The Impact of Tourism Industry in the Economy. The Case of the Black Sea Region Countries
AbstractThe Black Sea region is an area of high importance, both geopolitically and economically. In terms of socio-human and tourism resources, the region is characterized by a high degree of heterogenity; this generates a special interest for tourists around the world. If on the social and environmental dimensions of development tourism activity effects are both positive and negative, the tourism and travel industry bring indisputable benefits to the economy. Based on this premise, this paper proposes to evaluate the impact of tourism in the economy of the Black Sea region. The importance of tourism in the economy is given by the share of tourism in GDP and employment, and also by the multiplier effect of tourism and industry efficiency. Calculating the Tourism Multiplier Coefficient for the 12 countries in the region, and making the ratio of the share of industry in GDP and the share of industry in employment has been determined in comparison, the degree that the tourism industry is a key sector in the economy.
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Bibliographic InfoArticle provided by Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest in its journal Knowledge Horizons - Economics.
Volume (Year): 6 (2014)
Issue (Month): 2 (June)
Tourism; economic impact; tourism multiplier coefficient; GDP; employment;
Find related papers by JEL classification:
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
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