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Provide a 10 pages analysis while answering the following question: Effects of tourism on economic growth in China. Prepare this assignment according to the guidelines found in the APA Style Guide. An
Provide a 10 pages analysis while answering the following question: Effects of tourism on economic growth in China. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. A huge increase in the amount of expenditure from foreign tourists with an average of average of 19.7% in each year was recorded between 1978 and 2001. For this reason, the World Tourism Organization had expected that China would have been the primary tourist destination in the world by 2010 (Yan &. Wall 260). Currently, it is speculated that, by the year 2015, China will become the second largest travel and tourism economy in the world after the United States. The main factors influencing the tremendous growth in China’s economy include its flourishing and widely considered growth in the tourism industry. This is also because of the open policy established by the Chinese, and an increased number of flights between China and other countries in the world. Moreover, various great improvements such as the transport infrastructure in China, accommodation in hotels and the increased tourist attractions have significantly contributed to this growth. One of the major theories in macroeconomics is the economic growth theory. Through the use of quantitative analysis, it has been shown that the effect of tourism on the developing economy of China bearing in mind the undeveloped levels of their tourism industry, tourism plays a significant role in the development of the country’s economy. In the conclusion of their 1992 study, Yan and Wall (270) noted that both domestic and international tourism only had a slight impact on the national level. This is with regards to the diversity and size of the economy in China. Using the traditional Type I Input-output model, they did not include the impacts of domestic tourism.
