Tourism

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Summary

Tourism is the travel for recreational, leisure, family or business purposes, usually of a limited duration. Tourism is commonly associated with trans-national travel, but may also refer to travel to another location within the same country. The World Tourism Organization defines tourists as people "traveling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes".

Details

Tourism has become a popular global leisure activity. Tourism can be domestic or international, and international tourism has both incoming and outgoing implications on a country's balance of payments. Today, tourism is a major source of income for many countries, and affects the economy of both the source and host countries, in some cases it is of vital importance.

Tourism suffered as a result of a strong economic slowdown of the late-2000s recession, between the second half of 2008 and the end of 2009, and the outbreak of the H1N1 influenza virus. It then slowly recovered, with international tourist arrivals surpassed the milestone 1 billion tourists globally for first time in history in 2012. International tourism receipts (the travel item of the balance of payments) grew to trillion ( billion) in 2011, corresponding to an increase in real terms of 3.8% from 2010. In 2012, China became the largest spender in international tourism globally with billion, surpassing Germany and United States. China and emerging markets significantly increase their spending over the past decade, with Russia and Brazil as noteworthy examples.

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