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Tourism and its impact on the global economy

Release date

10/11/2017 12:00:00 AM

Topic

Business

Studying a tourism qualification can be rewarding as well as exciting. You’ll be joining a fast-paced and exciting sector worth a cool $9.5 trillion (2016). Read on to learn more about fascinating statistics behind this trade.

Gaining a tourism qualification is an excellent way to land a job in this lucrative sector. Read on to learn how this sector benefits the global economy.

Today, the tourism sector employs 292 million people, which is roughly 1 in every 10 person on the planet. Reports show that the outlook for the sector in 2018 is predicted to be positive, with plenty of more job opportunities.

By studying tourism at the Toronto School of Management, your chances of finding employment in this flourishing industry are very high. It’s one of the fastest growing economic sectors in the world. It’s also the main source of income for many countries which means it’s a branch of their economy.

The industry contributes to almost 10% of global GDP. Depending on how much importance states give to tourism, it’s estimated between 2-10% of a nation’s GDP can be made up of tourism.

As the industry now focuses on methods of sustainable tourism, it will enjoy continued growth.

Tourism leads to the creation of attractions, restaurants, entertainment, and better services in a community. It has a positive impact on other industries too: agriculture, transport, and manufacture. With positive effects on the local community, standards of living in a local area can also rise. Consumer spending will also see an increase as more people are attracted to a particular location.

Tourism is one of the biggest sectors in the services industry. Its size means that whether you choose to remain in Canada after your studies to work, or you decide to re-locate, there are established tourism employment opportunities in destinations as far as Australia, Africa, the Middle East, and more.

Your career in tourism will see you become a protector and global ambassador of cultural heritage and we look forward to helping you develop a fulfilling career.

More by Anisa Choudhary (1)

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