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Tourism: Economy and Government

Tourism: Economy and Government. Tourism Figures. Gross Domestic Product 10.3% 234+ million jobs 1/18 jobs in the US Annual revenues $1.3 trillion in the US. Economics?. Science– wants vs. scarcity Wants Scarcity Resources. Supply vs. Demand. Supply- selling what it does not own?

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Tourism: Economy and Government

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  1. Tourism: Economy and Government

  2. Tourism Figures • Gross Domestic Product • 10.3% • 234+ million jobs • 1/18 jobs in the US • Annual revenues $1.3 trillion in the US

  3. Economics? • Science– wants vs. scarcity • Wants • Scarcity • Resources

  4. Supply vs. Demand • Supply- selling what it does not own? • Demand- how has this changed over time? • Impact of prices

  5. Supply and Demand Everest • Demand • Supply • Government action?

  6. Economic Leakages– High v. Low Options

  7. Externalities

  8. Government Influence • Paid holidays • Bank holiday, paid vacation • Incentives for business • Grants and loans • Low interest rates • Tax breaks • Easier visa and passport rules • Schengen zone • Boycotting travel-- protest

  9. Examples • Florida • Myanmar

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