Tourism and the economy
The chapter lists the components of economic policy and shows how tourism relates to each of them. It goes on to examine the concept of development planning and the constraints to economic growth. It then explores the part played by foreign investment, and examines the case for incentives. The process of economic development is discussed, and the chapter then goes on to cover techniques for measuring the economic impact of tourism. Tourism multipliers and input-output analysis are discussed, and ways of improving tourism’s economic performance are identified. The chapter concludes by examining ways of reducing economic leakages.