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The economic impact of the tourism industry

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The economic impact of the tourism industry

The tourism industry has an important connection with the economy of the world. This is the main reason that applying for a visa has been made easy around the world. In 2014 the tourism industry impacted the world's economy. The tourism industry contributed around 3.3 % of the total GDP of the world. The amount of the revenues by the tourism industry has crossed the figure of $ 1.7 trillion in 2014, this figure is quite an impressive figure for the world's trade. The travelling visas have been made simple just to promote tourism in their particular country. The tourism industry has a deep connection with business and trade across the globe. Countries are relaxing their visa policies to increase the number of tourists in their countries. The Canadian ETA is gettable only within 24 hours time if you are providing all the essential documentation. The same goes for the Turkey e visa, which is not even required for the Schengen countries and also for the citizens of the USA and Canada.


In this article, we are discussing the impact of the tourism industry on the world's economy:


Tourism and the business activity:

The contribution of the tourism industry is always growing for countries across the globe. Now a days applying for a visa has been made easy for tourists around the world. The tourism industry is contributing around 10 % of the global GDP. The figures include the domestic and international tourism industries. There are almost 1.4 billion tourists traveling across the globe, which is quite a huge figure. The contribution of the technology is also promoting the tourism industry across the globe. Applying for a visa has been made online and you can provide all the documents online, without any requirements of going to the embassy of a particular country. The travelling visas correspondence has been totally online, and all the communication can be done by the online media. This is saving the time of the tourists but also increasing the speed of the processing of the tourist’s visa across the globe.


The Tax collection and the tourism industry:

Applying for a visa also increases the chances of collecting tax revenues across the globe. When tourists travel to various regions of the world. Then these tourists have to pay different taxes and the duties imposed by the different countries. This is the main reason the counties across the globe provide the best possible facilities to the tourists. The tourism industry is responsible for 1 out of 11 jobs across the globe, which is quite an amazing figure for promoting employment activities across the world.


Conclusion:

Due to these factors, countries across the globe, make tourism one of the priorities for themselves. The countries are providing tourists packages for the tourists to promote tourism in other countries. The main reason behind this focus is attracting foreign direct investment in their countries with the help of tourism. This is helping to promote the economic activities in their countries. The tourism industry is providing employment opportunities for the people of a particular country.


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