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Tourism – An economic and social phenomenon
May 20, 2017, 5:21 pm

Over the decades, tourism has experienced continued growth and deepening diversification to become one of the fastest growing economic sectors in the world. More than one billion tourists travel the globe each year and this number is expected to nearly double by 2030.

Modern tourism is closely linked to development and encompasses a growing number of new destinations. These dynamics have turned tourism into a key driver for socio-economic progress.

Today, the business volume of tourism equals or even surpasses that of oil exports, food products or automobiles and is the fourth largest export sector in the world accounting for over $1.5 trillion in exports annually. Tourism has become one of the major players in international commerce, and represents at the same time one of the main income sources for many developing countries. This growth goes hand in hand with an increasing diversification and competition among destinations.

The global spread of tourism in industrialized and developed states has produced economic and employment benefits in many related sectors - from construction to agriculture or telecommunications.

The contribution of tourism to economic well-being depends on the quality and the revenues of the tourism offer. The UN World Tourism Organization (UNWTO) assists destinations in their sustainable positioning in ever more complex national and international markets. As the UN agency dedicated to tourism, UNWTO points out that particularly developing countries stand to benefit from sustainable tourism and acts to help make this a reality.

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