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Economics and Tourism Development: Structural Features of Tourism and Economic Influences on its Vulnerability

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  • Tisdell, Clement A.

Abstract

To a large extent, economic factors explain the global growth of the tourism industry, the concentration of tourism in high-income countries, and the high degree of cross-border tourism between higher income countries themselves. This is discussed. In doing so, shortcomings of tourism statistics reported by the World Tourism Organisation are examined. These statistics can be quite misleading as a means of identifying the relative importance of tourism to different nations. This is shown by rank correlations and conceptually. Economics not only influences the geographical spread of tourism but it is a major determinant of market structures in the tourism industry. These industrial market structures, such as those involving monopolistic competition, combined with high overhead costs experienced by pivotal sectors of the modern tourism industry, make this industry highly vulnerable to sudden declines in demand for its services. These supply-side vulnerability factors are additional to those that contribute to volatility in the demand for tourism itself. Combined supply-side and demand factors have, in particular, made the international tourism industry highly vulnerable to shocks, such as terrorist attacks, unexpected political events and so on. Economic analysis can enhance our understanding of the factors involved.

Suggested Citation

  • Tisdell, Clement A., 2002. "Economics and Tourism Development: Structural Features of Tourism and Economic Influences on its Vulnerability," Economic Theory, Applications and Issues Working Papers 90522, University of Queensland, School of Economics.
    • Handle: RePEc:ags:uqseet:90522
    DOI: 10.22004/ag.econ.90522
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    References listed on IDEAS

    as
    1. Tisdell, Clement A., 2001. "The Political Economy of Globalisation: Processes involving the Role of Markets, Institutions and Governance," Economic Theory, Applications and Issues Working Papers 90507, University of Queensland, School of Economics.
    2. Clement Allan Tisdell & Serge Svizzero, 2001. "Globalization, Social Welfare, Labor Markets and Fiscal Competition," Working Papers hal-02164344, HAL.
    3. Tisdell, Clement A. & Alauddin, Mohammad, 2002. "Market-Oriented Reforms in Bangladesh and their Impact on Poverty?," Economic Theory, Applications and Issues Working Papers 90521, University of Queensland, School of Economics.
    4. Tisdell, Clement A., 2001. "Globalisation, the Environment and Sustainability: EKC, Neo-Malthusian Concerns and the WTO," Economic Theory, Applications and Issues Working Papers 90502, University of Queensland, School of Economics.
    5. Tisdell, Clem & Seidl, Irmi, 2004. "Niches and economic competition: implications for economic efficiency, growth and diversity," Structural Change and Economic Dynamics, Elsevier, vol. 15(2), pages 119-135, June.
    6. Tisdell, Clement A., 2001. "Externalities, Thresholds and the Marketing of New Aquacultural Products: Theory and Examples," Economic Theory, Applications and Issues Working Papers 90468, University of Queensland, School of Economics.
    7. Serge Svizzero & Clem Tisdell, 2002. "Reconciling globalisation and technological change: Growing income inequalities and remedial policies," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 37(3), pages 162-171, May.
    8. Tisdell, Clement A., 2002. "Tourism as a Contributor to the Economic Diversification and Development of Small States: Its Strengths, Weaknesses and Potential for Brunei," Economic Theory, Applications and Issues Working Papers 90514, University of Queensland, School of Economics.
    9. Tisdell, Clement A., 2001. "Competition and Evolution in Economics and Ecology Compared," Economic Theory, Applications and Issues Working Papers 90506, University of Queensland, School of Economics.
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