Role of Tourism in enhancing economy

Economics For Tourism

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Role of Tourism in enhancing economy.....................................................................................1
Economic concepts of tourism....................................................................................................4
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Tourism in any country plays a major role in improving and developing economy, that also
contributes in giving the employment and significant source of income (Cohen and Spector,
2019). It also generates the revenue through foreign exchange, where more investment in
development of infrastructure aid to enhance more tourism. The present assignment is based on
this concept of tourism and its role in developing economy. For this purpose, fundamental
principles of economic theory in terms of micro and macro are discussed. The main reason
behind conducting this investigation is to analyse how tourism gives support to a nation for
economic development. Concerning on the tourism sector of UK, Trailfinders is chosen, which is
the largest independent British tour operator and provide worldwide services. Through this
purpose, concepts regarding with aggregate supply and demand, behaviour of organisations
within different models of market system can be illustrated.
MAIN BODY
Role of Tourism in enhancing economy
Tourism is considered as the most important global industry, where arrivals of
international in a country leads to enhance more economy (Towse, 2019). As a means of earning
and generating foreign exchange, today nations are more focusing on promoting tourism. This
would help in increasing better employment opportunities, with attracting the development
capital and enhancement of society development and economic independence. From the poverty
reduction perspective within the developing country, international tourism also assumes the great
significance (Fan, Liu and Qiu, 2019). For attracting the tourism, this characteristic provides the
strong potential for implementing a number of strategies like offering holiday destination on
attractive discounts, for development of society. In this regard, tour operators which combines
various travel related services like accommodations, transportations, sightseeing of areas around
destination, etc. contributes main role in enhancement of tourism (Gallego, Rodríguez-Serrano
and Casanueva, 2019). To attract tourists, they offer holiday packages with a range of services on
different-different price rates. As people also seek to visit a city on reasonable price and always
awaited for best offers, this made tour operators more able to offer holiday packages at cheap
rates. In context with Trailfinders, this firm has established its business in 1970 and mainly
specialised in tailormade worldwide tour services (Arghutashvili and Gogochuri, 2019). It has
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