International Tourism Development Essay Example | Topics and Well Written Essays - 1000 words

International Tourism Development - Essay Example Organizations like the WTO (World Tourism Organization) and WTTC (World Travel and Tourism Council) are aimed at regularizing and streamlining international tourism in all aspects. International tourism is revered as one of the fastest growing economic sector of the present day world, one of the largest export earners and a very crucial source of employment. In not only ushers in newer opportunities for the local people, but also generates substantial revenues. Recognizing these strengths of international tourism most of the organizations work towards bringing in coherence amongst various governments and local bodies and encourage them to play a more active role in promoting international tourism. In the business oriented world, tourism has almost become synonymous with trade. Whenever a tourism based activity is initiated, it generates trade in some form or the other. To further capitalize on this financial aspect of tourism, various strategies and policies are being adopted by various international organizations. In this regard the WTO releases annual reports on Tourism Market Trends reports which analyze global tourism results and their impact on a country's economy. Acute attention is given to various tourism products like special events, cruises, sports, ecotourism etc. to comprehensively analyze annual tourism trend of a particular country and its effect on the local as well as global trade. A special theory called PEST analysis is often implemented to assess a country's market potential. PEST analysis means adjudging a place on various aspects such as Political factors, Economical factors, Socio-cultural factors and Technological factors. Stability of the government or polity in a country, its economical status, its social and cultural setup and its technological background , all have a vital role to play in determining a country's tourism potential. As today's largest and fastest growing industry international tourism holds immense potential for unprecedented economic boom, globally. It has not only enhanced global trade and generation of revenue but has also given rise to novel ways of economic growth, especially to the developing countries. International tourism organizations are now working towards bringing in symmetry to the whole concept and to achieve global economical growth and prosperity through it. Answer 2: International tourism is present days' fastest growing economic sector and hence its continuous development and regularization is indispensable. Apart from generating huge tax revenue, this industry is also a vital source of foreign exchange and employment. Hence it becomes imperative for any nation to pay acute attention towards development and maintenance of its tourism resources. Tourism stakeholders play a vital role in shaping and sustaining tourism of any place. Tourism stakeholders could be any government or private body engaged in some form of tourism activity. Global tourism stakeholders may also include airports, travel agents, hotels, tour operators etc. Generically, each and every organization, which contributes towards tourism in some form, becomes its stakeholder. Tourism development is a complex activity, which not only includes tourism destinations, countries generating tourism, motivations and influences, but also relationships between people and institutions