Introduction According to World Travel and Tourism Council 1997‚ “Tourism Industry is the world’s prominent industries contributing $3.6 trillion to the global gross domestic product (GDP) and employing 255 million people”. (Apostolopoulos‚ Sonmez &Tarlow 1999). It is also considered one of the most exciting and progressive industries which has a big impact on all other industries. Although tourism industry has shown tremendous growth in recent years providing incredible experiences
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The concept of outsourcing has erupted in popularity in the 21st century. Many corporations and small businesses reap the advantages of outsourcing their manufacturing or production needs to maintain their competitive edge. As employment in many countries contracts‚ there are people who look at the benefits of outsourcing as damaging to an economy. The main argument is reducing the labor costs involved in producing goods or services. On the surface‚ American employees view outsourcing as a threat
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local farmers and workers from reaping the benefit of their presence. Tourism has the power to affect cultural change. Successful development of a resource can lead to numerous negative impacts. Among these are overdevelopment‚ assimilation‚ conflict‚ and artificial reconstruction. While presenting a culture to tourists may help preserve the culture‚ it can also dilute or even destroy it. The point is to promote tourism in the region so that it would both give incomes and create respect for the
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contribution of the tourism industry to economic growth and employment is now being recognised although‚ in international terms‚ Australia still lags well behind in tourism receipts. In 1982‚ Australia’s relative share of the market represented only 1.4 per cent of the OECD total‚ placing Australia on a par with countries such as Sweden and Portugal but eight to ten times below the level of the United States‚ Italy or France. A 1981-82 survey on the economic significance of tourism by the Bureau of
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The Impacts of Natural Disasters on the Tourism Industry THM 1311 Intro. to Tourism & Hospitality Management Samantha Salamon THM 1311 Introduction to Tourism and Hospitality Management The Impacts of Natural Disasters and on the Tourism and Hospitality Industry Table of Contents Introduction Why Study the Impacts of Natural Disasters on the Tourism Industry? Taiwan Earthquake of 1991 Japan Earthquake of 2011 Market Rebuilding/Hurricane Katrina Works Cited page 1 page 2 pages 3-4
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c Impact Manchester United’s Economic Impact By Dalton Truax For Mike Pearson Sports Marketing & Management 28 February 2013 Introduction Manchester United is the most valuable sports club to exist so surely the club must make the city a lot of money every year‚ right? Soccer is the most popular sport in the world‚ and the most popular soccer club in the world is Manchester United. There is no denial that Manchester United has had a huge cultural impact as
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THE ECONOMIC IMPACT OF THE HORSE INDUSTRY by MARIA A. CERASI submitted to Mr. Henry Ryder PRINCIPLES OF ECONOMICS II GLOUCESTER COUNTY COLLEGE APRIL 2012 People often view the equine industry as nothing more than simply an expensive hobby. However‚ in actuality it is far more than just that. The horse industry has an enormous impact on the United States economy
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The Economic Impact of the Olympic Games With the Olympic games being held in Sydney this year‚ I wondered if perhaps the performance of the economy was being affected in part by the fiscal stimulus provided by Olympic construction in Sydney and other parts of the country. Australia’s economy has been performing well recently‚ suggesting that there might be some effect. Over the last five years‚ growth in Australia’s gross domestic product has averaged 4.35%‚ almost a full point above it’s thirty
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IMPACT OF NATURAL DISASTERS ON GDP (RELATE TO THE GDP METHOD USED) Due to rising population‚ climate changes and environmental degradation‚ natural disasters is increasing in frequency. There are several factors which affect a country’s vulnerability to natural disasters; its geographic size‚ the type of disasters‚ the strength and structure of its economy and prevailing socioeconomic situation. Japan uses the expenditure method to measure national income. The expenditure include personal consumption
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ECONOMIC IMPACT OF LEGALIZING MARIJUANA GWENDOLYN CARTER PRINCIPLES OF MACROECONOMICS 4/21/2015 The history of marijuana and how it became illegal is interesting. In 1970 the United States Congress passed legislation called the Controlled Substance Act‚ which listed marijuana as a Schedule I drug. This is the same category that LSD‚ cocaine‚ heroin and ecstasty and are described according to DEA drug schedules‚ as having no currently accepted medical use and a high potential for abuse
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