Impact of Tourism on the Worlds Economy

There are versatile varieties of resources that have over the years influenced the world’s sustainability in the economic field; however, tourism comes out as a major opportunity when aiming at increasing the growth. Today the world is dependent on tourism to affect the balance in the growth of its economy (Adrian 385). Through tourism there are benefits that make the growth a reality that is achievable. Tourism alone across the globe is accountable for a lot of growth in the economy with over $600 million dollars spent annually. Through this availability of such an enormous amount in use, majority of the countries in the world use it to grow their various industries such as entertainment, their leisure sports, travel sector and other tourism related sectors (CheChou 229).

Culture defines a people’s heritage and past; therefore, through tourism it is conceptualized and marketed to the world as an attraction. By doing so, culture is protected and industrialized to make people aware of their roots (Fayissa 809). For example, in Africa, there are a lot of cultural practices that are maintained and exercised with a wish to ensure that it is not forgotten. This emergence impacted the economic growth across the world, since through these changes people enjoy reliving the past and thriving in its experiences. In Rwanda, which is a country in Africa, cultural heritage has been emphasized as a tourism attraction. "Does tourism development promote economic growth in transition countries? A panel data analysis. " Economic Modelling 33 (2013): 226-232. Du, Ding.