The Economic Impact on Global Tourism

Annals of Spiru Haret University, Issue 2/2017

14 Pages Posted: 17 Oct 2017

See all articles by Bogdan Sorfronov

Bogdan Sorfronov

Polytechnic University of Bucharest

Date Written: October 16, 2017


Tourism is an important economic activity in most countries around the world. As well as its direct economic impact, the industry has significant indirect and induced impacts.

The outlook for the tourism sector in 2017 remains robust and will continue to be at the forefront of wealth and employment creation in the global economy, despite the emergence of a number of challenging headwinds.

In tourism, GDP growth is expected to accelerate to 3.8%, up from 3.1% in 2016. As nations seem to be looking increasingly inward, putting in place barriers to trade and movement of people, the role of tourism becomes even more significant, as an engine of economic development and as a vehicle for sharing cultures, creating peace, and building mutual understanding.

Keywords: economic impact; tourism; global tourism; travel; tourism economics

JEL Classification: Z30, Z32

Suggested Citation

Sorfronov, Bogdan, The Economic Impact on Global Tourism (October 16, 2017). Annals of Spiru Haret University, Issue 2/2017, Available at SSRN:

Bogdan Sorfronov (Contact Author)

Polytechnic University of Bucharest ( email )

Splaiul Independentei nr. 313
Sector 6
Bucharest, Bucharest 060042

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