What makes tourism an industry

Tourism is a great contribution to the world economy. Large emerging economies, including developed ones, depend largely on the tourism industry.

Countries such as the US, France, and Spain fight over leadership in this sector with the aim of positioning themselves as the world's first tourist power, which to say the least, is a very profitable objective. The tourism industry not only generates revenues for a country and cultural wealth, but it is also one of the most important economic engines for growth and development. Globalization, as well as diplomatic relations among countries, has made traveling increasingly common.

Tourism is a great source of income and employment for countries that receive more tourists, which has had a significant impact on the main economies of the world. But questions remain: Will the aid package be enough as the country slides into a recession, and what does it mean for travelers? On average, international carriers, including Delta and United Airlines, had less than two months of cash on hand to cover expenses before the coronavirus hit, according to the International Air Transport Association IATA.

In contrast, Apple has enough cash to cover six years of expenses. With small business loans we can help keep their doors open. The lodging sector— which has suffered as much as transport , with companies such as Marriott losing as much as 75 percent in revenue—is also a big recipient of the bailout.

But cruise companies face an uphill battle to recover. Cruises have become beleaguered poster children of the pandemic as news stories chronicle the plight of ships carrying infected passengers. The effect on the cruise business has been swift.

Shares of the big fish—Royal Caribbean, Carnival, and Norwegian—have dropped by 60 to 70 percent. Major companies locate their primary headquarters overseas, with ships flagged and incorporated in other nations. This means they pay almost no federal taxes and avoid many U. This photographer returned from a remote island to a world paused by a pandemic.

The cruising industry faces more hurdles in the future. But there is a glimmer of hope. China, where the pandemic began, offers a glimpse into the future. Now that the pandemic is reportedly under control there and restrictions are being lifted, there are early signs of recovery. Hotel bookings in China have increased by 40 percent the first week in March, according to Bloomberg, while peak daily flights rose percent from the previous albeit disastrous month.

Transportation 5. Attractions 6. Travel Trade 7. Tourism Services. Accommodation is the most vital component of the tourism product and the tourist destination.

There are approximately 65 hotels in Nassau, with 8, rooms. In The Bahamas there are hotels with 14, rooms. Adventure Tourism and Recreation: These include golf and tennis, outdoor adventure and recreation; marine facilities and bonefishing lodges. Transportation: This is a major component of tourism and is divided in to three categories: air, ground and water.

Airlines are used by many tourists and are national, regional or international. Bahamasair is a national airline; Liat is regional and American Airlines is international.

Ground transportation includes taxis, car rentals and tour buses. Water transportation is primarily by cruise lines and ferries. The Bahamas is the leading cruise destination. Attractions are either natural Preacher caves, blue holes; cultural Junkanoo , heritage historical buildings-Pompey Museum, forts, old churches, 66 Steps leisure casinos or man-made Atlantis Theme park.

Travel Trade: An important sector using wholesalers, tour operators and travel agents who package the travel experiences. The packages consist of different elements of the travel such as air and ground transportation, accommodation, meals, entertainment as well as other activities.

Events and Conferences: This sector is a major reason for travel and is classified in the three groups, special events, meeting and convention and trade shows. Tourism Services: The Ministry of Tourism works with strategic partners to organize the tourism industry.

It deals with marketing services, research and information management, resource development. Services are provided by proprietors, government agencies, quasi-government agencies and non-governmental agencies NGOs. The main income in the Bahamian economy is the money spent by tourists during their visit to the Bahamas.

Each tourist that arrives in the Bahamas spends money that contributes to different sectors of the economy. When a tourist spends money on transportation, food, room and tourist activities such as water sports, shopping, island tours etc. A certain percentage of tourist spending also contributes to government taxes as well. For example, when a tourist pays for his or her hotel room it includes what is called hotel tax As well as when a tourist is returning back home and pays a departure tax at the airport.

These taxes are also deposited into the Bahamas Treasury. From this account government pays its bills and the salaries of its public sector employees. The basic tourist dollar flows in a cycle, for example, from a tourist to a cab driver who then takes the dollar to purchase lunch at a restaurant, which, in turn, contributes to the salaries of the restaurant employees.

The same tourist will also pay for a hotel room which, as taxes, is deposited into the Treasury. In this way tourist dollar flows in a cycle through out the economy. The Bahamas is largely an import service economy; its economy is almost entirely dependent on tourism and financial services to generate foreign exchange earnings.

Covering air, water, road and railways, transport sectors provides the means to travel to various destinations. Accommodation or Hospitality industry: Accommodation or Hospitality is another key sector of tourism. While travelling anywhere, tourists need to stay there and therefore need proper hotels or other type of accommodations. They also need all related services to make their stay and travel pleasant and convenient. This is not just limited to the hotels tourists stay in. Restaurants, take aways, etc.

Food tourism is one of the types of travel where people travel to places which have famous local food and flavors. People travel to attend business, professional and other type of events. There are so many different types of events happening all over the world in different cities everyday. This sector boosts the whole tourism industry and is also one its important segment. Business tourism sector: Business tourism is another sector which involves business travelers travelling for various business purposes.

This is little different from the MICE or events sector. Here business travel is not for event participation particularly. Businessmen, professionals travelling for all types of official work like client dealing, new market survey, etc. Tourism is one of the very important industries in the world. The value and importance of tourism industry is very high for every country because it contributes far more and much wider.

Tourism brings benefits and advantages and contributes in the overall growth and development of the economy of a country and also in progress of the society and social structure of a country. It also helps and motivates in preserving of natural resources.

This industry is driven by tourists. These tourists are its primary and only customer segment who show the need and desire to visit places for different reasons. It is also driven by the progress and development in its value chain industries in providing more services, facilities, convenience, etc.

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