{"id":14525,"date":"2022-03-10T13:25:17","date_gmt":"2022-03-10T00:25:17","guid":{"rendered":"http:\/\/newtw.tourwriter.com\/?p=14525"},"modified":"2023-10-05T01:41:35","modified_gmt":"2023-10-05T01:41:35","slug":"economic-sustainability","status":"publish","type":"post","link":"https:\/\/www.tourwriter.com\/economic-sustainability\/","title":{"rendered":"How tour operators can make a positive economic impact on a destination"},"content":{"rendered":"

How tour operators can make a positive economic impact on a destination<\/h1>\n

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Tourism is now one of the world\u2019s largest industries and one of the fastest-growing economic sectors. Globally,<\/span> travel and tourism’s direct contribution to GDP<\/span><\/a> was approximately 4.7 trillion U.S. dollars in 2020. For many countries, tourism is seen as the main instrument for regional development as it stimulates new economic activities.<\/span><\/p>\n

Economic sustainability, <\/span>one of the three pillars of sustainability, refers to practices that support long-term economic growth without negatively impacting the social, environmental, and cultural aspects of a community. <\/span>Although this pillar can have a positive economic impact on the balance of payments, employment, gross income and production, it may also have negative effects, particularly in the form of leakage.<\/span><\/p>\n

Tourism leakage<\/span><\/a> occurs when the revenue generated by tourism is lost to outside economies. The cumulative effects of actions like buying an imported souvenir and staying in a foreign-owned hotel can amount to significant losses for the local economy on which your tour operations depend. Unfortunately, leakage is the highest in developing nations, but it is present at any destination.\u00a0<\/span><\/p>\n

The following are some key statistics about economic sustainability:<\/span><\/p>\n