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Is tourism the biggest earner of foreign currency for most countries?
Wiki User
∙ 11y ago
yes, especially for big business such as U.S.A
Wiki User
∙ 11y ago
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How does Tourism Revenue affect the Balance of Payments of a national government?
A surplus in the balance of payments is when a nation has an increase in flow of funds from trade and investments coming in than paying out to other countries. Income from tourism increases the flow of funds into the economy from people of other countries. It results in the flow of foreign currency into the country and is a revenue to the country resulting in a favorable balance of payment.
What is the biggest industry in the world?
Tourism is the biggest industry in the world
How do hurricanes affect tourism?
Hurricanes usually drop tourism levels for weeks if not months until the city/region recovers. People also tend to avoid visiting countries during their hurricane seasons.
What are the benefits of the mayon volcano?
The biggest benefit of the Mayon Volcano is the tourism it brings to the region. In addition, the soil around the volcano helps grow the crops.
How is mass tourism different to tourism?
The answer is in the name alone, MASS tourism, meaning a great number of tourists. Mass tourism is obviously much more tourism than normal.
What is the importance of foreign currency generated by the tourism indutry?
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What is the importance of the foreign currency generated by the tourism industry?
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How does Tourism Revenue affect the Balance of Payments of a national government?
A surplus in the balance of payments is when a nation has an increase in flow of funds from trade and investments coming in than paying out to other countries. Income from tourism increases the flow of funds into the economy from people of other countries. It results in the flow of foreign currency into the country and is a revenue to the country resulting in a favorable balance of payment.
What social or cultural impact has tourism had on Mexico?
Tourism is one of the most important economic activities in Mexico, as it allows entry of billions in foreign currency while requiring a modest investment to do so.
How are trade and tourism important to Mexico?
Both provide foreign currency to the economy. International tourism provided USD 12.27 billion while exports provided USD 349.9 billion for 2011.
Disadvantages of domestic tourism?
Domestic tourism does have a few disadvantages. After all countries wont be spending thousands on attracting international tourists right? Here are someInternational tourism brings in foreign currency therefore obviously domestic tourism would mean that there is no foreign currency coming in!Domestic tourists won't spend much as an International tourist would (not inevitably anyways)IT can lead to a two tier system which would segregate the local tourists and international tourists.It could be harmful to the environment just as international tourism - It depends on the type of tourism but for instance taking the example of Mecca and pilgrimages. During the holy month of Ramadan and Eid, Thousands of Muslims visit Mecca which could effect the resources and over production of waste.
What are the benefits of international tourism?
The benefits of international tourism is that it generates foreign exchange to the countries in question. It also promotes inter-cultural exchange between individuals of different nationalities.
Differentiate tourism and business travel?
domestic is like doing really nothing. And International tourism is going around the world or somewhere nice Domestic tourism would be touring one's own country. International tourism is leaving one's country to tour another country. The USA has a huge tourism imbalance. Many more Americans travel to foreign countries than foreigners visiting the USA. Until 2010, our government provided absolutely no advertising money to promote tourism while foreign countries advertise here extensively..
Role of the EU in tourism?
If EU represent EURO currency, the advantage is that in Europe many countries have adopted EU for transactions. Tourists and travellors need not exchange currency.
What does the term 'leakage effect' refer to?
The term leakage effect has to do with tourism and the loss of revenue to other countries. The way a country makes up for leakage is to have hotels in foreign countries.
What are the socioeconomic gains of teaching English as foreign language in non Eglish speakin countries?
The benefits are numerous but many countries are looking towards Mandarin chinese as a foreign language since China will become the world's biggest economy in the future. Knowing english in those countries allows companies to do business with foreign countries. Travelling citizens won't have such a hard time and limits culture shock. It will attract tourism since westerners know they can communicate (Hong Kong and Japan are good examples of this) The population in general will be better off having been more educated.
Why are exchange rates needed?
They are needed because every single countries have a different currency of their money which will be needed by international markets for their goods when they're selling it to another country and it also needed for tourism currency change
