From 1981 to 1997,
Tourism foreign exchange receipts, says the study, has reached nine billion dollars annually. That's 2.5 times larger than foreign exchange received annually from the export of industrial products and 1.8 times larger than the sum received from total exports annually.
The study shows that in the period 1960 to 1997, tourism was responsible for an increase of 21.6% in GNP while industry increased GNP by 15.4% during the same period. Furthermore, in the period 1980 to 1997, when services began to play a major role in the economy, services as a whole increased their GNP role by 29.9% while tourism increased its role by 75%.
The study's conclusion, says the author, is that government has not invested in tourism infrastructure in accordance with the importance of the sector to country's general economy….
From 1981 to 1997,
Tourism foreign exchange receipts, says the study, has reached nine billion dollars annually. That's 2.5 times larger than foreign exchange received annually from the export of industrial products and 1.8 times larger than the sum received from total exports annually.
The study shows that in the period 1960 to 1997, tourism was responsible for an increase of 21.6% in GNP while industry increased GNP by 15.4% during the same period. Furthermore, in the period 1980 to 1997, when services began to play a major role in the economy, services as a whole increased their GNP role by 29.9% while tourism increased its role by 75%.
The study's conclusion, says the author, is that government has not invested in tourism infrastructure in accordance with the importance of the sector to country's general economy.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
