TOURIST ECONOMY Meaning and
Definition
-
A tourist economy refers to an economic system that is primarily reliant on tourism as a major source of revenue and employment opportunities within a particular region or country. It is characterized by the significant contribution of tourism-related activities to the overall gross domestic product (GDP) and the creation of jobs in sectors such as hospitality, transportation, entertainment, and retail.
In a tourist economy, the region or country promotes itself as a desirable destination for vacationers, sightseers, and individuals seeking leisure activities or cultural experiences. The emphasis is placed on attracting a large influx of tourists and providing them with a wide range of services and facilities. These may include resorts, hotels, restaurants, guided tours, cultural events, and recreational activities tailored to the needs and preferences of visitors.
The success and prosperity of a tourist economy are often determined by the number of tourists it can attract, the length of their stay, and the amount of money they spend during their visit. The generated revenue is reinvested in infrastructure development, promotional campaigns, environmental conservation efforts, and improvement of tourist amenities.
However, a tourist economy can also have its challenges. It can be highly vulnerable to fluctuations in the global economy, political instability, natural disasters, epidemics, or pandemics. Thus, diversification of the economy and the development of alternative sectors are often encouraged to reduce dependence on tourism and ensure long-term sustainability and stability.
Common Misspellings for TOURIST ECONOMY
- rourist economy
- fourist economy
- gourist economy
- yourist economy
- 6ourist economy
- 5ourist economy
- tiurist economy
- tkurist economy
- tlurist economy
- tpurist economy
- t0urist economy
- t9urist economy
- toyrist economy
- tohrist economy
- tojrist economy
- toirist economy
- to8rist economy
- to7rist economy
- toueist economy
- toudist economy
Etymology of TOURIST ECONOMY
The etymology of the term "tourist economy" can be traced back to the combination of two words: "tourist" and "economy".
The word "tourist" dates back to the early 19th century and originates from the French word "touriste", which means "one who makes a tour or voyage". The French term itself was derived from the Old French word "torner", meaning "to turn round". This reflects the idea of travelers going on a journey or circuit.
On the other hand, "economy" stems from the Greek word "oikonomia", which means "management of a household" and was later adapted into Latin as "oeconomia". Over time, the term broadened its meaning to include the management of resources and finances on a larger scale, such as that of a country or region.
Infographic
Add the infographic to your website:
