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THE ROLE OF TOURISM INDUSTRY IN THE WORLD ECONOMY Rakhmonov Sh.Sh. (Republic of Uzbekistan) Email: [email protected]
Rakhmonov Shukhrat Shavkatovich - Student, DEPARTMENT OF INTERNATIONAL TOURISM AND TOURISM SERVICE, SERVICE AND TOURISM FACULTY, SAMARKAND INSTITUTE OF ECONOMICS AND SERVICE,
SAMARKAND, REPUBLIC OF UZBEKISTAN
Abstract: tourism today is an indicator of development civilization, a method of understanding the surrounding reality, way to improve cultural level and recovery health of people. At the end of XX century, tourism is becoming a mass phenomenon, and the tourist business is experiencing a real boom. Today tourism has become a major category of international trade in services. As a worldwide export category, tourism ranks third after chemicals and fuels and ahead of automotive products and food. In many developing countries, tourism is the top export category. This article highlights the role of tourism and its economic impact in the world economy. The economic contribution of tourism is felt in both direct and indirect ways, where direct economic impacts are created when commodities like the following are sold: accommodation and entertainment, food and beverages services, and retail opportunities. In addition to receipts earned in destinations, international tourism also generated US$ 216 billion in exports through international passenger transport services rendered to non-residents in 2016, bringing the total value of tourism exports up to US$ 1.4 trillion, or US$ 4 billion a day on average. Moreover, here are given schedules which show the development of this sphere and given some predictions about future development of tourism industry. Estimates and forecasts are given according to the statistics of United Nations World Tourism Organization and World Travel and Tourism Council. Keywords: world economy, GDP, visitor exports, investment, employment.
РОЛЬ ИНДУСТРИИ ТУРИЗМА В МИРОВОЙ ЭКОНОМИКЕ Рахмонов Ш.Ш. (Республика Узбекистан)
Рахмонов Шухрат Шавкатович - студент, кафедра международного туризма и туристского сервиса, факультет сервиса и туризма, Самаркандский институт экономики и сервиса, г. Самарканд, Республика Узбекистан
Аннотация: туризм на сегодняшний день является показателем развития цивилизации, методом познания окружающей действительности, способом повышения культурного уровня и восстановления здоровья людей. В конце XX в. туризм становится массовым явлением, а туристский бизнес переживает настоящий бум. Сегодня туризм стал одной из основных категорий международной
торговли услугами. В качестве мировой экспортной категории туризм занимает третье место после химикатов и топлива и опережает автомобильные продукты и продукты питания. Во многих развивающихся странах туризм является высшей экспортной категорией. В этой статье подчеркивается роль туризма и его экономическое влияние в мировой экономике. Экономический вклад туризма ощущается как прямым, так и косвенным образом, когда прямые экономические последствия создаются, когда продаются такие товары, как: размещение и развлечения, услуги, продукты питания и напитки, а также возможности розничной торговли. В дополнение к поступлениям, полученным в пунктах назначения, международный туризм также увеличил экспорт в 216 миллиардов долларов США через международные услуги пассажирского транспорта, предоставленные нерезидентам в 2016 году, в результате чего общая стоимость экспорта туризма увеличилась до 1,4 триллиона долларов США или 4 миллиардов долларов США в день в среднем. Более того, здесь представлены графики, которые показывают развитие этой сферы и дают некоторые прогнозы будущего развития индустрии туризма. Оценки и прогнозы даются в соответствии со статистическими данными Всемирной туристской организации и Совета по вопросам путешествий и туризма. Ключевые слова: мировая экономика, ВВП, экспорт услуг, инвестиции, занятость.
Today tourism has become one of the most significant sectors of the world economy and a catalyst to the development of the economy of both local and international markets. According to the definition, adopted by the United Nations in 1954 "Tourism is active recreation, affecting health promotion, physical development of human associated with movement beyond permanent residence" [1, p. 6].
Tourism has boasted virtually uninterrupted growth over time, despite occasional shocks, demonstrating the sector's strength and resilience. International tourist arrivals have increased from 25 million globally in 1950 to 278 million in 1980, 674 million in 2000, and 1,235 million in 2016. Likewise, international tourism receipts earned by destinations worldwide have surged from US$ 2 billion in 1950 to US$ 104 billion in 1980, US$ 495 billion in 2000, and US$ 1,220 billion in 2016 [2, p. 2].
Table 1. International tourist arrivals and international tourism receipts from 2011 to 2016 year
2011 y. 2012 y. 2013 y. 2014 y. 2015 y. 2016 y.
International tourist arrivals 983 million 1,35 million 1,87 million 1,133 million 1,186 million 1,235 million
International tourism receipts (US$) 1,30 billion 1,75 billion 1,159 billion 1,245 billion 1,260 billion 1,220 billion
Difference over the previous year International tourist arrival (%) 4.6 4.0 5.0 4.3 4.6 3.9
International tourism receipts (%) 3.9 4.0 5.0 3.7 4.4 2.6
Source: made by author according to UNWTO annual reports.
It is clearly seen from the graph that over the past years from 2011 to 2016 the number of international tourists is only increasing. International tourist arrivals (overnight visitors) in 2016 grew by 3.9% to reach a total of 1,235 million worldwide, an increase of 46 million over the previous year. International tourism receipts grew by 2.6% in real terms (taking into account exchange rate fluctuations and inflation) with total earnings in the destinations estimated at US$ 1,220 billion worldwide in 2016. These indicators show that tourism industry play a significant role in the world economy. In most countries tourism is a best contribution and main power to enrich the countries budget. For instance, the statistics
shows that in 2016 international overnight visitor spent 28.50 billion U.S. dollars in Dubai and New York profited 17.02 billion U.S. dollars by international overnight visitor [3].
Today tourism is at the forefront of wealth and employment creation in the global economy, despite the emergence of a number of challenging headwinds. In 2016, the direct contribution of travel and tourism was 3.1% of total GDP and total contribution was 10.2% [4, p. 1].
Statistics shows that in 2006 the total contribution of travel and tourism was 6.03 trillion U.S. dollars and direct contribution estimated 1.91 trillion U.S. dollars. In 2014 total contribution made up 7.58 trillion U.S. dollars and direct contribution constituted 2.36 trillion U.S. dollars. The most significant increase in total contribution of travel and tourism was in 2016 and it was estimated 7.61 trillion U.S. dollars when direct contribution was 2.31 trillion U.S. dollars [5]. Travel and tourism directly influence to the world employment, visitor exports and investment. According to the statistics, 1 in 10 jobs in the world is services in tourism industry [6, p. 3].
Statistics shows, in 2016 the direct contribution of travel and tourism to GDP was USD 2,306.0bn (3.1% of total GDP), the total contribution to GDP was USD 7,613.3bn (10.2% of GDP), industry directly supported 108,741,000 jobs (3.6% of total employment), the total contribution of industry to employment, including jobs indirectly supported by the industry, was 9.6% of total employment (292,220,000 jobs), visitor exports generated USD 1,401.5bn (6.6% of total exports), industry investment was USD806.5bn, or 4.4% of total investment.
Table 2. Economic impact of travel and tourism in the world economy
Years
2011 2012 2013 2014 2015 2016
Economic impact"^^
GDP Direct (%) 2.9 2.9 2.9 3.1 3 3.1
Total (%) 7.9 9.3 9.5 9.8 9.8 10.2
Employment Direct (%) 3.3 3.4 3.4 3.6 3.6 3.6
Total (%) 8.5 8.7 8.9 9.4 9.5 9.6
Visitor exports (%) 5.5 5.4 5.4 5.7 6.1 6.6
Investment (%) 4.6 4.7 4.4 4.3 4.3 4.4
Source: made by author according to WTTC annual reports.
Moreover, WTTC (World Travel and Tourism Council) and UNWTO (United Nations World Tourism Organization) forecast the development of this industry. WTTC forecasts, total contribution of travel and tourism to GDP will be 11.4% of total GDP, direct contribution will be 3.5%.
2016 2016 2017 2027
WORLD USDbn1 % of total Growth1 USDbri % of total Growth*
Direct contribution to GDP 2,306.0 3.1 3.3 3,537.1 3.5 4.0
Total contribution to GDP 7,613.3 10.2 3.6 11,512.9 11.4 3.9
Direct contribution to employment4 108,741 3.6 2.1 138,086 4.0 2.2
Total contribution to employment* 292,220 9.6 1.9 381,700 ll.l 2.5
Visitor exports 1,401.5 6.6 4.5 2,221.0 7.2 4.3
Domestic spending 3,574.6 4.8 3.7 5414.1 3.9 3.9
Leisure spending 3,822.5 2.3 3.9 5,917.7 2.7 4.1
Business spending 1,153.6 0.7 4.0 1,719.9 0.8 3.7
Capital investment 806.5 4.4 4.1 1,307.1 5.0 4.5
Fig. 1. Estimates and Forecasts by WTTC [7, p. 7]
According to UNWTO's long-term forecast report Tourism Towards 2030, international tourist arrivals worldwide are expected to reach 1.8 billion by 2030. Between 2010 and 2030, arrivals in emerging destinations (+4.4% a year) are expected to increase at twice the rate of those in advanced economies (+2.2% a year). The market share of emerging economies increased from 30% in 1980 to 45% in 2016, and is expected to reach 57% by 2030, equivalent to over 1 billion international tourist arrivals [8, p. 3].All above mentioned facts prove that tourism industry is a pivotal sector and play a vital role in world economy.
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4. WORLD TRAVEL&TOURISM COUNCIL, TRAVEL&TOURISM ECONOMIC IMPACT, 2017. WORLD. Page 1.
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