Development of mass tourism.
The most significant economic change for many countries of the world has been the development of mass tourism since World War II. Tourism is a risky business: capital investment can be considerable, whereas the season in which to recoup expenditure may be short and can be disrupted by economic difficulties within a country and in neighbouring countries or by cool, rainy weather in summer. Furthermore, there is fierce competition to attract tourists, not only among different countries but also among the resorts within each country.
Tourism is a growing industry and one of the largest sources of foreign exchange. Enormous sums of money are injected into the economies of some nations by winter and summer tourism. Employment opportunities in the service sector increase substantially. The tourist trade is one of most important sources of employment and revenue and is served by numerous hotels and boardinghouses, youth hostels, restaurants, and retail businesses. Many cities are also important centres for international conferences and exhibitions.
The number of tourists increases steadily. Luxury establishments are developed for wealthy foreigners. Manyworkersfindemploymentintourism.
The most significant economic change for many countries of the world has been the development of mass tourism since World War II. Tourism is a risky business: capital investment can be considerable, whereas the season in which to recoup expenditure may be short and can be disrupted by economic difficulties within a country and in neighbouring countries or by cool, rainy weather in summer. Furthermore, there is fierce competition to attract tourists, not only among different countries but also among the resorts within each country.
Tourism is a growing industry and one of the largest sources of foreign exchange. Enormous sums of money are injected into the economies of some nations by winter and summer tourism. Employment opportunities in the service sector increase substantially. The tourist trade is one of most important sources of employment and revenue and is served by numerous hotels and boardinghouses, youth hostels, restaurants, and retail businesses. Many cities are also important centres for international conferences and exhibitions.
The number of tourists increases steadily. Luxury establishments are developed for wealthy foreigners. Manyworkersfindemploymentintourism.