisis and the resulting economic slowdown took a toll on Greece’s growth rate, which dropped to 2% in 2008. In 2009 the recession hit and the economy contracted by 2.4% as a result of the crisis and its effects on credit, world trade, and domestic consumption which is Greece’s main source of growth. High growth and low interest rates were doing a great job of covering up fiscal issues and structural weaknesses that were made worse by the financial crisis a...
How Greece’s problems started- The big problem for Greece is that it is a very corrupt country politically. It’s corrupted both domestically and foreign where large amounts of funding money is being placed in the wrong hands. And 25% of the country 's GDP is falling into undeclared black markets. The severe parts of “The Greek Depression” started in 2009 where fears developed about them not being able to pay their debt obligations due to data that was misinterpreted by the Greek government a while back. Also there is a large in balance in the public sector has created a vastly large expense for the private sector, further contributing to its debt problem. The hosting of the Olympic games also created a large expense for Greece on top of it
Michelis, L. (2011). The Greek Debt Crisis: Suggested Solutions and Reforms. The Rimini Centre Economic Analysis (RECEA), Italy.
Nowadays, developing countries are stimulating to develop the tourism industry to increase the revenue and economic growth. Thailand is one of the counties that used tourism industry to develop for a long time. Tourism industry of Thailand is beneficial because it impacts the national development. The other benefits are the developed areas, medical development, and promoting Thai culture. In addition, Thailand is well-known as ‘the land of smile’ so many tourists are interested in the culture and destinations. Some tourists want to experience the culture heritage of each regions of Thailand. There are benefits that gain from tourism in Thailand.
Various definitions of tourism exist. Tourism is defined by Macmillan Online Dictionary as the business of providing services for those people travelling for holidays. Tourism has experienced continued growth over the years and diversification and has become one of the fastest growing economic sectors in the world. For countries like Australia, it has become one of the major contributing sectors in the economy generating large proportions of the national income and at the same time increase employment opportunities. The future is still bright for the industry in the country with possible future growth in expansion and diversification. The industry however has both the pros and cons impacts to various ranges of environments (Tourism Research Australia).
The Greek crisis is a result of an accumulation of dire policy mistakes. It all began when the previous Greek governments decided not to reveal their debts and deficits in order to fulfill the necessary requirements for the membership of the Eurozone. Furthermore, the government consisted of mass tax evasion as well as corruption. In 2009, the newly elected Greek government decided to expose the real debt and deficits’ figures, which brought much speculative waves regarding the economy. At the moment (since 2010) a number of organizations and countries are providing the Greek state with assistance in regards to alleviating their government debt. International organizations, such as the International Monetary Fund and the European Governing body, the European Union, are undergoing a set of policies designed to assist Greece in its debt crisis. One of the main supporters of the Greek economy is German...
There is not really a universally accepted definition of tourism. In 1994 the World Tourism Organization (WTO) revised its definition. It says the tourism comprises of 'the activities of persons travelli...
Crete is a part of the Mediterranean Sea, located in the southern part of the Aegean Sea. More importantly, it’s the fifth largest island in the Mediterranean Sea. Not only does Crete form a notable amount of contribution to Greece’s economy, but is also rich in its own culture, poetry and music. The primary characteristic of Crete is that it is mountainous and is surrounded by numerous gorges, rivers and lakes. Agriculture and the trade of Dairy products provide for a significant amount to the Greek economy. In recent times, tourism has also gained immense importance, with the number of travelogues increasing.
In my essay, I present the economic implications of the unemployment in Greece to the various stakeholders. In the latest years after the start of the recession, unemployment in Greece has systematically increased, reaching 27.09% in 2014. Having such high unemployment cannot be without its consequences. Many issues have emerged due to that, including loss of income, decrease of output and aggregate demand, deterioration of the workforce, high suicide rates and much more. I have discussed all those thoroughly.
Tourism is often associated with traveling to places away from home. Tourism has a big impact on the economic growth of some countries, which define the shape of their cities by producing different sectors like historic districts, convention centers, museums, malls, hotels, restaurants, and the list can be endless. Furthermore, tourism elements have been developed by cities for a variety of reasons including: situating themselves in the world by drawing a positive image and attracting visitors and for their money.
Firstly, tourism has positive and negative impact on the economy of the local community. It can create jobs and mitigate the numbers of unemployment. For example: one
Tourism's economic benefits are advertised by the industry for a sum of reasons. The idea of tourism's economic significance gives the industry a much greater respect among the business municipal, public officials, and the public in general. This often translates into decisions to tourism.